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FABRICATING SPECIALISTS GET CHECK
Friday, August 29th, 2008 -- 10:21 am
Posted by Riley Hebert-News Director
The City of Neillsville presented a big check to an up-and-coming business Thursday.
Neillsville Mayor Diane Murphy hopes the $245,000 will help Fabricating Specialists, a Division of Mayville Engineering, get off on the right foot.
It's a big investment, but comes with some string attached.
"They're going to produce 50 jobs within a two-year period of start-up, plus, retain the jobs for a five-year period," Murphy said.
If the fledgling company doesn't live up to their end of the deal, they'll repay the money.
The $245,000 is divided two ways. $120,000 is earmarked for the purchase of equipment to help with the initial set-up; the remainder of the money is considered a $2,500 per-job incentive.
Steve Donovan of Fabricating Specialists was on hand at the Leeson South building. His company will initially lease a portion of the plant and he hopes to get started soon.
"This is a very exciting day. We're within days of actually starting this thing up," Donovan said, "We hope to start some limited production by early October, with full-production by the middle of November."
"We're getting very, very positive response from some customers. I think we're going to grow quite rapidly," Donovan predicted.
The Listeman Foundation was instrumental in making the project happen. They supplied the city with $150,000 of the $245,000 incentive. The remainder comes from Economic Development fund monies.
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