Company to locate domestic manufacturing operations in Kewanee
KEWANEE � The Illinois Department and Commerce and Economic Opportunity (DCEO) and BOMAG Americas, Inc today announced that the company will consolidate its domestic manufacturing operations, currently located in Illinois and Missouri, to the company�s U.S. headquarters located in Kewanee. The investment is contingent upon the retention of 100 jobs, and will help further economic development in the region.
�Manufacturing is critical to the Illinois economy and the Midwest. This investment will help ensure Illinois can continue to keep good-paying manufacturing jobs in the state, while helping Bomag continue to grow their operations,� said DCEO Director Warren Ribley.
The state of Illinois is providing a $400,000 business investment package, which will leverage $2 million in private investment by the company.
The business investment package, administered by DCEO, includes Economic Development for a Growing Economy (EDGE) corporate income tax credits which are based on job creation and Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of its workforce.
�We at BOMAG Americas are excited that the State of Illinois is willing to provide this incentive in such difficult economic times. 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,� said BOMAG Chief Financial Officer Chris Cyr.
BOMAG is a world leader in compaction equipment manufacturing. Ranging from vibratory tampers and plate compactors to recycling equipment and landfill compactors, Bomag has the largest line of the finest compaction equipment in the world. Bomag employs more than 1500 people worldwide and has major manufacturing plants in Europe, North America and Asia and a growing number of subsidiary companies around the world.