Tony Hozeny, 608/267-9661
MADISON – Gov. Jim Doyle today announced that Biax Fiberfilm Corporation, Greenville, Outagamie County, will receive a $150,000 loan from the Community Development Block Grant for Economic Development (CDBG-ED) Program administered by the Department of Commerce (Commerce).
“My Grow Wisconsin plan calls for investing in manufacturing,” Gov. Doyle said. “I am pleased to award this loan to Biax Fiberfilm Corporation to help the company upgrade its technology and create a new demand for wood pulp.”
Biax Fiberfilm Corporation designs and manufactures advanced nonwoven machines that take synthetic microfibers and convert them to a fabric. It supplies machines to the film, hygiene, and insulation industries. The company will use the funds to upgrade manufacturing technologies and processes, create nine new positions, and retain 12 positions. The project cost is $387,000.
Wisconsin communities have realized substantial benefits from the Community Development Block Grant for Economic Development Program (CDBG-ED). 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 on the program, contact Jamie Wall at the Department of Commerce at 608/267-0770.