State invests in Fraser ShipyardsTwo northern lawmakers stressed Tuesday that the tax credit and investment policies of the state are helping Wisconsin stimulate job creation and revitalize the economy.
Two northern lawmakers stressed Tuesday that the tax credit and investment policies of the state are helping Wisconsin stimulate job creation and revitalize the economy. State Sen. Bob Jauch, D-Poplar, and Rep. Nick Milroy, D-Superior, attended a press conference Tuesday with Department of Commerce Secretary Aaron Olver at Fraser Shipyards in Superior. The secretary announced that Lake Assault Boats would receive $111,000 in economic development tax credits. The credits will support a $1.2 million project that will create up to 14 jobs. Olver also announced a contract award for Fraser Shipyards to do repair work on the Hack Noyes, a state Department of Natural Resources research vessel. The two economic benefits come on the heels of more than $5 million in state and federal grants to upgrade the Fraser Shipyards facility.
“These announcements offer rays of hope and are positive signs that we are recovering from this global economic recession,” Jauch said. “The legislature and administration have been committed to tax policies that stimulate job creation. Through their private investment, Fraser officials have shown faith in their future and the State is matching their investment through these tax credits.”
“I am personally proud of the continuing state commitment to Fraser Shipyards,” Milroy said. “This shipyard is a pivotal part of the Twin Ports economy and the $5 million in grants and these tax credits are ways in which we can strengthen the long term viability of this important business.”
Both legislators emphasized that the DNR decision to award a contract to Fraser Shipyards to do the repair work on the Hack Noyes demonstrates the state’s faith in the quality of work by shipyard employees.
“The Fraser Shipyards decision to purchase Lake Assault Boats and invest in expanding their facility at this time highlights their long term commitment and the positive economic activity throughout northern Wisconsin,” Jauch said. “The Fraser Shipyards owner’s investment is joined by other Northern Wisconsin employers who are similarly making investments today. They believe in the positive future of their businesses and the region.”
Olver’s visit is part of Gov. Jim Doyle’s final tour of northern Wisconsin as governor. The eight-day tour began Monday. The governor is expected in Superior Thursday to make a stewardship announcement to protect the Nemadji River and discuss efforts to protect and restore the Great Lakes.