Businesses that have invested in modernizing or expanding food processing plants or food warehouses in Wisconsin can apply to the Department of Commerce for tax credits through the new Food Processing Plant and Food Warehouse Investment Credit.
The application deadline for the first round of funding is June 18, and the deadline for the second round will be Feb. 15, 2011.
‘Food processing is one of Wisconsin's foremost industries, and we want to make sure that this industry has the tools to stay competitive in the global marketplace," said Commerce Secretary Aaron Olver. "The tax credit can help businesses make investment that will spur their future growth and development."
Businesses can earn up to 10 percent of the eligible expenses spent in the taxable year for modernizing and expanding food processing plants and food warehouses. The maximum amount a business can receive over the life of the program is $200,000.
Businesses can apply online at http://commerce.wi.gov/BD/BD-FPTC.html.
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