Following events last week that helped Mercury Marine 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 under SB 929.
The bill, co-authored by Senator Jim Halligan and Representatives Lee Denney and Corey Williams, was signed into law June 1 and helps companies such as Mercury Marine deal with the unprecedented market weakness.
“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.
About Mercury Marine: Mercury Marine is the world’s leading manufacturer of recreational marine propulsion engines. A $2 billion division of Brunswick Corporation (NYSE: BC), Mercury provides engines, boats, services and parts for recreational, commercial and government marine applications. Mercury’s industry-leading brand portfolio includes Mercury and Mariner outboard engines; Mercury MerCruiser sterndrive and inboard packages; MotorGuide trolling motors; Mercury propellers; Mercury inflatable boats; Mercury SmartCraft electronics; and Mercury and Quicksilver parts and oils.By: Steve Fleming, Communications Manager / Mercury Marine
