The National Association of Industrial and Office Properties (NAIOP) 2005 Comparative Business Property Tax Study reports that in 2005 taxes on a typical 70,000 sq. ft. building in Minnesota were $108,649.00. Rates for a similar building in Wisconsin were $62,009.
Save nearly 50% on industrial and commercial property taxes. Since property taxes are a recurring business expense the savings earned could go a long way in paying for a new or existing facility.
| "If a businessperson builds a $1 million building in Wisconsin instead of Minnesota the property tax savings alone (over 10 years) would pay for the building." --Rich Forschler NAIOP Lobbyist and Attorney at Faegre & Benson |
Wisconsin's Corporate Income Tax flat rate is 7.9%
Wisconsin property tax state average is 2.216%
Hudson property tax rate is only $14.39 per $1000 of assessed value
Computers and related equipment, manufacturing machinery and equipment, manufacturing inventories, merchant's inventories, and pollution controls equipment are all exempt from property tax.
Sales and Use Tax
Wisconsin's sales tax rate is 5%
St. Croix County sales tax rate is 0.5%
Total Sales Tax rate for businesses located in the St. Croix Business Park: 5.5%
Visit the Forward Wisconsin website at http://www.forwardwi.com for additional state cost comparison information
Wisconsin new employers (first two years) with payroll greater than $500,000 is 3.25%
Base wage=$10,500
Minimum rate=0.02%
Maximum rate=9.75%
FUTA penalty=0%
Workers Compensation
Wisconsin has reduced workers compensation rates six out of the past seven years and offers some of the lowest rates in the nation.
Wisconsin average for manufacturers=$4.43 per $100 payroll
Click here to compare workers compensation rates
Studies performed by the Wisconsin Dept. of Workforce Development Division of Labor Market Information show that St. Croix County average annual wages were 69% of wages in Minneapolis/St. Paul.
The City of Hudson and the St. Croix Business Park are located within the Minneapolis-St. Paul metropolitan statistical area, although wage rates are shown to be lower than average for the MSA.
Click here to view wages for specific occupations in the St. Croix Business Park
To learn more about specific program requirements and eligibility please visit the State of Wisconsin's site for Business Development. It is www.commerce.state.wi.us/BD/
| "Expanding our business in Hudson was a natural choice for us. We were already at home in Hudson and the St. Croix Business Park offered us a great location in which to grow our business. We enjoyed working with the St. Croix Business Park officials on this expansion and felt as though they were as excited about our project as we are." --Kathryn Benson, Eagle Packaging |
Xcel Energy is the provider for the St. Croix Business Park