Contact: Tony Hozeny, Department of Commerce, 608-267-9661
Laura Smith, Office of the Governor, 608-261-2162
MADISON—Governor Jim Doyle announced today that Byte Recycle, LLC, Madison, Dane County, has received the Qualified New Business Venture certification from the Department of Commerce (Commerce). Byte Recycle, LLC develops software, hardware, and robotics systems that allow the company to sell used compact discs in the form of digital files to its customers.
The company’s certification by Commerce makes investors in Byte Recycle, LLC eligible for a 25-percent tax credit on the amount they invest in the company.
“Byte Recycle has a foundation of innovative technology and strong leadership and is exactly the kind of company that we need to invest in,” Governor Doyle said. “I am pleased to support a company that represents the future of Wisconsin’s economy.”
Byte Recycle, LLC, formed in summer 2010, purchases used compact discs and turns them into digital music files for users to download onto their computers or digital music players. Used compact discs will then either be recycled or stored, depending on the preference of the customer. The company’s process allows customers to buy, sell, and trade digital music on its system. For additional information, visit http://www.byterecycle.com or contact Matthew Younkle, 608-234-5015, x203.
For additional information about the Qualified New Business Venture program, please visit http://www.commerce.state.wi.us/bd/BD-Act255-QNBV.html.
