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38 | I NSIGH T • A p r i l 2 0 15 w w w . i n s i g h t o n b u s i n e s s . c o m ECONOMIC DEVELOPMENT just in time for the 10th anniversary Kites Over Lake Michigan festival and will host other community events as well. e good vibes are a product of several recent successes in the county, including: » Ironwood Plastics, which announced a $19 million expansion in Two Rivers » Lakeshore Industrial, a manufacturer of custom cages for safely liing personnel and materials, will soon be constructing a new, 11,000-square-foot building in Two Rivers' Woodland Industrial Park. » Jagemann Plating, which expects this spring to complete a $4.5 million, 36,000-square-foot expansion that will bring new equipment and technology to its operations in Manitowoc. » e proposed Wisconsin Agriculture Center, a $10 million to $12 million project that will create both an educational and tourist destination showcasing a working dairy farm. "It seems things are getting better each year," Wills says. ere is, or course, a specter posing a potential challenge to the recent run of good economic news. Manitowoc Co. to split ice, crane divisions Manitowoc Co. announced earlier this year it was splitting its crane and foodservice divisions into two independent companies — a move expected to be complete by the first quarter of 2016. As it stands today, each division would be its own multi- billion dollar company. e move is expected to benefit each company by giving it greater flexibility to pursue individual market strategies and attract additional investors, Glen Tellock, chairman and chief executive officer stated in press releases related to the spinoff. "Manitowoc has taken and continues to take actions to enhance returns, including margin expansion initiatives, re-investment in our businesses, and utilization of our free cash flow to de-lever our balance sheet," Tellock says. "We believe the separation of Cranes and Foodservice will position these businesses to take advantage of anticipated long- term improvement in demand and other opportunities in their respective markets." e company has declined to elaborate beyond its recent press releases because of ongoing legal and financial proceedings related to the separation. Wills says there is always concern when a large regional employer embarks on a major restructuring, and says that while worries about the company scaling back or relocating operations for either or both divisions are real, there are still many unknowns. "We hear all those concerns, but so far there is nothing to react to," says Sparacio. "We continue to reach and let them know we can offer any assistance if needed."