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Governor Doyle Announces Industrial Revenue Bond Allocation in Menomonie
For Immediate Release: September 20, 2007 Project to create 18 jobs MADISON- Governor Jim Doyle today announced $10,000,000 in Industrial Revenue Bond allocations for Fairmount Mineral, Ltd. in Menomonie, Dunn County. "Manufacturing is a big part of who we are in this state, and will pave the way for our future," Governor Doyle said. "One of the top priorities of my administration is to help move industries, companies, and communities forward, and ensure there are enough good, family-supporting jobs for our citizens." Fairmount Mineral, Ltd. was established in 1986 and is a producer of industrial sand. Fairmount Mineral will use the funds to help construct and equip a 50,000-sq.ft. production facility. The project is to create 18 jobs. Total project cost is $16,975,660. Industrial Revenue Bonds are bonds free of federal tax 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. For more information on Commerce programs and services, contact the Commerce area development manager at www.commerce.wi.gov/BD/BD-FAX-0901.html. -30- |
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