The Northwest Side Community Development Corporation is pleased to report that Governor Jim Doyle held an event this morning at the headquarters of our most recent loan client, Nature Tech, to announce a total of $3.1 Million in low-interest loan awards from the State to three Milwaukee businesses to help create or retain nearly 300 jobs.
Nature Tech, a start-up business that produces high-performance insulation products made from recycled newsprint at 5400 W. Good Hope Road, will receive an $800,000 loan. The NWSCDC announced a $640,000 loan to Nature Tech in September. Nature Tech plans to hire more than 40 workers.
The text of the press release from Gov. Doyle’s Office follows below.
Thursday, December 10, 2009
Contacts: Laura Smith, Office of the Governor, 608-261-2162
Tony Hozeny, Department of Commerce, 608-267-9661
Governor Doyle Announces $3.1 Million to 3 Milwaukee Companies to Create 276 Green Jobs
MILWAUKEE – Governor Jim Doyle announced today that three Milwaukee area companies have been awarded $3.1 million in federal funding to help them invest in manufacturing equipment and create 276 new green jobs. The funding builds on the Governor’s efforts to make Wisconsin a national leader in green jobs and clean energy.
“Wisconsin has a tremendous opportunity to be a leader in clean energy,” Governor Doyle said. “With these funds, we will help these companies not only create hundreds of new green jobs in Milwaukee, but also manufacture renewable energy and energy efficient products.”
Governor Doyle has laid out an ambitious strategy to achieve energy independence by calling on the state to generate 25 percent of our electricity and 25 percent of our transportation fuels from renewable resources by 2025. Under the Governor’s plan, Wisconsin will also capture 10 percent of the market share for renewable energy by 2015 and utilize the state’s tremendous research capability to become the country’s leader in making alternative energy more affordable and available.
Governor Doyle announced the following awards at Nature Tech, LLC in Milwaukee:
Helios USA – $1 million. The Milwaukee start-up is a manufacturer that will produce solar panels for residential and commercial applications. It is leasing 40,000 sq. ft. in an existing facility and will invest more than $8 million for equipment and working capital. Helios expects to create 54 new clean energy jobs.
Nature Tech, LLC – $800,000. The company is a Milwaukee start-up manufacturer of energy efficient cellulose insulation manufactured from recycled newsprint. It is leasing a vacant facility and will invest more than $3 million in the project. The company plans to create 47 new clean energy jobs.
ZBB Energy Corporation – $1.3 million. ZBB of Menomonee Falls is investing $4.5 million in equipment and working capital to expand its advanced battery products manufacturing. The company will retain 26 jobs and plans to create 175 additional jobs.
The funding is part of the State Energy Program (SEP) American Recovery and Reinvestment Act (ARRA) fund. Governor Doyle also announced in Oshkosh today $525,000 in SEP funds to Renewegy, LLC to help the company purchase new manufacturing equipment and create 40 new green jobs. In September, the Governor announced a $500,000 SEP loan to Cardinal Glass Industries to upgrade photovoltaic glass production capacity at its Portage $facility.
The Wisconsin Department of Commerce (Commerce) administers the SEP program, and will give priority to projects that:
- Reduce fossil fuel use in manufacturing by deploying renewable energy and energy efficiency technologies;
- Retool Wisconsin businesses to enable them to produce components of renewable energy systems and energy efficient products; and
- Invest in renewable energy projects.
The funding is pending final approval from the U.S. Department of Energy. Click here for applications and program information.