The Northwest Side Community Development Corporation (NWSCDC) was recently awarded a grant of $600,000 from the U.S. Department of Health and Human Services – Office of Community Services “Community Economic Development” program.
The award was granted to the NWSCDC, a certified Community Development Entity (CDE) and Community Development Financial Institution (CDFI), for a business expansion project to create 30 new jobs with at least 23 of these jobs (75% of the total) to be filled by low-income job-seekers.
NWSCDC will partner with the Milwaukee Economic Development Corporation to fund a loan to Compo Steel Products, located at 3637 N Holton Street, for working capital to fuel expansion and job growth.
“We are grateful for the ongoing support of the OCS Community Economic Development program,” said Howard Snyder, Executive Director of the NWSCDC. “The award helps us build on our continuing work to attract and grow businesses and quality jobs in Milwaukee.”
NWSCDC has worked with OCS/CED projects since 1986. In the last 30 years NWSCDC has received over $10 million in CED awards for projects in Milwaukee. Since 2000, NWSCDC’s twelve CED projects have created 985 new full-time jobs, including 826 full-time jobs filled by low-income job seekers.
“The determined support of our elected officials has been key to our success with the OCS program,” said Andrew Haug, Resource Development Manager. “We want to specially thank Representative Gwen Moore and Mayor Tom Barrett for their support of this program and NWSCDC. This partnership with Compo Steel and Milwaukee Economic Development Corporation will grow quality manufacturing jobs which provide dependable hours and benefits.”
More information about the Community Economic Development Program is at http://www.acf.hhs.gov/ocs/programs/ced