Contacts: Tony Hozeny, Department of Commerce, 608-267-9661
Laura Smith, Office of the Governor, 608-261-2162
Madison—Governor Jim Doyle announced today that six Wisconsin companies have received Qualified New Business Venture certification from the Wisconsin Department of Commerce. The certification makes investors in these companies eligible for a 25 percent tax credit on the amount they invest in each company.
“These are six great companies that represent the future of Wisconsin’s economy,” Governor Doyle said. “My administration is committed to helping businesses with their efforts to support new economic development opportunities. I am pleased we could help these companies grow and thrive in Wisconsin.”
These new certifications build on the Governor’s efforts to position Wisconsin for future growth. Since taking office in 2003, Governor Doyle has worked aggressively to create and retain jobs in Wisconsin. Governor Doyle’s budget last year created some of the strongest economic development tools in the nation to help businesses create jobs and get people back to work. Wisconsin now has powerful new tax credits to help manufacturers create and retain jobs, new tools to help investors create start-ups, and new incentives to spur research and development.
The Department of Commerce selected these companies for the certification based on their development of new technologies:
Frontier Brick, LLC, Hartland, Waukesha County, was formed in May 2008 to commercialize its patented manufacturing process that extrudes concrete brick, which has the aesthetics of clay brick. This new process eliminates a manufacturing step that accounts for the high cost of clay brick. Frontier Brick will offer brick in all standard colors and textures. It will also offer custom design brick that is hard to find, brick that is no longer in production, and brick containing recyclable materials.
PosiPair, Madison, Dane County, was formed in November 2008 to develop a free online retail and networking service. The company developed software that provides supply-chain management, retail space, marketing services, and social networking services to green businesses, consumers, and nonprofit organizations. The website allows green businesses to present themselves and their products to the site, connecting business and environmentally-conscious consumers.
NeuroGenomeX, Inc., Madison, Dane County, was founded in April 2001 for the advancement of drug development to treat Central Nervous System (CNS) disorders. The main focus of the company is 2DG, a drug developed at the University of Wisconsin-Madison. Further development of the drug has found that it may have a therapeutic effect for people with CNS disorders.
Sandbox International, LLC, Madison, Dane County, formed in April 2007, is a software development firm within the marketing research industry. The company develops qualitative marketing research software that connects organizations and consumers. Sandbox helps companies conceive breakthrough ideas and provides consumer insight throughout the product development process.
HarQen, LLC, Milwaukee, Milwaukee County, was formed in May 2007 to develop a global platform for voice-optimized transactions. The company has developed two working applications. One of the applications allows hiring managers in a business to create custom, automated phone interviews that lists the best prospects after all completed interviews. The other application allows radio stations to run contests in their local market, by engaging listeners and providing opportunities for local advertisers.
Vatrix Medical, Inc., Madison, Dane County, is a research and development company formed in 2007 in Eden Prairie, MN. It relocated its research, development, and clinical activity to Madison in 2009. The company is developing two new tools for the diagnosis and treatment of aneurysms. The first, a diagnosis tool, is a screening device for patients that evaluates if they have, or are at risk of developing, an aneurysm. The second tool is for the treatment of aneurysms. The treatment technology is meant to limit and cease the expansion of the blood vessel wall.
For additional information about the Qualified New Business Venture program, please visit http://www.commerce.state.wi.us/bd/BD-Act255-QNBV.html.