Mining equipment sales would mean more sales tax, but not necessarily new jobs
By Kay Nolan, March 5, 2012
Kay Nolan is a contributing writer for WisBusiness.com. This article ran in the March 5, 2012 issue.
MILWAUKEE — A proposed new iron ore mine in northern Wisconsin is unlikely to boost jobs at Milwaukee-area manufacturers Joy Global and Caterpillar, leading makers of massive blasting and hauling equipment.
But the project could mean hundreds of millions of dollars in sales for the companies – and the state’s general fund would reap the accompanying sales tax
By one conservative estimate from one company that might supply the mine’s likely needs, at least $4.8 million could go into the general fund as the Gogebic
Taconite mine gets going.