Kimberly-Clark To Get $28 Million Incentive Package

MADISON, WI -- Kimberly-Clark is set to receive $25 million after Gov. Scott Walker announced the financial incentive package Thursday morning.

According to a JSOnline report, the company will receive $25 million in financial incentives over a period of five years. Earlier this year, lawmakers voted down a $70 million package saying the deal put too much of a burden on taxpayers.

The Wisconsin Economic Development Corporation is awarding the company up to $28 million in state income tax incentives over the next five years. The full amount of credits can be earned if the company retains all of its 388 employees through 2023 and makes at least $200 million in capital investment at the Cold Spring facility over that time, state officials said.

The company can also earn tax credits based on how much it purchases in goods and services from Wisconsin companies. The tax incentives are performance-based, which means the company must first carry out the terms of the agreement and provide supporting documentation before it can receive any tax credits, Walker's office reported Thursday.

“Our office worked closely with Kimberly-Clark, WEDC Secretary Mark Hogan and his staff, State Senator Roger Roth and other key stakeholders to develop an incentive package that made sense for the company but also protected Wisconsin taxpayers," Walker said. "We have been proactively engaged with Kimberly-Clark and our local partners since Day One to ensure the company’s continued presence in the Fox Valley- and we’re pleased to preserve hundreds of family-supporting jobs in the region.”

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