MORE MONEY FOR BUSINESS START-UP?
Tuesday, September 16th, 2008 -- 11:46 AM
The City of Neillsville might give more money to a company trying to get off the ground.Last month, the city handed Fabricating Specialists a Division of Mayville Engineering Company Incorporated a check for $245,000.
Tonight (Tuesday), the Economic Development Commission will meet at City Hall. On the agenda: discussion and action on a $30,000 grant to Fabricating Specialists. If approved, it would bring the city?s investment to $275,000. $150,000 coming from the Listeman Foundation.
Neillsville Mayor Diane Murphy tells Central Wisconsin Broadcasting News Fabricating Specialists ran into some unforeseen start-up costs.
The initial grant vanquished the city?s Economic Development fund monies, so the $30,000 would have to come from the city?s reserves. Murphy says the Listeman Foundation has agreed to pay back the city.
If approved tonight, the city?s agreement with Fabricating Specialists would be changed to require them to hire 62 workers within three years and keep those workers for five years.
The original agreement required them to hire 50 workers in two years.
The meeting is at 7 p.m. at City Hall.
Feel free to contact us with questions and/or comments.