GOVERNOR DOYLE ANNOUNCES RURAL DEVELOPMENT LOANS

MADISON – Governor Jim Doyle today announced that two Wisconsin businesses will share $92,000 in loans from the Department of Commerce Rural Economic Development (RED) Program.


 


I’ve made economic development a top priority of my administration – improving our business climate, making key investments to upgrade the state’s industries, and creating more than 170,000 new, family-supporting jobs in Wisconsin,” Governor Doyle said. “By providing low-interest loans to rural industries, we are helping to promote economic growth throughout the state.”


 


The following summarizes the successful proposals:


 



A & D Machine, Inc. Redgranite, Waushara County, $42,000 RED loan


A & D Machine, Inc. will use the funds to purchase equipment and for working capital. The total project cost is $397,000 with matching funds being used for land, building and working capital. A & D Machine, Inc. has committed to create 15 full-time positions. The newly-created jobs will be in addition to the seven already employed by the company in Redgranite.


 



Universal Truck Equipment, Inc., Trempealeau County, $50,000 RED loan


Universal Truck Equipment, Inc. will use the funds to purchase equipment. The total project cost is $826,000, with matching funds being used for building expansion costs. Universal Truck Equipment, Inc. has committed to create full-time positions in addition to the 19 people already employed by the company at its Town of Trempealeau location.


 


For more information on Department of Commerce programs and services, contact the Commerce area development manager at www.commerce.wi.gov/MT/MT-FAX-0901.html