Wieland Rolled Products North America announced a new Reimagining Energy and Vehicles in Illinois (REV Illinois) agreement for Wieland's $500 million investment in modernizing its East Alton, Illinois facility.
The investment, which retains 800 jobs across the state, will enable the company to increase production of critical copper and copper alloy components that are used in electric vehicles, EV charging infrastructure and renewable energy production while supporting the state's clean energy economy. Wieland's footprint in Illinois also includes facilities in Carol Stream, Granite City, Montgomery, Tinley Park and Wheeling.
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The announcement comes after a year of work between the state and Wieland. Wieland's plant in Vöhringen, Germany, was used as a benchmark for the modernization of the East Alton facility.
The modernization includes the installation of a new state-of-the-art hot rolling mill.
Wieland's total incentive package from the State of Illinois, which includes REV and other incentives, is valued at approximately $231 million. Through REV, Wieland is eligible to receive tax benefits totaling $172 million over 30 years. The remaining benefits include capital funding for infrastructure projects in East Alton, like the construction of a new electricity substation, flexible funds for workforce support and additional tax incentives.