Wisconsin will provide $7 million in state tax credits to Amazon.com following the online retailer's commitment to construct a 1-million-square-foot distribution facility in Kenosha, Bloomberg BNA Correspondent Michael Bologna writes in this week's issue of the Weekly State Tax Report. The information was provided by Mark Maley, a spokesman for the Wisconsin Economic Development Corp.
Maley said that his agency had reached an agreement with Amazon extending up to $7 million in enterprise zone tax credits over 10 years to support the company's development goals. The agreement is premised on Amazon's commitment to create 1,100 permanent, full-time jobs at the distribution facility, Bologna writes.
Maley said the tax package is capped at $7 million, but the actual credits going to Amazon would be based on the volume of jobs created and maintained and the company's overall investment in the state, Bologna's story provides. He said Amazon is expected to spend $141 million to build and equip the facility.
The total investment, however, is expected to surpass $200 million when certain development costs are added, Bologna writes.
Bologna's complete look at this development can be found here.
In other developments…
Sandy's First Birthday-Is It a Happy One? , by James W. Fossett of the Nelson A. Rockefeller Institute of Government
Ohio House passes bill proposing substantial reforms to municipal taxation , a new alert by PwC
Washington State $9 Billion Tax Incentive Update: Unions Reject Contract , by the Tax Foundation
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