Dept. of Commerce: Governor Doyle announces industrial revenue bond allocation for Innovative Machining, Inc.

Contact: Tony Hozeny, Department of Commerce, 608-267-9661

Project to create 20 positions

MADISON—Governor Jim Doyle today announced a $2,094,800 Industrial Revenue Bond allocation for Innovative Machining, Inc., Neenah, Winnebago County.

“It’s important we continue to move industries, companies and communities forward and ensure there are good, family-supporting jobs for our citizens,” Governor Doyle said. “I am pleased to help Innovative Machining, Inc. with an expansion project that brings jobs and investment to the area.”

Innovative Machining was formed in 1995 and provides machining and assembly services for many industries, such as paper, personal care products, and automotive industries. The company is expanding its existing production facility and will create 20 positions in Neenah. Total project cost is $2.7 million.

Industrial Revenue Bonds are bonds free of federal tax issued by local governments, and the proceeds are loaned to new or expanding businesses for development projects. The interest rate is generally below the going prime rate.

For more information on Commerce programs and services, contact the Commerce area development manager at http://commerce.wi.gov/BD/BD-AreaDevManagers.html