Sussex IM expansion will create 84 jobs, draw $9.9 million capital investment
MADISON, WI. FEB. 24, 2021 – Sussex IM, a custom plastic injection molding enterprise, is expanding its operations in Sussex by investing $9.9 million in multiple projects expected to create 84 jobs over the next three years.
“In addition to the jobs created by this project, this expansion will allow Sussex IM to take advantage of a growing market and increased demand for its services,” said Missy Hughes, secretary and CEO of WEDC. “These projects mark the latest example of companies choosing to establish or expand operations in Wisconsin because of our positive business climate and dedicated workforce.”
WEDC is supporting the project by authorizing up to $200,000 in state income tax credits over the next three years. The actual amount of tax credits Sussex IM will receive is contingent upon the number of jobs created during that period. WEDC has also awarded up to $2.63 million in volume cap allocation for the project’s industrial revenue bond (IRB) financing. IRBs are a financial product that allow the public and private sectors to cooperate on business expansions. The program enables companies to take advantage of the municipal bond market and access lower interest rates to finance capital expenditure spending.
Sussex IM is in the process of building its first clean room space at its facilities in Sussex to mold medical products. According to the company, the clean rooms are being built to meet increasing demand for medical molding products produced in the U.S.
The addition of the clean room capacity will benefit its existing customers and position Sussex IM for growth with new strategic medical molding partners. The company’s strategy is to increase clean room capacity over the next two years to meet the increased demand for medical molding.
Another investment initiative seeks to accommodate production of decorated blow-molded antibacterial wipes canisters. The new molding line requires continuous extrusion blow-molding machines and automation to produce up to 10 million canisters annually.
In addition to the 84 jobs expected to be created by Sussex IM, an economic modeling study estimates the project could indirectly generate 109 additional jobs in the region. Those 193 total jobs are expected to generate $342,616 in state income taxes annually.
“Sussex IM is well deserving of being awarded Business Development Tax Credits as they continue to expand their facility operations,” said state Sen. Chris Kapenga. “With that comes the creation of close to 100 more jobs in Waukesha County. I’m looking forward to seeing them continue to thrive in Sussex.”
“I am happy to hear another great business in the 98th Assembly District is expanding operations and bringing manufacturing jobs back to Wisconsin from overseas,” said state Rep. Adam Neylon.
Sussex IM Inc. was established in 2010, but the company’s history goes back more than three decades, starting with Sussex Plastics Inc., which was formed in 1977 on one of the company’s current sites in Sussex.
Today, it is a complete molding, decorating and assembly solutions provider. The company’s services extend from product design to warehousing, and its markets include consumer goods, cosmetics packaging, health care products, agriculture products and industrial applications.