Incentive package could save Kimberly-Clark jobs
In February, Kimberly-Clark Corp. announced it would likely close two Fox Valley plants, leading to the elimination of more than 600 jobs. Now comes word that state incentives could keep those plants open. The Post-Crescent in Appleton reports that an agreement had been reached with the United Steelworkers Local 2-482 that would “provide Kimberly-Clark with concessions that would allow the facility to remain open,” on the condition the state senate approves the tax incentives.
The state senate could be called back into an “extraordinary session” to approve the deal.
In February, the Wisconsin Economic Development Corp. (WEDC), at the instruction of Gov. Scott Walker, offered Kimberly-Clark an incentive plan and the papermaker has signaled its interest now that the labor agreement has been signed. Among the incentives, K-C would receive refundable tax credits equal to 17% of the company’s payroll, but the total incentive package could amount to between $100 million and $115 million over a 15-year period, according to the WEDC, and save 610 jobs.