Waupaca Foundry in Ironwood gets Tax break.

Written by on September 10, 2019

IRONWOOD – The Ironwood City Commission at their meeting last night approved an Industrial Facilities Tax Exemption for Waupaca Foundry, Inc., which opened in July at the New Ironwood Industrial Park. The 3-0 approval with commissioners Joseph Cayer and Kim Corcoran not present will remove 50 percent off the millage rate equal to about 11 mills as a tax break for the company. The commissioners said the company has a positive impact on the city’s economy with a $4.3 million investment for an existing facility at the industrial park and a goal to create 61 jobs. Scott Erickson, city manager, said the jobs created so far at the facility has already helped to increase the city’s tax base. The city will still receive 50 percent of taxes for a significant infusion of revenue for the community and in 12 years the full tax will be back online. Waupaca Foundry, and its parent company, Hitachi Metals, opened the Ironwood facility to take castings produced at the other locations for final processing work, This includes cleaning and finishing. Also last night the commission approved the Ironwood Public Safety Department’s request to purchase 18 Glock 9 millimeter handguns for approximately $8,573. The actual price will be approximately $3,540 with a $5,070 buyback agreement on the 18 handguns currently in use by the department.

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