Contact:
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.
