Thermal Spray Technologies, Sun Prairie, Wis., has purchased a 92,000-square-foot building near its existing facility in the Sun Prairie Business Park, and will spend $11.5 million for complete renovation. Construction has begun with completion projected for early 2015. The expansion, which will almost triple the size of the company’s workforce, will enable installation of additional state-of-the-art industrial coating and machining technology.
The Wisconsin Economic Development Corporation (WEDC) is securing the jobs by providing TST with up to $750,000 in Economic Development Tax Credits over the next three years. The actual amount of credits received is contingent upon the number of jobs created and the amount of capital investment the company makes.
“WEDC congratulates TST on its continued success and is pleased to be able to assist the company with this major expansion, which will bring more family-supporting jobs to the region,” said Reed Hall, secretary and CEO of WEDC, the state’s lead economic development organization. “In the last two years, our Economic Development Tax Credit Program has helped more than 120 companies create or retain 27,000 jobs – and it is great to see another company utilize this important tool for economic growth.”
