Racine’s Summit Packaging receives Top 5 tax credits awards

1. Milwaukee Tool ($22.5 million)
2. Rural Sourcing Inc. ($800,000)
3. Formlabs Inc. ($675,000)
4. Summit Packaging Systems LLC ($500,000)
5. Balcan USA ($400,000)

Jobs retained or created by Business Development Tax Credits awards since 2016

• Total tax credits awarded: $43,995,800
• Job retention planned: 25,401
• Job retention actual: 23,052
• Job creation planned: 8,264
• Job Creation actual: 6,569
• Credits distributed per actual job created and retained *: $882.33
• Credits per planned job created and retained: $1,306.87

• Total tax credits awarded: $91,571,000
• Job retention planned: 25,173
• Job retention actual: 19,916
• Job creation planned: 10,066
• Job creation actual: 7,516
• Credits distributed per actual job created and retained *: $2,056.19
• Credits per planned job created and retained: $2,598.57

* Represents the verified number of jobs compared with the amount of tax credits actually released to company to use.

Source: WEDC data compiled by Milwaukee Business Journal