VIDEO: Manufacturing & Agriculture Tax Credit Results in 4-Week Bonus for Employees

 

MADISON – A small manufacturer in northwestern Wisconsin gave its employees a four-week bonus this past year thanks to savings from the Manufacturing & Agriculture Tax Credit – MAC for short. Wisconsin Manufacturers & Commerce (WMC) released a video on Wednesday that highlights how businesses of all sizes rely on the credit.

The latest episode of WMC’s Two-Minute Drill series features Mark Tyler, President of OEM Fabricators in Woodville. Tyler explains that the MAC is a critical component of reinvesting in his company’s employees.

“If the credit was reduced, it is going to reduce our competitiveness,” said Tyler in the video. “We compete on a daily basis with India, with Europe and with Asia. The challenge is, anything you take out of our arsenal hurts our team members and hurts our ability to compete and bring jobs to Wisconsin.”

He also explains in the video that the credit allows them to invest in new technologies and training for employees that result in higher wages.

This is the third video released in as many weeks that aims to help policymakers understand the importance of the credit to Wisconsin’s economic growth. While Gov. Tony Evers’ budget calls to essentially eliminate the credit and raise taxes on Wisconsin manufacturers by $516 million, WMC members applaud legislators who have voted to keep the tax credit in place.

“Manufacturers both large and small have benefited from this tax credit, and the real winners are their employees,” said WMC Director of Small Business Advocacy Brittany Rockwell. “Policymakers need to understand that a reduction or elimination of the MAC could negatively impact the hundreds of thousands of manufacturing workers in our state.”

In addition to OEM Fabricators’ investment in its employees, WMC has release two other videos that show the importance of the Manufacturing and Agriculture Tax Credit. The first featured Automation Components, Inc. in Middleton, which purchased new equipment with savings from the credit and hired 84 employees in 2018. The second video highlighted Prent Corporation and Goex Corporation, which built a brand new manufacturing facility in Janesville, thanks to the credit, and now employees about 200 people there.

WMC will release additional videos this month that show the importance of manufacturing to Wisconsin’s economy and the role the MAC plays in growing the industry.

To watch the full Two-Minute Drill featuring OEM Fabricators, click here.

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For more information, please contact:
Nick Novak, 608.258.3400