Wicor is part of a multinational company founded in Switzerland that manufactures electrical insulation for transformers and plastic components for the automotive, medical, water management and sensor industries.
Wicor officials have confirmed they are considering Urbana, but local officials said they still cannot comment on negotiations.
“Sensitive negotiations are still ongoing to try to recruit a company to the facility,” said Mike Morris, economic development officer for Champaign County.
Patti Harvey, vice president of human resources for Wicor Americas, said the company has known about the loan package for some time, but no decisions will be made until the company’s board votes on a proposal in February.
Urbana City Council last month approved a city income tax abatement proposal for the company if it brought up to 110 jobs to the community by 2012.
A Wicor spokesman said a decision would not be made for several months on the project, which involves relocation of two of Wicor’s existing business units to the vacant 165,000 square foot facility in Urbana. Wicor would close a facility in the United Kingdom and relocate two U.S.-based operations to Ohio, according to state records.
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