Summit plans to expand Wisconsin facility
The company, a global manufacturer of aerosol actuators and valves, has been a local employer since 1987 and moved to its current location in 2010. Since its relocation, Summit has grown from 50 employees to more than 200. The company is headquartered in Manchester, New Hampshire, and has additional facilities in the Netherlands, Argentina, and Poland.
“For all communities we operate in, one of our top priorities is to work with local organisations to facilitate investment and development of the local workforce,” said Scott Gilroy, vice-president of operations at Summit.
“The City of Racine – and Racine County as a whole – provides companies like ours unparalleled resources to succeed.”
City of Racine Mayor Cory Mason commented: “The Gilroy family and the entire Summit team have been great partners to work with. Summit has a track record of hiring City residents and this expansion provides new opportunities for our community to access family-sustaining jobs.
“The creation of a new tax increment district (TID) to support this economic development and bring 145 good-paying to the City is a great use of our resources. Overall, this is a big win for the City of Racine.”
Summit evaluated expansion options in New Hampshire and Wisconsin. According to the firm’s chief financial officer, Michael Conway, proximity to the company’s Midwest customer base played a major role in choosing the proposed Racine County location.
Racine County Economic Development Corporation worked with the City of Racine to secure Summit’s investment by connecting the company with local resources and offering financial assistance to reduce the increasing costs of construction.
The City of Racine will initiate the creation of a new TID around Summit’s location at the 22 February joint review committee meeting. The new TID will enable the City to provide a financial incentive to Summit.
The increased property increment created by Summit’s investment will result in new property tax revenue that the City proposes to share with the company on a pay-as-you-go basis for 10 years. Following approval, construction is planned to begin in April.