Dept. of Commerce: Gov. Doyle Announces business project in Lincoln County
Tony Hozeny, 608/267-9661
MADISON- Gov. Jim Doyle today announced that Precision Laser Cutting, LLC, Merrill, Lincoln County, will receive a $100,000 award from the Community Development Block Grant for Economic Development (CDBG-ED) Program administered by the Department of Commerce (Commerce). Precision Laser Cutting, LLC, is a startup business that will use new laser machinery to cut product parts for the manufacturing industry.
"My Grow Wisconsin initiative calls for supporting the growth of new businesses in the state," Gov. Doyle said. "I am pleased that this award could be used to aid in job creation in Lincoln County."
"Precision Laser Cutting, LLC, is investing $460,000 to support its growth opportunities," Commerce Secretary Cory L. Nettles said. "It will use the loan to purchase equipment. The project will create 10 jobs and leverage $360,000 in additional investment. The Department worked closely with Lincoln County to make this project happen."
Wisconsin communities have realized substantial benefits from the program. Since 1985, Commerce has made more than 280 awards totaling over $100 million for economic development projects expected to create and retain over 10,000 jobs and leverage more than $270 million in private funds. Currently, 180 communities operate revolving loan funds capitalized by CDBG-ED project loan repayments. For more information, contact Jamie Wall at 608/267-0770.