Generac Power Systems plans to expand, create at least 400 jobs in next 5 years
WAUKESHA — Generac Power Systems Inc. and the Wisconsin Economic Development Corporation (WEDC) announced on Monday, August 14th that a WEDC award of up to $10 million in Enterprise Zone Tax Credits through 2021 will support the company’s growth plans at its Waukesha-based global corporate headquarters and manufacturing facilities throughout Wisconsin.
The project is expected to create at least 400 jobs over the next five years, a news release issued on Monday indicates.
Generac plans to invest more than $73 million in building renovations and equipment in a growth plan that will encompass its facilities in Waukesha, Oshkosh, Jefferson, Eagle, Whitewater and Berlin. The plan calls for the expansion of Generac’s corporate headquarters,
research and development, and production operations in Wisconsin.
Aaron Jagdfeld, president and CEO of Generac issued the following statement:
“As we’ve grown and added facilities throughout Wisconsin, it became clear that we needed to invest in a cutting-edge space at our corporate headquarters allowing us to dramatically advance our key product development and engineering activities. We’ve been on our current campus since 1965, but a lot has changed since then. This project will help us realize efficiencies at our headquarters facility that will drive continued innovation.”
The news release also says in addition to the 400 jobs expected to be created by Generac, an economic modeling study projects that the project will indirectly generate 356 additional jobs in the region. Over a five-year period, the direct and indirect jobs could generate $9.5 million in additional state income tax revenue.