Illinois Gov. Rod R. Blagojevich recently announced nearly $700,000 in Opportunity Returns support for Wirco, a manufacturer of high nickel fabrications, to help the company purchase the assets of Alloy Engineering & Casting Co., a manufacturer of high nickel cast components, which recently closed its doors in Champaign. The Governor's actions are helping keep nearly 90 jobs in Champaign.
Wirco is a family-owned business based in Avilla, Indiana. It has been selling fabrications to the heat treating industry for nearly 30 years. Alloy Engineering and Casting, a Wirco Company, compliments its current products by offering its customers a complete line of high nickel components.
"Opportunity Returns is about making the kinds of investments in communities that are most critical to creating and retaining quality jobs and helping working families get ahead,” said Blagojevich. “By partnering with Wirco, we're not only ensuring that good jobs are staying in Champaign, but helping position an innovative company for future growth.”
The Illinois Department of Commerce and Economic Opportunity (DCEO) is providing the investment package. DCEO will make available Economic Development for a Growing Economy (EDGE) corporate income tax credits over ten years based on job creation and retention; Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of Wirco's workforce; and additional financial benefits, such as sales tax exemptions and tax credits for job creation resulting from the company's location within an Enterprise Zone.
"Wirco would like to thank DCEO for its help in putting this deal together,” said Dennis Wright, president of Wirco. “We are excited about working with the community in Champaign. Gov. Blagojevich's willingness to partner with us was instrumental in bringing 89 jobs to the local community.”
