Kimberly-Clark agrees to stay in Wisconsin with $28 million in incentives
NEENAH, Wis. (CBS 58) – Kimberly-Clark has agreed to terms with the Wisconsin Economic Development Corporation on a five-year agreement that will provide the company with up to $28 million in tax incentives and allow it to continue operations at its Cold Spring facility in Fox Crossing.
Under the terms of the agreement, Kimberly-Clark will keep 388 technical manufacturing jobs with an annual payroll of over $30 million at the facility through 2023. The company will also continue to support hundreds of businesses across the state that supply approximately $56 million in goods and services to the facility annually. In addition, Kimberly-Clark will invest up to $200 million in the Neenah Cold Spring Facility over the next five years to fuel continued innovation and growth.
“We have been working diligently over the last few months to ensure that Kimberly-Clark, a company with a long legacy in a key Wisconsin industry, will continue to have a strong presence in the Fox Valley. We are also pleased that Kimberly-Clark is making the commitment to continue to invest and grow in our state for years to come,” said Governor Scott Walker, who joined company officials Thursday in announcing the plans. “Keeping longstanding businesses in our state is just as important as attracting new ones. This agreement is a win for Wisconsin and the company, but more importantly for the employees at Kimberly-Clark and the many businesses and communities who rely on the company for their partnership and support.”
Governor-elect Tony Evers released the following statement on the deal:
"The Republicans' lame-duck session overriding the will of the people would affect the governor's ability to lead on economic development through proposals like the one announced for Kimberly-Clark today. Unfortunately, Republicans played politics with this issue for months, leaving Kimberly-Clark workers and their families in the dark and uncertain about their futures.
I've said all along that we need a long-term, industry-wide solution to the challenges facing the paper industry - the governor of our state shouldn't be hamstrung when it comes to economic development, and that's why I continue to call on Governor Walker to veto the lame-duck legislation."