KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo - Doyle: Saving Mercury Marine jobs could cost $70M
Member Center:
Associated Press - November 6, 2009 8:15 PM ET
FOND DU LAC, Wis. (AP) - Gov. Jim Doyle says dissuading outboard-engine maker Mercury Marine Inc. from moving its Fond du Lac operations to Oklahoma could cost state taxpayers $70 million.
That's in addition to a $50 million loan funded by Fond du Lac County sales tax and $3 million from the City of Fond du Lac.
In return, the outboard-engine maker is expected to retain several thousand jobs in the Fox Valley.
Last summer, Wisconsin and Oklahoma were engaged in a bidding war for Mercury's factories. Last-minute union concessions and proposed government aid persuaded the company to remain in Fond du Lac.
Doyle says the $70 million in state assistance comes mostly in the form of refundable tax credits. He says the company won't get the full amount if it does not retain 2,700 jobs.
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
