GREEN BAY, Wis (WFRV)-- Many of the historic buildings in downtown Green Bay are abandoned but soon some of those sites will be rehabbed and hopefully draw more business to the area.
“Things like that make this place a center piece and magnet to draw people to the downtown and into Green Bay," said Gov. Scott Walker
Gov. Walker signed a Historic Tax Credit bill at Hotel Northland Wednesday that will help these businesses.
The new law helps gives tax breaks of up to 20-percent to companies hoping to preserve and rehab buildings built before 1936.
“Often times that last 5% or 10% will make a difference for us to provide up to 20% credit along with the historical tax credits offered at the Federal level can help a project like this," Walker said
That money will go towards the $35 million restoration project to re-open Hotel Northland on North Adams Street and create 200 permanent jobs.
Executive Dir. of Hotel Northland, Mike Frantz, said, “The trickle down of that $35 million coming from the community will be significant over the next year.”
The money will also be used to help Titletown Brewing Company expand its operations to the vacant building across the street.
There’s about 45,000 square feet of vacant space in this building. We’re told Titletown’s distillery and brewery will be on the first floor and this expansion will help boost their production numbers.
“We wanted to produce more beer and this building gives us the opportunity to produce more beer," said Brent Weycker, the President of Titletown Brewery Co.
These projects along with the KI Convention Center expansion will mean more economic growth for downtown.