Manchester, New Hampshire-based
Summit Packaging Systems has brought forward a proposal to expand its Racine manufacturing facility by 77,000 square feet, creating an estimated 145 jobs.
Summit Packaging Systems is a global aerosol valve and actuator manufacturer and distributor. Their Racine facility is located at 3441 S. Memorial Drive.
According to a press release from city and county officials, the city of Racine will begin the process of creating a new tax increment district (TID) around the company’s manufacturing facility at the Feb. 22 Joint Review Committee meeting. Through the creation of this new TID, the city will be able to provide financial incentive to Summit Packaging Systems. The increased property increment created by the company’s investment will result in new property tax revenue that the city proposes to share with Summit Packaging Systems on a pay-as-you-go basis for a period of 10 years.
According to the release, Summit Packaging Systems was considering different expansion options in New Hampshire and Wisconsin, but Wisconsin’s proximity to the company’s Midwest customer base played a “major role” in the selection of the Racine location.
“For all communities we operate in, one of our top priorities is to work with local organizations to facilitate investment and development of the local workforce,” said Scott Gilroy, vice president of operations at Summit Packaging Systems. “The City of Racine -- and Racine County as a whole -- provides companies like ours unparalleled resources to succeed.”
Summit Packaging Systems has been in Racine since 1987, growing to over 200 employees.
Racine County Economic Development Corp. worked alongside the city of Racine to secure the company’s investment. According to the release, the company was offered financial assistance to reduce the costs of construction.
“The Gilroy family and the entire Summit team have been great partners to work with,” said Racine Mayor
Cory Mason. “Summit has a track record of hiring city residents and this expansion provides new opportunities for our community to access family sustaining jobs. Creation of a new tax increment district to support this economic development and bring 145 good paying jobs to the city is a great use of our resources. Overall, this is a big win for the City of Racine.”
Following approval of the new TID, construction for the expansion project could begin this April.
