Tax credits will aid company as it builds a new global headquarters that will house up to 650 employees
MADISON, WI. AUG. 16, 2018 – The Wisconsin Economic Development Corporation (WEDC) is providing Oshkosh Corporation with $8 million in state income tax credits to support the company’s plans to expand the capabilities of its Oshkosh Defense business and to build a new 190,000-square-foot global headquarters in Wisconsin.
“Oshkosh Corporation is an iconic company that not only employs more than 6,500 workers in Wisconsin, but also purchases goods and services from nearly 1,500 businesses in every region of the state,” Governor Scott Walker said. “We congratulate Oshkosh Corporation on its expansion and continued growth, and thank the company for its ongoing commitment to Wisconsin. Oshkosh Corporation is the latest major employer to expand operations in the state because of the positive business climate and dedicated workforce.”
“It’s an exciting time in the Oshkosh Corporation family. We recently celebrated our 100-year anniversary, we have a great People First culture, our business units are positioned for success and we’ve begun construction on our new global headquarters,” said Wilson R. Jones, Oshkosh Corporation President and Chief Executive Officer. “We are grateful to the Wisconsin Department of Transportation and the Wisconsin Economic Development Corporation for their support of our growth in our hometown of Oshkosh, and we couldn’t be more excited for the future.”
Construction is now underway on the 190,000-square-foot, four-story building that will house up to 650 employees. Company officials say the new global headquarters is needed to accommodate the company’s current and future growth, and to operate more efficiently. Oshkosh Corporation officials also say the state‑of‑the-art headquarters with modern amenities will help the company attract and retain top talent. The headquarters, which is being built on the site of the former Lakeshore Golf Course off the Fox River, is expected to be completed by October 2019.
In addition, the company will make significant investments in its Oshkosh Defense business. Oshkosh Defense has recently been awarded two substantial contracts from the U.S. Department of Defense. The Joint Light Tactical Vehicle (JLTV) contract was awarded in August 2015. The JLTV contract is valued at $6.7 billion, and deliveries are expected through 2024. Oshkosh Defense was also awarded the next generation Family of Medium Tactical Vehicles (FMTV) contract in February 2018. Deliveries under this contract are expected through 2026.
In 2010, Oshkosh Corporation was awarded $35 million in performance-based tax credits for an $87 million project expected to create about 1,000 new jobs and result in $1 billion in purchases from Wisconsin suppliers. That contract was amended in 2015, when the amount of capital investment rose to $137 million and projected supply chain expenditures increased to $2 billion.
With the latest amendment, Oshkosh Corporation is now eligible for up to $55 million in tax credits through 2020. The actual amount of credits the company will receive is contingent upon the number of jobs created and retained, the amount of capital investment the company makes, and the amount of goods and services purchased from Wisconsin businesses through 2020.