(Beaver Dam) The Beaver Dam mayor calls Generac’s plan to construct a new facility in the city an “incredible opportunity.” The business plans to build a 320-thousand-square-foot facility in the Highway 151 Business Park. Mayor Becky Glewen says it is a win for the entire region.
“It’s a great company and I think what they’re known for is good jobs and good pay and that’s just exciting for our area,” says Glewen. “Because that upward motion then puts pressure on wages in our area and we hope to see that increase around the whole area for everyone.”
Last week, the Beaver Dam Common Council unanimously approved a developer’s agreement with Generac so work can officially begin. Glewen notes one key requirement that was included in the agreement.
“The whole build-out has to be a $35-million-dollar guarantee to the city…to the industrial park…it could very well be more than that but the guarantee has to be $35-million,” says Glewen. “At the very completion of the project [Generac] would receive $4.5-million in [incentives] then on that completion.”
Glewen adds that the city is expecting an increase of approximately $742-thousand-dollars in annual tax payments if that $35-million-dollar assessed value is maintained. That amount would be split between the city, county, schools, and Moraine Park Technical College.
The developer’s agreement also allows the opportunity for future expansion. Glewen says it takes a lot of outreach to bring a company like Generac to Beaver Dam.
“And a lot of people being aware of the properties that we have…we just have great accessibility on the highway system and where our location is as far is in the state and within the United States,” says Glewen. “So, those types of things are constant so that when projects come up…a broker working on that goes, ‘wait a second…we know of a property over in Beaver Dam’…and that’s really how that conversation started.”
The new facility will include a mix of manufacturing and office employees, and will eventually employ up to 350-to-400 people in total. Once complete, it will serve as a hub for expanding the company’s production of industrial generators. Generac will begin construction this fall with a completion goal of early 2025.
