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Commerce Announces Tax Credits for Food Processing Plants

Beginning this week, businesses that have expanded or modernized food processing plants or food warehouses in Wisconsin can apply for the first round of tax credits through the Department of Commerce’s Food Processing Plant and Food Warehouse Investment Credit Program. Businesses have until June 18 to apply before the second round of applications in February, 2011. This program has a lifetime cap of $200,000 for businesses and provides up to 10% of eligible expenses spent in the taxable year for modernizing and expanding food processing plants and warehouses. For more information and to apply, click on the link above.