MADISON – Small manufacturers that make up the supply chain for Waupaca Foundry have been the biggest beneficiaries of the Manufacturing & Agriculture Tax Credit (MAC), according to Waupaca’s top executive.
In the latest Two-Minute Drill video released by Wisconsin Manufacturers & Commerce (WMC), Waupaca Foundry President, COO & CEO Mike Nokolai explains that the MAC has helped to keep Waupaca’s supply chain close because local companies are able to reinvest in their business.
“Once we make a casting; the painting, the prior machining, all of that is done with small companies that are located near our plants,” says Nikolai in the video. “It’s really that synergy that you have on your supply chain that makes all this come together, and this tax credit is very important for small manufacturers because it allows them to reinvest in their operations to support a bigger entity like Waupaca.”
While Waupaca Foundry may not see a major benefit from the MAC because of its footprint outside of Wisconsin, every local manufacturer that is in the company’s supply chain can stay competitive and grow the economic impact in Wisconsin.
This is the fourth video released in as many weeks by WMC that showcases the importance of the Manufacturing & Agriculture Tax Credit. It leads to increased investment, the creation of new jobs and higher wages – all right here in the state of Wisconsin.
Even though Gov. Tony Evers proposed to all-but-eliminate the tax credit with his first budget plan, the Republican-led legislature has removed that language from the biennial spending bill. However, with the budget still being debated, WMC continues to fiercely advocate on behalf of its members to keep the credit in place.
To watch the full Two-Minute Drill featuring Waupaca Foundry, click here.
And click the links below to watch other videos in the series about the benefits of the MAC:
Two-Minute Drill: Automation Components, Inc. Invests in New Equipment
Two-Minute Drill: Prent Corporation and Goex Corporation Build a New Facility
Two-Minute Drill: OEM Fabricators Gives Employees a Four-Week Bonus