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Manitowoc’s Committee of the Whole met Tuesday night to discuss a proposed Tax Incremental Financing Agreement with a prospective buyer of the Manitowoc Cranes Building. Mayor Justin Nickels said; “It is a Wisconsin Company, a very well-respected longtime Wisconsin Company, that is expanding very rapidly.” Nickels added; “This new company is expected to create a significant amount of high paying jobs of the City of Manitowoc and they plan to do that in 2019 to start the process.”
Nickels says the City is confident that Manitowoc Cranes Building won’t stay vacant for long. “it’s been a long, long process we’ve been working on this for months with this company and we’re getting much closer. With the development agreement in front of the Council, it’s public record and we wanted to get the news out, so it doesn’t look like we are trying to hide anything.”
The Mayor adds that Manitowoc offers many positive economic attributes to prospective businesses. “The economy is very good and that helps, but we are also very diverse in what we have in our business community and I think long term; when times get tough again, I think we are going to be much better off than we were 10-years ago.”
The Common Council will officially vote on the development agreement at their regular monthly Meeting April 15th. Upon ratification, there is a due diligence period over the 30 to 45 days before a formal announcement from the company will be made.
