175 jobs to be added over next three years
Unico Inc. in Caledonia plans to add 175 new jobs over the next three years as part of Regal Beloit Corporation’s workforce and facility expansion, which includes a 52,000 square foot addition to the company’s location in the Caledonia Business Park.
According to a press release from Regal Beloit, parent company of Unico, the expansion is due to increased demand for Unico’s drive products and control systems for use in the oil and gas industry.
The release stated officials with Regal Beloit considered Mexico or Missouri as options for the expansion, but decided to expand in Caledonia because of the incentive packages extended by the State of Wisconsin, Racine County, Caledonia, and the Racine County Workforce Development Board. The availability of technical, skilled, and unskilled workers in Southeast Wisconsin also contributed to the company’s decision to expand at its current location.
Regal Beloit currently employs about 400 people in Racine County, about 200 each at its Grove Gear facility in Union Grove and at Unico in Caledonia.
In addition to incentive assistance being provided by Racine County and training assistance from the Racine County Workforce Development Board, the Wisconsin Economic Development Corporation will provide Unico up to $695,000 in tax credits to support the operation expansion and job creation. The tax credits will be distributed annually in direct relation to the number of jobs retained and new, full-time positions created and filled over a five-year period.
“By expanding its operations in Caledonia, Regal has shown that Racine County can compete in the global marketplace,” said Racine County Executive Jim Ladwig. “We are thrilled that Regal will add 175 more jobs in Racine County, and we are committed to doing what’s necessary to encourage more firms to bring good jobs here and keep them here.”
The Village of Caledonia will provide a total of $440,000 in tax increment financing assistance that was made possible through the Tax Increment District or TID that is located in the Village of Caledonia Business Park.
“The Village is pleased that Regal has chosen to expand in the Caledonia Business Park, creating valuable jobs and expanding the tax base of our community. The company’s investment reinforces the village’s decision to create the Tax Increment District to support business growth in the village,” remarked Ron Coutts, village president.
Unico Inc., 3725 Nicholson Road, Caledonia, is a wholly owned subsidiary of Regal Beloit Corporation.
-
-
-
-
-