BOMAG Americas Inc., a global manufacturer of compaction equipment, plans to consolidate its domestic manufacturing operations, currently located in Illinois and Missouri, to the companys U.S. headquarters in Kewanee, Ill.
The state of Illinois is providing a $400,000 business investment package, which will leverage $2 million in private investment by the company, according to the Illinois Department of Commerce and Opportunity (DCEO).
The business investment package, administered by DCEO, includes Economic Development for a Growing Economy corporate income tax credits, which are based on job creation, and Employer Training Investment Program job training funds that will help enhance the skills of its work force.
We at BOMAG Americas are excited that the state of Illinois is willing to provide this incentive in such difficult economic times, BOMAG Chief Financial Officer Chris Cyr said. It remains our goal to be a competitive manufacturer on a global basis. This incentive combined with other recent initiatives will help maintain jobs in our backyard.