Governor Doyle Announces Industrial Revenue Bond Allocation in Waukesha

Project to create 7 jobs

MADISON- Governor Jim Doyle today announced $8,000,000 in Industrial Revenue Bond allocations for Gaco Western, LLC in Waukesha, Waukesha County.

“For more than 50 years, Gaco Western has been a national leader in roofing, decking and waterproofing systems. I am pleased to provide Gaco Western with a bond that will allow the company to grow in Waukesha,” Governor Doyle said. “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.”

“Gaco Western is thrilled to center its manufacturing future in Waukesha,” said Gaco Western, LLC President Peter Davis. “In these difficult economic times, the Industrial Revenue Bonds are the reason we could triple our manufacturing capabilities in Wisconsin.”

Gaco Western, LLC was established in 1955 as a producer of architectural coatings. The company will use the funds to help acquire a 7.18-acre site, and construct and equip a 53,500-sq.-ft. production facility. This new plant will expand Gaco Western’s capacity as a manufacturer of polyurethane foam and urethane coatings. The project is to create seven jobs. Total project cost is $9,200,000.

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