STERLING, Ill. - Wahl Clipper Corp., one of the largest employers in Northwest Illinois, said today it will build a new corporate headquarters in Sterling with the help of a tax credit approved by the Illinois Department of Commerce and Economic Opportunity (DCEO).
The company will invest nearly $8.5 million to build a 40,000-square-foot building on its Sterling campus. With nearly 900 employees already in Sterling, Wahl Clipper has pledged to create at least five jobs and retain its current 114 headquarters staff positions as it responds to growing worldwide demand.
Wahl Clipper, a manufacturer of personal care and grooming devices, will start construction this spring. The building is expected to be complete by year end. "This new facility provides us with a number of great advantages," said CEO Greg Wahl. "First, it frees up a great deal of space in our current facilities to allow us to continue to grow and prosper. It will also provide a state of the art corporate facility as a showplace to our worldwide customer base."
With the expansion, Wahl Clipper has qualified for a tax credit under DCEO's Economic Development for a Growing Economy (EDGE) program, which lets companies reduce their Illinois income tax liability if they locate or expand operations in the state.
"The EDGE tax credits from the State of Illinois were an important factor in our decision to reinvest in Sterling, Illinois. It also underscores our belief in the region as a good place to live and do business," Wahl said. "Wahl Clipper is a quality company and part of the economic bedrock in Sterling and Whiteside County," said Adam Pollet, DCEO director. "This project not only creates new jobs but shows that helping existing businesses is a high priority of Governor Pat Quinn's administration."
The incentive package is worth an estimated $1.6 million over 10 years and includes the EDGE credit, an investment tax credit and a sales tax exemption available because Wahl Clipper is building in an Enterprise Zone.
"I am excited that Wahl, a name brand in homes across the world, is not only staying in Illinois, but expanding its facilities in Sterling and bringing more good jobs to the area," said state Sen. Mike Jacobs (D-Moline). "I hope Wahl can be an example to other business, and show how our state and our workforce can be an asset to a worldwide company."
Now in its 95th year, Wahl Clipper employs approximately 2,000 people worldwide. Its products are available in 165 countries.
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