GOV. MCCALLUM ANNOUNCES INDUSTRIAL REVENUE BOND APPROVALS
Projects will spur jobs, investment in Wisconsin communities

MADISON – Gov. Scott McCallum today announced the allocation of $24,500,000 of Industrial Revenue Bonding Authority for eight local business expansion projects. Industrial Revenue Bonds are tax-free bonds 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.

"I am especially pleased that we could help promote job creation and investment in communities across Wisconsin that need new economic development opportunities for their residents," Gov. McCallum said. "These awards will help these manufacturers increase production and improve their competitive edge."

Gov. McCallum noted that the projects would create 303 jobs at an average starting wage of $13.70/hr.; retain 485 jobs; and generate $43,514,000 in new capital investment. The awards were made at the Department of Commerce Volume Cap Allocation Council meeting held October 24 in Madison.

The following summarizes the successful proposals:

Alaark Manufacturing Corporation, Sheboygan, Sheboygan County, $2,000,000 VCA.
Alaark Manufacturing Corporation is a custom machine shop with tool-and die-making capabilities. The company also designs and builds automation projects ranging from programmable logic controllers to robotics and vision systems. The project includes the construction of a new 40,000-sq.-ft. manufacturing facility in the Sheboygan industrial park and the purchase of equipment. The project will create 20 new jobs over the next three years at an average wage of $20.15/hr. and retain 50 jobs. The total project cost is $3.7 million.

Don Evans, Inc. d/b/a Evco Plastics, Oshkosh, Winnebago County, $5,000,000 VCA.
Evco Plastics is an international custom-injection molder of thermoplastic resins with capabilities that include mold design and construction. The project includes the construction of a new 45,000-sq.-ft. manufacturing facility in the Aviation Industrial Park in the City of Oshkosh and the purchase of new equipment. The project will create 56 new jobs at an average wage of $12.74/hr. and retain 59 jobs. The total project cost is $11 million.

Leer Limited Partnership, New Lisbon, Juneau County, $2,700,000 VCA
Leer Limited Partnership produces and markets the Leer, Starrett and Star brands of ice merchandisers. Leer also manufactures stock and custom walk-in coolers and freezers, as well as refrigerated transports for use in transporting ice, frozen foods, and perishables. The project includes the purchase of land, the construction of a new 177,000-sq.-ft. manufacturing facility in the City of New Lisbon, and the purchase of new equipment. The project will create 19 new jobs over the next three years at an average wage of $10.79/hr. and retain 111 jobs. The total project cost: $5.65 million.

Professional Power Products, Inc., Darien, Walworth County, $4,000,000 VCA.
Professional Power Products, Inc. manufactures power-generation equipment for both the domestic and international markets. The project includes the construction of a 68,000-sq.-ft. facility on ten acres of land in a Village of Darien business park. The project will create 63 new jobs over the next three years at an average wage of $15.32/hr. and retain 24 jobs. The total project cost is $5.6 million.

Quality Panels, Inc., Genoa City, Walworth County, $3,500,000 VCA.
Quality Panels, Inc. is a supplier of electrical panels and electrical hardware/software design. The project includes the purchase of land, the construction of a 32,000-sq.-ft. manufacturing facility in the Corporate Ridge Business Park in the Village of Genoa City, and the purchase of new equipment. The project will create 15 new positions over the next three years at an average wage of $13.44/hr. and retain 18 jobs. The total project cost is $4.2 million.

Surface Mount Technology Corporation, Grand Chute, Outagamie County, $2,300,000 VCA.
Surface Mount Technology Corporation is an electronics manufacturer that produces printed circuit board assemblies for a variety of industries. The project includes the construction of a new 33,600-sq.-ft. manufacturing facility in the Town of Grand Chute and the purchase of new equipment. The project will create 80 jobs over the next three years at an average wage of $10.45/hr. and retain 80 jobs. The total project cost is $4.7 million.

Welcome Dairy, Inc., Hull, Marathon County, $2,000,000 VCA
Welcome Dairy, Inc. manufactures pasteurized process cheese and also cuts and packages natural cheese. The project includes a 45,256-sq.-ft. expansion of the company's existing production facility in the Town of Hull and the purchase of equipment. The project will create 20 new jobs over the next three years at an average wage of $10.73/hr. and retain 60 jobs. The total project cost is $3.6 million.

Weldall Mfg., Inc., Waukesha, Waukesha County, $3,000,000 VCA.
Weldall Mfg., Inc. is a metal fabrication shop specializing in the manufacture of component production, welding, machining and assembly work, with capabilities for pneumatics and hydraulics applications. The project involves the purchase and installation of new equipment at the company's existing site in Waukesha that will open up new business opportunities, improve quality and increase efficiency. The project will create 30 jobs over the next three years at an average wage of $15.96/hr. and retain 83 jobs. The total project cost is $5 million.

For further information about the Volume Cap Allocation Program, contact Bill Wheeler, Department of Commerce, at 608/267-2045.