Wisconsin Department of Commerce Newsletter
January 2004
CDBG-ED Program Assists Five Wisconsin Businesses in Job Creation and Retention
The Community Development Block Grant for Economic Development (CDBG-ED) program was designed to assist businesses that will invest private funds and create jobs as they expand or relocate to Wisconsin. Commerce awards the funds to a community, which then loans the funds to a business. When the business repays the loan, the community may retain the funds to capitalize a local revolving loan fund. This fund can then be utilized to finance additional economic development projects within the community.

During the semi-annual reporting period ending June 30, 2003, Commerce made five CDBG-ED awards totaling $891,400, which supported $3,498,240 in economic development projects. These awards leveraged $2,606,840 in private funds and created/retained 176 jobs. (See chart below.)

COMMUNITY

BUSINESS

PROJECT COST

LEVERAGE

CDBG-ED AWARD

JOBS CREATED/ RETAINED

Ozaukee County

Kohler Co.

$338,800

$166,400

$172,400

95

Dunn County

Timber Technologies

$327,000

$221,000

$106,000

13

Outagamie County

Hart Printing

$556,000

$390,000

$166,000

16

Fond du Lac County

Natural Stone Veneer.

$1,970,440

$1,679,440

$291,000

38

Green County

OpenNet Instruments

$306,000

$150,000

$156,000

14

TOTALS

$3,498,240

$2,606,840

$891,400

176

For more information on the CDBG-ED program, contact your local Area Development Manager.

--Dan Ramsey

The newsletter is issued electronically every other month.

Please send comments or questions to Barbro McGinn, editor.

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