MADISON – Governor Scott Walker announced that Transthermal, LLC, of Conover has received certification for the Qualified New Business Venture and the Qualified New Business Venture Capital Gains programs from the Wisconsin Economic Development Corporation. Transthermal has projected creating up to 234 new jobs over the next three years.
The QNBV status makes investors in the company eligible for a 25 percent tax credit on the amount they invest in the business. The QNBV Cap Gains program allows investors who have Wisconsin capital gains liabilities to defer cap gains taxes by investing the capital gain into Transthermal, LLC.
The WEDC said the QNBV program and new incentives for investment in these companies will accelerate their potential for growth and job creation in Wisconsin.
Transthermal, LLC, is a newly formed Wisconsin limited liability company, spinning out of Livingston Products, Inc., a contract engineering and manufacturing company. Transthermal will use the funds to establish an office and research and development space in Eagle River and continue the development of the company’s cooling technologies.
The WEDC is Wisconsin’s lead economic development agency.
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