Walker administration outlines proposal to Kimberly-Clark
MADISON, Wis. (AP) — Gov. Scott Walker's administration has sent consumer products giant Kimberly-Clark the outline of a tax break deal it hopes will convince the company to not cut more than 600 jobs in northeast Wisconsin.
Wisconsin Economic Development Corporation head Mark Hogan sent the letter Thursday. He says the offer, which needs legislative approval, would include a 17 percent refundable tax credit on wages for 15 years, 15 percent refundable tax credits for capital expenses over five years and a five-year sales tax exemption on those expenses.
The refundable tax credit on jobs alone could cost the state between $100 million and $115 million over the 15 years.
The Dallas-based company said last month it was closing two factories in the Neenah area, resulting in the loss of jobs. A company spokesman declined to comment on the offer, saying it would be presented to local union leaders.