Toledo Molding & Die Inc., a global supplier of interior and air/fluid management systems to the automotive industry, is establishing operations in Beloit, Wisconsin. The company is expected to create 118 new jobs.
The company’s first Wisconsin plant will be located at the Wisconsin Stateline Industrial Park, where it will manufacture molded automotive parts for Jeep Cherokees that will be produced at the Fiat Chrysler Automotive plant in Belvidere, Illinois, in early 2017. TMD, which is investing more than $14 million in the project, will occupy a 105,000-square-foot industrial building at the industrial park.
“TMD is excited to partner with the great state of Wisconsin and the outstanding people of Beloit and Rock County as we expand our operations in support of Fiat Chrysler’s Jeep Cherokee program,” said TMD President Steve Ciucci. “TMD selected Beloit because of its proximity to our customer, the availability and quality of the workforce, the high quality of life the region offers our employees, and the pro-business environment in the state. We look forward to a successful startup, and a long and mutually beneficial relationship with the state of Wisconsin and the Beloit/Rock County community.”
To help secure the project, the Wisconsin Economic Development Corporation (WEDC) is providing the company with up to $750,000 in business development tax credits over the next three years. The actual amount of credits the company will receive is contingent upon the number of jobs created over that time.
“TMD had several location options in northern Illinois as well as Wisconsin, and I’m pleased that the company will soon be a part of the Rock County business community,” said Governor Scott Walker. “More and more companies are realizing that the state’s pro-business climate, skilled workforce and world-class education system make Wisconsin an ideal location to expand or relocate.”
“Plastics manufacturing is a key industry driver for both Wisconsin, as well as the Janesville-Beloit area, and we look forward to adding TMD’s project to the growing list of firms that are investing in our market,” said Rock County Economic Development Manager James Otterstein.
Source : areadevelopment.com