Economic booster shot announced

January 19, 2012 by  

Citizens and business owners in Janesville stood in support as city council unanimously approved a development application from Miniature Precision Components, the largest manufacturing operation to come to the area since the GM plant closed three years ago.

Postcard printing by MPC to announce the exciting news is expected soon as thousands of Janesville residents celebrate the probability of jobs and the return of some measure of economic prosperity in the area.

Ed Turner of Janesville told the local television outlet:

“the last few months have been pretty tough.”

Turner is one person among many who have not worked in months.

Auto parts supplier Miniature Precision Components is eye-balling the Helgesen building in the southern part of Janesville as possible headquarters.

City council agreed to a tax financing deal that MMP asked for in their proposed development agreement. It is estimated that 90 new manufacturing jobs will be created in Rock County within the next two to three years. Salaries for the expected jobs are in the $12 to $17 an hour range.

Even though the economy has improved slightly in the Janesville and Rock County area, in part due to the expansion of several hospitals, the unemployment rate hovers at 8.4 per cent. That is over a point higher than the state average.

Recent projects have included the $145 million expansion of St. Mary’s Janesville Hospital as well as the renovation of Dean Clinic-Janesville East, which is located at the intersection of Interstate 90/39 and Highway 11.