Northwest Side Community Development Corporation Closes $652,000 Loan to Helios Solar Works
This is the Northwest Side Community Development Corporation’s second OCS-backed loan to close in 2012; at least 40 jobs to be created by high-tech manufacturer of solar modules in the Menomonee Valley.
Milwaukee, WI – July 9th, 2012 –The Northwest Side Community Development Corporation has closed on a $652,079 loan to Helios Solar Works, a manufacturer of high-performance mono-crystalline solar modules for use in solar electric systems. Helios opened its manufacturing facility located in the heart of the Menomonee Valley at 1207 W. Canal Street, Milwaukee in 2011. The loan funds were granted to the Northwest Side CDC (NWSCDC) by the Office of Community Services in the Administration for Children and Families under the U.S. Department of Health and Human Services.
Helios plans to use the funds to continue its growth by purchasing equipment and making improvements to its manufacturing facility to meet the demands of new orders from customers in the United States, Asia, and Europe. With the support of NWSCDC’s loan, Helios plans to add up to 40 new jobs in the near future.
Helios is a prime example of the important role that Milwaukee’s power, energy, and control manufacturing cluster will play in the economic future of Southeastern Wisconsin. As the renewable energy, smart grid, and micro-grid industries grow, so will the need for the manufacturers that build components which create, store, transmit, and manage that power.
Some of Helios’ new customers are major manufacturers and brands in Europe and Asia. Helios’ high-tech manufacturing processes ensure high-performing and extremely efficient solar modules that are good enough to carry the name of European and Asian brands known worldwide. “It is very satisfying to know that the NWSCDC is helping Helios ship solar panels to customers worldwide stamped ‘Made in Milwaukee’ said Sam McGovern-Rowen, NWSCDC Planning Director.
Northwest Side CDC will celebrate its 30th anniversary in 2013, and has built a strong reputation for collaborating with manufacturers on economic and workforce development projects. “Helios is creating good jobs in the Menomonee Valley, in what I view as the southern end of the 30th Street Industrial Corridor. We look forward to helping Helios recruit new workers from the low-income communities we serve so that they also benefit from the renewal in the Valley and the Corridor,” said Howard Snyder, Executive Director of the Northwest Side CDC.