Pratt Industries of Georgia will build a $52 million, 350,000-square-foot manufacturing plant in Beloit that will employ 140 workers. The plant will produce around 600 tons of boxes from recycled materials per day.
The Wisconsin Economic Development Corp. will provide the company with up to $2.4 million in jobs tax credits and a $1.75 million low-interest equipment loan. In addition, the City of Beloit is providing $3.8 million in incentives, and the Greater Beloit Economic Development Corp. has offered a $200,000 grant. Construction will begin in spring in Beloit’s Gateway Business Park.
Earlier it was announced that Belvidere, Ill.-based Chicago Fittings would break ground in spring on a 30,000-square-foot facility in the same Beloit business park. The company engineers low- to high-pressure industrial hydraulic applications primarily for heavy equipment and diesel-engine manufacturing. It will employ 15 workers initially, with growth expected through 2020.
