15 Sep $500,000 in technology tax credits go to Placon and Promega
FITCHBURG, Wis. — Two of Fitchburg’s larger technology companies will receive $250,000 each in tax credits to help them create and retain jobs, Governor Jim Doyle announced on Tuesday.
Placon Corporation, a plastic packaging designer and manufacturer, will use the tax relief to create 19 new jobs, and biotech mainstay Promega Corporation will create 26, officials said.
Both companies are in the Capital Ideas Technology Zone, which includes Dane, Jefferson and Rock counties. The state Department of Commerce made $5 million in tax credits available to high-tech businesses in the zone beginning in 2002.
The zone is part of the larger Wisconsin Technology Zone program, which includes eight zones, each with $5 million in credits available. The program is designed to encourage businesses to create jobs within the state in technology or advanced manufacturing.
“We still have a lot of work to do, but it’s clear that our hard work is starting to pay off,” Doyle said. “In the past 12 months, we’ve created more jobs than any of our Midwestern neighbors.”