MADISON- Governor Jim Doyle today announced a $1,211,250 Industrial Revenue Bond allocation for Van Zeeland Manufacturing, Inc., Little Chute, Outagamie County.
“One of the top priorities of my administration is to help move industries, companies, and communities forward, and ensure there are good, family-supporting jobs for our citizens,” Governor Doyle said. “I am pleased to help Van Zeeland Manufacturing, Inc. with an expansion project that brings jobs and investment to the area.”
Van Zeeland Manufacturing, Inc. manufactures power transmission products including sprockets, gears and pulleys. The company is constructing and equipping a 25,500-sq.-ft. facility that will expand its production capacity by 20 percent. The project will create eight jobs and represent $1.4 million in total investment.
Industrial Revenue Bonds are bonds free of federal tax issued by local governments, and the proceeds are loaned to new or expanding businesses for development projects. The interest rate is generally below the going prime rate.
For more information on Commerce programs and services, contact the Commerce area development manager at http://commerce.wi.gov/BD/BD-AreaDevManagers.html