City Council Approves TIF Development Agreement with United Alloy, Inc.
On Monday January 8, the City Council approved a Tax Increment Financing (TIF) Development Agreement with United Alloy, Inc. (UAI) for another expansion of their manufacturing facility located on Kennedy Road within the City of Janesville. This TIF Development Agreement provides for nearly 18 acres to be sold to UAI for $1, with a total incentive package of land, building construction, and job creation of $962,789.
The new 100,000 square foot production facility will increase the company’s overall production capacities by housing a new painting system and will facilitate additional product assembly and distribution. With the additional production footprint, UAI will be adding 52 additional living-wage-equivalent positions with the possibility of more positions depending upon product contracts.
UAI is a preferred designer, manufacturer, and powder coater of certified metal tanks, skids, frames, trailers, chassis, and related products crafted to world-class quality standards in strategic partnership with global Fortune 500 original equipment manufacturer customers. As a recognized serial production supply partner, UAI implements cutting-edge technology and innovation-related applications to ensure its products and processes meet customer, as well as accredited third party provider, requirements.
Municipalities in Wisconsin are able to use TIF incentives to compete for new or retain existing companies, helping to sustain or grow the local economy. The City utilized TIF to ensure UAI completed this expansion in Janesville, as opposed to locating the project in Texas. In 2017, the City invested $6.7 million to leverage nearly $36 million in private investment, creating 88 additional jobs and nearly $500,000 in new taxable property value.
Please contact Economic Development Director Gale Price with any questions at (608) 755-3059.