Advanced Composite Products and Technology establishes operations in Wisconsin
New expansion in Marathon County will create 13 jobs, $5.2 million capital investment
MADISON, WI. May 9, 2019 – Advanced Composite Products and Technology Inc (ACPT), a manufacturer of composites, is establishing its first Wisconsin facility in Marathon County–a $5.2 million project expected to create 13 jobs over the next three years.
“Advanced Composite Products and Technology is an industry leader in composite manufacturing, and I congratulate them on their decision to establish operations in Wisconsin,” said Mark R. Hogan, secretary and CEO of the Wisconsin Economic Development Corporation (WEDC), the state’s lead economic development organization. “Companies have a choice when deciding to expand, and ACPT’s decision to open a facility in Marathon County is a testament to Wisconsin’s strong business climate and dedicated workforce.”
Founded in 1977, ACPT is a custom designer and manufacturer of structural components for use in research, commercial, government and private institutions. ACPT has built a reputation in advanced composite engineering in the production of successful applications specialized for aviation, space, defense, marine, performance racing, industrial machinery, and oilfield environments.
The project includes the acquisition and equipping of an existing production facility in Schoefield Industrial Park. At the facility ACPT will manufacture carbon fiber drive shafts, a component of Oshkosh Defense tactical wheeled vehicles.
WEDC is supporting the project by authorizing up to $150,000 in state income tax credits over the next three years. The actual amount of tax credits ACPT will receive is contingent upon the number of jobs created and the amount of capital investment during that period.
About the Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities and people to thrive in a globally competitive environment. Working with more than 600 regional and local partners, WEDC develops and delivers solutions representative of a highly responsive and coordinated economic development network. Visit wedc.org or follow WEDC on Twitter @WEDCNews to learn more.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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