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Manufacturers on the move

​There has been a recent surge of out-of-state companies moving into Wisconsin in the last 18 months, with a lower tax burden compared to neighboring states as a commonly cited contributor. According to illinoispolicy.org, Wisconsin is seeing it’s lowest property tax numbers in 70 years, while Illinois currently has the costliest tax burden in the nation. These factors help position Southeastern Wisconsin as a cheaper outlet for companies to move to while maintaining easy access to the Chicago area.  Of the movers, perhaps the most notable has been the Apple iPhone supplier Foxconn, who is reported to be bringing approximately 13,000 jobs to the state in addition to building a two million square foot facility in the Racine area. If it goes through, the new facility could mean a $10 billion investment in Wisconsin, yet the level of economic incentives is still being worked out. Other companies like Haribo and Vonco Products who have also chosen Wisconsin are quoted as saying how the better taxes were major contributors to the move. ​

Source: JLL Research​




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