Written on: February 18, 2022 by SprayTM
Summit Packaging Systems, LLC—global manufacturer of aerosol actuators and valves—proposes to add a 77,000 square foot expansion to its current Racine, WI facility, which would create an estimated 145 jobs.
The company has been a local employer since 1987 and moved to its current location at 3441 S. Memorial Drive in 2010. Since their relocation, they have grown from 50 to over 200 employees. The company is headquartered in Manchester, NH, and has additional facilities in the Netherlands, Argentina and Poland.
“For all communities we operate in, one of our top priorities is to work with local organizations to facilitate investment and development of the local workforce,” said Scott Gilroy, VP of Operations at Summit Packaging Systems. “The City of Racine – and Racine County as a whole – provides companies like ours unparalleled resources to succeed.”
“The Gilroy family and the entire Summit team have been great partners to work with,” said City of Racine Mayor Cory Mason. “Summit has a track record of hiring City residents and this expansion provides new opportunities for our community to access family sustaining jobs. Creation of a new Tax Increment District (TID) to support this economic development and bring 145 good-paying jobs to the City is a great use of our resources. Overall, this is a big win for the City of Racine.”
Summit Packaging Systems evaluated expansion options in New Hampshire and Wisconsin. According to Michael Conway, the Chief Financial Officer of the company, proximity to the company’s Midwest customer base played a major role in choosing the proposed Racine County location.
Racine County Economic Development Corporation (RCEDC) worked with the City of Racine to secure Summit Packaging Systems’ investment by connecting the company with local resources and offering financial assistance to reduce the increasing costs of construction.
“RCEDC is proud to assist with the expansion of a proven company, like Summit Packaging,” said Laura Million, Deputy Director at RCEDC. “The team at Summit has embedded their organization in the Racine County community, and this project is a reflection of their commitment.”
The City of Racine will initiate the creation of the new TID around Summit Packaging Systems’ Racine location at the Feb. 22 Joint Review Committee meeting. The new TID will enable the City to provide a financial incentive to Summit Packaging Systems. The increased property increment created by the company’s investment will result in new property tax revenue that the City proposes to share with Summit Packaging Systems on a pay-as-you-go basis for a period of 10 years.
Following approval, construction is planned to begin in April.
SOURCE: wisbusiness.com
