Oct 3, 2013

Grant helps GOEX project move forward

Excerpted from Janesville Gazette
By Jim Leute

Construction is on track for a Janesville company to open a $17 million manufacturing facility next summer that will keep a minimum of 130 employees on the local payroll.

GOEX is building the 175,000-square-foot facility on Highway 14 near Newville Road.

When it’s complete, the company plans to move its operation from 2532 Foster Ave, Janesville.

GOEX is an industry leader in extruding resins into custom rigid plastic sheet and roll stock. It has posted double-digit growth in each of the last 10 years but is landlocked at its current plant.

Mark Gottlieb, secretary of the Wisconsin Department of Transportation, visited the site Thursday to present city officials with a ceremonial check for $650,000, the state’s contribution toward the construction of a frontage road along Highway 14 and a rail spur that will help GOEX make and receive shipments via the Union Pacific Railroad.

The state money is in the form of a Transportation Economic Assistance grant, which requires a 50 percent local match that targets economic development.

Earlier this year, the city approved a package for GOEX that includes public contributions of more than $1.5 million. After the state grant is applied, the city’s cost for site improvements drops to $891,000.

As part of the agreement, GOEX will be required to retain 130 full-time jobs for the seven years remaining in the life of Tax Increment Financing District 21.

GOEX President Josh Gray said Thursday the company now has 140 employees.

Gottlieb said the TEA grant program is an example of the state working with local communities and their businesses to create and retain jobs.

“I want to thank the folks at GOEX for keeping these jobs from leaving Janesville, Rock County and Wisconsin,” Gottlieb said. “These are good-paying jobs that have a great effect on the local and state economy.”

Read the full article.

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