Governor Scott Walker toured Kenall Manufacturing and discussed the tax savings for Wisconsin employers as a direct result of the stable Unemployment Insurance (UI) Trust Fund.
Employers covered under the UI program will experience an estimated $38 million reduction in their UI taxes for the year 2017, which marks the second consecutive tax year that employer UI taxes will decline. When combined with the $97 million reduction for tax year 2016, employers will see an estimated reduction of $135 million.
“Kenall Manufacturing is a great example of a company dedicated to workforce development through their training programs,” said Governor Walker. “By reducing the unemployment insurance tax burden, Wisconsin businesses can focus on investing in their current employees with ongoing skills training and attracting new workers.”
The UI program remains strong and available to workers who become unemployed through no fault of their own. The UI Trust Fund is the healthiest it has been since 2003 which benefits employers and workers alike.
“We are working to reinforce that unemployment insurance is for short-term support,” added Governor Walker. “The focus needs to remain on making sure companies like Kenall Manufacturing are able to continue to grow.”
Kenall Manufacturing began consolidating their operations in Wisconsin beginning in 2013 and completed its move a year later. Originally based out of Illinois, the company chose southeastern Wisconsin as the optimal location to implement their growth plan. In 2015, the company received a Wisconsin Fast Forward grant to implement cross-training for existing employees and offer continuing education programs in partnership with Gateway Technical College.