To speed our state's economic recovery, it is important that we enact measures to ensure the pillars of our economy remain strong. Wisconsin's economy is unique and diverse and draws from a variety of industries including the top three: Agriculture, manufacturing and tourism.
Our largest industry is agriculture, at an estimated $51.5 billion, which translates into around 420,000 jobs. Within agriculture, dairy is the largest segment, helping to fuel our economy at a rate of more than $39,000 per minute or $20.6 billion per year. Despite tough times for many in agriculture with low milk prices, there is promising growth happening in the cheese making sector of the dairy industry. Recognizing the importance of the dairy and cheese industries to our state and local economies, we took action last legislative session to ensure our state remained competitive both nationally and internationally.
During the 2007-09 state budget process, I authored a provision that created the Dairy Manufacturing Facility Investment Tax Credit. The tax credit is designed to promote reinvestment in our dairy industry, and was signed into law. We are starting to see positive results in our local communities. Although many in the dairy industry are struggling in this difficult economy, we are seeing positive growth in cheese making operations.
In fact, just this week Governor Doyle was in Monroe to announce that $700,000 in dairy investment tax credits will be shared among 25 different dairy manufacturers across the state. The investment projects are using the tax credit to modernize and expand their facilities, and are expected to generate 237 jobs.
Specifically in our area, Wisconsin Cheese Group in Monroe, and Protient, Inc. in Juda, will be utilizing the tax credit. By improving their facilities, they will be able to create jobs and better meet the challenges of today's competitive marketplace.
In addition to the benefits of the dairy investment tax credit, last month the Value Added Dairy Initiative (VADI) released its fifth annual report, which confirmed even more positive trends for the dairy and cheese industry. The report showed that specialty cheese production in Wisconsin rose by 7 percent to 429 million pounds from 2007 to 2008. VADI was implemented in 2004 by the Wisconsin Department of Ag, Trade, and Consumer Protection to provide resources for the dairy industry. The report emphasized that dairy plants have invested more than $1.24 billion to modernize their operations over the past five years and projects future investments of $781 million, which will utilize a variety of VADI's tools and services.
The continuing strength of our cheese production is positive and much welcome news to our state's ailing economy. I believe we need to continue and expand the dairy tax credit, and I have co-authored a bill, Assembly Bill 34, to do just that. It is important our state provide the tools and resources to all businesses so they can compete in a global marketplace. By making our state a friendlier place to do business, we will provide an incentive for job creation, and ultimately, provide a path out of the economic downturn.
I want to hear from you, so please feel welcome to express your thoughts or let me know if I can be helpful to you in any way by calling 888-534-0080, e-mailing me at Rep.Davis@legis.wi.gov or by writing or stopping by 11 West, State Capitol, Madison, WI 53708.
- Rep. Brett Davis, R-Oregon, serves the 80th Assembly District, which includes all of Green County and parts of Lafayette, Rock and Dane counties.
Our largest industry is agriculture, at an estimated $51.5 billion, which translates into around 420,000 jobs. Within agriculture, dairy is the largest segment, helping to fuel our economy at a rate of more than $39,000 per minute or $20.6 billion per year. Despite tough times for many in agriculture with low milk prices, there is promising growth happening in the cheese making sector of the dairy industry. Recognizing the importance of the dairy and cheese industries to our state and local economies, we took action last legislative session to ensure our state remained competitive both nationally and internationally.
During the 2007-09 state budget process, I authored a provision that created the Dairy Manufacturing Facility Investment Tax Credit. The tax credit is designed to promote reinvestment in our dairy industry, and was signed into law. We are starting to see positive results in our local communities. Although many in the dairy industry are struggling in this difficult economy, we are seeing positive growth in cheese making operations.
In fact, just this week Governor Doyle was in Monroe to announce that $700,000 in dairy investment tax credits will be shared among 25 different dairy manufacturers across the state. The investment projects are using the tax credit to modernize and expand their facilities, and are expected to generate 237 jobs.
Specifically in our area, Wisconsin Cheese Group in Monroe, and Protient, Inc. in Juda, will be utilizing the tax credit. By improving their facilities, they will be able to create jobs and better meet the challenges of today's competitive marketplace.
In addition to the benefits of the dairy investment tax credit, last month the Value Added Dairy Initiative (VADI) released its fifth annual report, which confirmed even more positive trends for the dairy and cheese industry. The report showed that specialty cheese production in Wisconsin rose by 7 percent to 429 million pounds from 2007 to 2008. VADI was implemented in 2004 by the Wisconsin Department of Ag, Trade, and Consumer Protection to provide resources for the dairy industry. The report emphasized that dairy plants have invested more than $1.24 billion to modernize their operations over the past five years and projects future investments of $781 million, which will utilize a variety of VADI's tools and services.
The continuing strength of our cheese production is positive and much welcome news to our state's ailing economy. I believe we need to continue and expand the dairy tax credit, and I have co-authored a bill, Assembly Bill 34, to do just that. It is important our state provide the tools and resources to all businesses so they can compete in a global marketplace. By making our state a friendlier place to do business, we will provide an incentive for job creation, and ultimately, provide a path out of the economic downturn.
I want to hear from you, so please feel welcome to express your thoughts or let me know if I can be helpful to you in any way by calling 888-534-0080, e-mailing me at Rep.Davis@legis.wi.gov or by writing or stopping by 11 West, State Capitol, Madison, WI 53708.
- Rep. Brett Davis, R-Oregon, serves the 80th Assembly District, which includes all of Green County and parts of Lafayette, Rock and Dane counties.
