DeltaHawk Engines: City Council approves $1.2 million DeltaHawk loan
Contact: Joshua Morby (414) 791-9120
Racine, Wis. – The Racine City Council on Wednesday approved a $1.2 million low-interest loan for DeltaHawk Engines, Inc., which plans to manufacture a family of 2 – 12 cylinder engines for the general aviation industry.
The two-percent loan will be provided in $400,000 increments over three years, and is tied to facility improvements on DeltaHawk’s future manufacturing plant in Racine. The Racine Redevelopment Authority unanimously approved the loan last Thursday, paving the way for the Council vote this week.
“We’re excited that the City of Racine has taken the initiative to help us grow our operation and create new jobs in the community,” said Dennis Webb, President of DeltaHawk Engines, Inc.
After several years of research and advanced development, Delta Hawk is excited about the next chapter in their development as a company.
“The financial support of the City of Racine, Racine County, Racine County Economic Development Corporation and the State of Wisconsin puts us on the path to be a global leader in the development and manufacturing of diesel engines for the aviation industry,” said Webb.
This announcement comes on the heels of the State of Wisconsin’s announcement last week that it is also making an investment in the company through the Wisconsin Department of Commerce by providing a $720,000 low-interest loan.
As it expands operations and ramps up manufacturing, DeltaHawk expects to create more than 100 jobs over the next three years.
Founded in 1996, DeltaHawk Engines, Inc. is a manufacturer of innovative, lightweight, fuel-efficient engines for the commercial and general aviation industry. For more information, please visit http://www.deltahawkengines.com.