Mercury to return tax breaks to Oklahoma

SOURCE: Marketplace Magazine
Following the Mercury Marine union vote in Fond du Lac last week, finalize its decision to remain headquartered in Fond du Lac and to shift work there over time from Stillwater, Okla., the company announced today it will return tax relief it had received in Oklahoma.

A bill signed into law June 1 was designed to help such companies as Mercury Marine deal with unprecedented market weakness.

“Depending on who you talk to, it’s either between $1.2 [million] and $1.6 million,” said Oklahoma Rep. Cory Williams (D–Stillwater), a co-sponsor of the tax break.

Mercury union employees voted Thursday and Friday to agree to labor contract modifications. As a result, Mercury is shifting manufacturing from its Stillwater, Okla., facility to Fond du Lac.

“With the decisions made last week around the consolidation of our under-utilized manufacturing capacity, it is unlikely that Mercury Marine will qualify for the criteria outlined by the spirit of the bill in terms of employment levels and the scale and scope of our operation in Stillwater,” said Mark Schwabero, president of Mercury Marine.

Mercury Marine is working with county and state officials in Oklahoma to make an immediate payment for any benefits it has received under this legislation.