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Pharma company locates in Midwest

DNA

DNAArrowhead Pharmaceuticals, a California-based pharmaceutical company that makes genetic treatments for hard-to-treat diseases, has announced plans to build a $250 million manufacturing campus in the Verona Technology Park, just outside of Madison, Wisconsin.

The expansion will bring about 250 jobs to the region. Arrowhead Pharmaceuticals has a research and development location in Madison, Wisconsin, as well as locations in San Diego and Pasadena, California. Arrowhead will join pharmaceutical giant MiliporeSigma in the technology park.

“The pharmaceutical, medical equipment industry in Wisconsin continues to grow,” said Coleman Peiffer, Alliant Energy’s senior business attraction manager. “The region’s talent and education system are ideal to support bio-health, high-tech companies.”

According to the Wisconsin Economic Development Corporation, Wisconsin exported $2 billion in medical and scientific instruments in 2020. Nearly 1,700 bio-health patents were awarded to Wisconsin entities from 2015-2019.

Learn more about how we work with the diverse and fast-growing bioscience sector.

Iowa manufacturer to make electric battery tray side panels

charging electric car

charging electric carWilliamsburg Manufacturing, a division of leading global automotive supplier Magna International, will create 521 jobs in Williamsburg Iowa by 2026 as part of a $46 million expansion project. At the forefront of a new technological revolution, the Williamsburg operation will install material handling equipment and welding robots to allow the plant to manufacture electric battery tray side panels.

Williamsburg Manufacturing will also continue to make aluminum and high-strength steel bumpers, aluminum radiator supports, under-hood and underbody reinforcements, frame and roof rails, and engine cradles.

You can find parent company Magna International’s products in most vehicles today. They have 347 manufacturing operations on five continents and in 28 countries. The company has over 154,000 employees worldwide.

Learn more about how we work with original equipment manufacturers.

Alliant Energy 2021 industrial growth in review

Industrial growth is paramount to the communities we serve. Economic development is vital to our success.  Load growth helps us manage costs for all our customers.   

As of December 1, we successfully assisted in major expansions for existing customers and recruited new companies this year throughout our Iowa and Wisconsin markets.   

  • 58 industrial projects across our service area. 
    • 20 new manufacturing operations. 
    • 38 expansions of existing industry. 
  • Over $1.53 billion in new capital investment.   
  • Nearly 4,100 new jobs in the communities we serve.   

Below are two key industries that have realized growth in the region:  

  • Ten original equipment manufacturers (primarily metal equipment producers) expanded in the region. Notable expansions included construction and agriculture equipment manufacturers Vermeer Corporation, ALMACO and Weiler Inc.  
  • Nine food processing and ingredients companies expanded here. Familiar brands include General Mills, Tyson Fresh Meats, ADM, Saputo Cheese and Kerry Ingredients. 

Wisconsin incentives: Business Development Tax Credit helps enhance cash flow

Wisconsin icon

Wisconsin iconWisconsin’s Business Development Tax Credit Program provides businesses located in or relocating to the state with refundable tax credits. This supports local job creation, capital investment, training and corporate headquarters location or retention. These credits can reduce income/franchise tax liability or provide a refund. Businesses then have more cash flow to expand a project’s scope, accelerate a project’s timeline or enhance payroll.

When combined with the state’s manufacturing and agriculture tax credit, which reduces the 7.9% tax rate to 0.4%, the refundable tax credit is almost completely refunded due to Wisconsin’s low corporate tax rate.

Per state statute, companies can earn:

  • 10% tax credit on new jobs (based on payroll).
  • Or, 5% on real property and 3% on personal property.

In competitive scenarios when a project considers multiple states, or when the project includes a corporate headquarter, projects can earn credits on both jobs and capital expenditures.

Below is an example of how the BTC program can impact a project’s cash flow. If the project was a competitive project or included a company headquarter, the project could earn both the $250,000 job tax credit and $900,000 capital expenditure tax credit totaling $1.15 million in credits. (Note: All tax credits are subject to negotiation and approval with the Wisconsin Economic Development Corporation.)

  • 50 new jobs paying $50,000 per year could earn $250,000 in tax credits based on jobs.
  • Or, capital expenditures totaling $20 million ($15 million real property and $5 million personal property) could receive up to $900,000 based on capital expenditures.

If the project was a competitive project or included a company headquarter, the project could earn both the $250,000 job tax credit and $900,000 capital expenditure tax credit totaling $1.15 million in credits.

Contact Coleman Peiffer, senior business attraction manager, or visit Wisconsin Department of Revenue to learn more.

 

Alliant Energy named a Top Utility in Economic Development

Site Selection Magazine 2021 Top Utilities logo

For third consecutive year Site Selection magazine recognizes the company’s contributions to business development and job creation

MADISON, Wis. – September 2, 2021 – For the third year in a row, Alliant Energy was named on Site Selection magazine’s Top Utility in Economic Development list. The annual list recognizes the company for its contributions to community development and job creation.

In its September issue, Site Selection credits Alliant Energy’s economic development team, in collaboration with local, regional and state partners in Iowa and Wisconsin, for delivering more than $906 million in new capital investment and more than 2,200 new jobs in 2020.

Alliant Energy is one of 20 companies nationally named to the list and the only one in Iowa. In all, there are 3,300 utility companies, including 900 electric cooperatives, in the United States.

“Alliant Energy is extremely proud to once again be honored as a top utility in economic development and we are honored to be among such strong industry peers,” said John Larsen, chair, president and CEO of Alliant Energy. “Guided by our purpose of serving customers and building stronger communities, our partnerships with the 1,300-plus communities we serve in Iowa and Wisconsin helped bring more than 30 new industrial and warehouse projects to life in the last year. Today, we share this award with them.”

Site Selection noticed Alliant Energy’s innovations in the absence of travel and on-site meetings. The company added interactive maps to its Alliant Energy economic development web page to allow site location consultants and real estate executives to tour Alliant Energy’s industrial sites virtually. The platform showcases certified sites across Iowa and Wisconsin and provides data on community assets, labor force, population, transportation routes, site costs and utility capacity including electricity, natural gas, water, wastewater and broadband.

“Working with Alliant Energy on developing interactive maps to showcase the Lincolnway Industrial Rail and Air Park in Clinton, Iowa has been essential to maintain close relationships with our region’s utility partners during the challenges of a global pandemic,” said Andy Sokolo

Site Selector also recognized Alliant Energy’s transition to renewable energy. Business customers have environmental demands and sustainability goals and seek to partner with companies like Alliant Energy, whose Clean Energy Blueprint guides its work to sustain the economic and environmental health of the communities it serves. Current Alliant Energy business customers like 3M, PepsiCo, Kerry Group, Mars, General Mills and many others have committed to moving their operations to 100% renewable electricity. Alliant Energy has embraced new technologies to help them achieve their goals and continues to adapt and become more resilient and reliable.vich, vice president of economic development with Clinton Regional Development Corporation. “Alliant Energy continues to support our economic development efforts as contributing members of a thriving community.”

Site Selection delivers expansion planning information to 45,000 site location consultants and executives of fast-growing firms and is considered the senior publication in the development field. The magazine bases its award ranking on a utility’s efforts to cultivate industrial business development, job creation and the populations it serves.

Large industrial warehouse and production space ready for new opportunities

inside of warehouse

Are you seeking an industrial production and warehouse site in the Midwest? This cost effective and clean warehouse, production, assembly or manufacturing property is new on the market in Cedar Rapids, Iowa. It offers 20,000 to 96,000 square feet of high or medium bay space for sale or lease. The building sits on a 34-acre lot, located just one half mile north of U.S. Highway 30, and within one mile of Interstate 380. It is served by rail. 

Building details include 44,000 square feet of air-conditioned space, 11 docks, four overhead doors and 130 automobile parking spaces. Other amenities include compressed air, a 2,000kilowatt generator, and 12,400highvoltage service with available 3,200amp panel. It has a shared break room, a conference room and a locker room with restroomsThere are currently three acresmore or lessof paved outdoor storage and additional trailer parking on site with room to expand to more or less than 10 acres. The building could be expanded up to an additional 150,000 square feetIt is available for possession within 30 days. Flexible lease terms are available. The sale price is $6,250,000. 

For additional information about the property, contact Mary Meisterling, Manager Business Support and Development Account Management at 319-558-7122 or marymeisterling@alliantenergy.com. 

Battery project to become a model throughout the country

Decorah Ribbon Cutting Ceremony

Decorah Ribbon Cutting Ceremony

Alliant Energy’s new battery storage project in Decorah, Iowa, makes room on the grid for rooftop solar and maintains reliable electrical service across the community. Recently in service, this innovative project is jointly supported by Alliant Energy, the U.S. Department of Energy (DOE) Office of Electricity, Sandia National Labs and the Iowa Economic Development Authority (IEDA).

“Whether it’s ethanol, biodiesel, wind or solar, Iowa is a renewable energy powerhouse and it’s because of innovative companies like Alliant Energy,” said Iowa Gov. Kim Reynolds. “This battery storage project in Decorah will create jobs, spur local investment and serve as a model for America’s growing energy sector.” 

Alliant Energy’s commitment to battery storage is part of its Clean Energy Blueprint to accelerate the transition to renewable energy and enhance the economic and environmental health of the communities it serves. 

“We see an exciting future for creative energy storage projects that provide cleaner energy for our customers,” said Terry Kouba, president of Alliant Energy’s Iowa energy company. “Our batteries store solar power created when the sun is the brightest and then release that energy later in the day. This is an innovative way to both manage the grid and deliver more renewable energy to customers.”

The Decorah battery project connects to a circuit in the town with a high concentration of customer-owned solar systems and provides low-cost renewable energy at peak times of the day. It also relieves the load on the circuit and avoids the cost of rebuilding the grid to accommodate the excess electricity from the solar panels.

“What is happening here in Decorah will soon become a model throughout the country,” said Dr. Imre Gyuk, director of energy storage research for the DOE Office of Electricity. “As more and more renewable energy comes online, more and more storage will be needed for balance.”

The company has a smaller battery in a similar application near Wellman, Iowa. Alliant Energy also added a battery to store energy from the company’s 2.55-megawatt AC solar garden in Marshalltown, Iowa. 

Alliant Energy announces progress toward Clean Energy Vision in 2021 Corporate Responsibility Report

couple planting tree

At Alliant Energy, we recently released our 2021 Corporate Responsibility Report highlighting advancements in renewable energy and progress on our clean energy vision. The report focuses on our environmental, social and governance programs and the continued emphasis on the communities we serve. 

When it comes to progress, successful execution of our strategy has yielded the following achievements:  

  • Carbon dioxide reduced 42% since 2005.  
  • 1,100 megawatts of coal retired with plans to retire another 1,300 MW by the end of 2024.  
  • 10% of light-duty fleet vehicles are electric.  
  • Water use reduced 66% since 2005.  

We take great pride in advancing a more sustainable future through our purpose-driven strategy to serve customers and build stronger communitiesWe were also pleased to announce our plan to add more than 1 million trees to our service areas over the next decade in honor of our customers.

To achieve this goal, Alliant Energy will partner with organizations and communities throughout Iowa and Wisconsin in support of public forest restoration and preservation, urban forestry projects and other tree planting efforts.

The new tree planting initiative is in addition to plans to expand solar energy generation and build out the connected energy network while focusing on building a stronger, more diverse energy grid. 

Collectively, these initiatives position Alliant Energy to achieve our sustainability goals, which include eliminating all coal from our generation fleet by 2040 and achieving net-zero carbon dioxide emissions from electricity generated by 2050. These goals are part of Alliant Energy’s Clean Energy Blueprint, our roadmap to a cleaner, more reliable and resilient energy generation future.

Iowa’s governor names John Larsen to Carbon Sequestration Task Force

John Larsen, Alliant Energy

Iowa Gov. Kim Reynolds named Alliant Energy Chair, President and CEO John Larsen to a new task force to explore carbon sequestration and the opportunities it presents for economic development. The Carbon Sequestration Task Force will leverage Iowa’s look to capitalize on nationwide demand for a more carbon-free economy. 

According to U.S. Geological Survey, carbon sequestration is the process of capturing and storing atmospheric carbon dioxide. It is one way to reduce the amount of carbon dioxide in the atmosphere; the ultimate goal is to reduce global climate change. 

“Iowa is a recognized leader in renewable fuel and food production, and this is another opportunity to lead and be innovative, invest in Iowa agriculture, and facilitate new sources of revenue for our agriculture and energy sectors,” Gov. Reynolds said in a statement. “I am proud to bring together an impressive team of stakeholders that will help formulate smart, commonsense policy recommendations on this issue ahead of the 2022 legislative session.” 

Joining Larsen on the task force are other key stakeholders representing industries and interests integral to the carbon sequestration supply chain in Iowa. According to Secretary of Agriculture and task force Vice Chair Mike Naig, the group will work together to identify strategies to expand current conservation efforts, create revenue streams, improve financial sustainability and grow Iowa’s economy. 

“I’m honored to work with this group of respected, forward-thinking industry leaders to explore carbon sequestration opportunities for the state of Iowa,” said Larsen. “I look forward to participating in solutions that expand and enhance economic and environmental health of the communities we represent.” 

As part of the Carbon Sequestration Task Force, Larsen will have the opportunity to bring Alliant Energy’s expertise and energy vision to the forefront. As we create innovative solutions to complex problems, advance clean energy, strengthen our communities and build a smarter, stronger power grid, our dedication will be integral to the task force’s carbon sequestration efforts. 

Manufacturing and Agriculture Tax Credit reduces corporate income tax rate to 0.4%

woman sorting apples

woman sorting applesThe state of Wisconsin has a long, successful history in manufacturing and agriculture. From sausage and cheese to motorcycles and military equipment, the industries are the foundation of Wisconsin’s economy. According to the Wisconsin Center for Manufacturing & Productivity website, more than 25% of the state’s labor force was in manufacturing last year and the industry was responsible for $12.8 billion in exports. And, according to the Department of Agriculture and the Trade and Consumer Protection website, the agriculture industry made up 12% of the state’s labor force last year and saw $3.37 billion in exports. 

A talented workforce, a robust technical college system and over 14.3 million acres of farmland are factors in the success of these industries. Wisconsin’s favorable tax environment is also helpful.  

Wisconsin’s manufacturing and agriculture tax credit is a statutory tax credit available to claimants that derive qualified production activities income from property located in Wisconsin that is assessed as either manufacturing or agricultural. According to the Wisconsin Economic Development Corporation website, “the tax credit amounts to 7.5% of ‘eligible qualified production activities income,’ resulting in an effective corporate tax rate of 0.4% as of 2016.” The tax credit is in perpetuity and has no maximum dollar limit.  

When combined with the state’s property tax exemption on production machinery and the sales and use tax exemption on products used in the manufacturing process, including repair parts, it is no wonder that Wisconsin continues to be a national leader in the agriculture and manufacturing industries.  

Learn more 

Contact colemanpeiffer@alliantenergy.com or visit Wisconsin Department of Revenue