Press Releases

Milwaukee Manufacturing Gets Nearly $3.5 Million in Tax Credits to Create Jobs

(Washington, DC)— Washington, DC – U.S. Congresswoman Gwen Moore (D-Milwaukee) today lauded President Obama’s announcement that nearly $3.5 million in tax credits included in the American Recovery and Reinvestment Act (ARRA) will help create clean-energy, high-tech manufacturing jobs in Milwaukee.

These investments are part of a total $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits that will create tens of thousands of jobs across the country.

Congresswoman Moore said, “This is great news that will help get people back to work in Milwaukee.  Today’s announcement could not come at a better time after the news that 85,000 Americans lost their jobs last month.”

Specifically, the tax credits will be used for the following:

$1,665,229                 
Ingeteam Inc.:  To build wind turbine generators and power converter and control systems for both wind and solar industries.

$1,774,800                 
Kaydon:  To re-equip and expand a Milwaukee manufacturing facility to produce “critical pitch and yaw” bearings used in the production and assembly of wind energy turbines.

These tax credits are worth up to 30 percent of each project and will be paired with private funds making a total investment of nearly $7.7 billion to help ensure that the United States leads the way in high-tech manufacturing and clean-energy technologies.

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For an interview with Congresswoman Gwen Moore, please contact David Frey at 202-225-4572.