Contact:
Tony Hozeny, Department of Commerce, 608/267-9661
MILWAUKEE – Gov. Jim Doyle today announced that three Milwaukee businesses
will share $385,000 in funding from the Department of Commerce. Commerce
Secretary Cory L. Nettles made this announcement on the Governor’s behalf at
Garfield Park Development, LLC, Milwaukee.
“My Grow Wisconsin initiative calls for fostering economic growth and job
creation in our urban centers,” said Gov. Doyle. “I am pleased that these
companies will use this funding to create jobs and boost Milwaukee’s
economy.”
“The City of Milwaukee is pleased to partner with the Commerce Department as
we work to provide minority entrepreneurs and Milwaukee businesses with the
resources they need to jump-start job growth,” said Mayor Tom Barrett. “We
work hand-in-hand with large and small businesses to help them secure
funding that will help us clean blighted areas of the city and create jobs
where they are needed most.”
“Thanks to effective partnerships with the Department of Commerce and the
City of Milwaukee, I have been able to move this development project
forward,” said Keith Terry, CEO of Garfield Park Development, LLC. “I
appreciate the support and assistance I have received.”
The projects are as follows:
Garfield Park Development, LLC, Milwaukee, Milwaukee County, $81,000
Minority Business Development loan
Garfield Park Development, LLC was created in 2001 to develop, own, and
manage a proposed mixed-use real estate project located in an 85,000
sq.-ft., four-story building in Milwaukee. The company will use the loan
for pre-development activities that will determine overall project costs,
financing needs, environmental concerns, and a market and feasibility for
the study. The total project cost is $162,000.
Capital Returns, Inc., Milwaukee, Milwaukee County, $250,000 Major Economic
Development loan
Capital Returns, Inc. processes and returns outdated drugs and arranges for
disposable of non-returnable products to the correct manufacturer to obtain
credits to customer accounts. The company is investing $1.3 million to
relocate into a larger facility. The project is expected to create 100
positions.
Hoops LLC, Milwaukee, Milwaukee County, $54,000 Brownfields grant
Hoops LLC will transform a Brownfields site on North Martin Luther King Jr.
Drive into a fish and chicken eatery. The grant will be used to reimburse
Hoops LLC owner, James Lindsay, for infrastructure, building rehabilitation,
and eligible remediation expenses. The project will create five full-time
positions in an economically distressed area of Milwaukee.
The Department of Commerce’s Minority Business Development program is
designed to generate and foster the growth of minority businesses in
Wisconsin. The Bureau of Minority Business Development provides consultation
and services to minority business owners, entrepreneurs, and resource
organizations. For more information, contact Jamie Wall, Commerce, at
608/267-0770.
The Major Economic Development Loan program is designed to assist businesses
that will invest private funds and create jobs as they expand in or relocate
to Wisconsin. For more information, contact Jamie Wall, Commerce, at
608/267-0770
The Department of Commerce’s Brownfields program provides grants to
municipalities, local development corporations, and the private sector to
support the assessment, remediation, and return of contaminated lands to
productive use. Brownfields are abandoned, idle, or underused industrial or
commercial properties where redevelopment is hindered by real or perceived
contamination. For more information, contact Jason Scott, Commerce, at
608/267-7714.
