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Governor Doyle Announces Industrial Revenue Bond Allocation in Milwaukee
For Immediate Release: August 14, 2008 Project to create 15 jobs MADISON - Governor Jim Doyle today announced a $6,500,000 Industrial Revenue Bond allocation for Lauterbach Group, Inc., Sussex, Waukesha County, to help finance a new 61,000 square foot production facility in Sussex. The company will also receive up to $25,000 in Customized Labor Training grant to train 12 new and 28 existing employees on new equipment and processes. "One of the top priorities of my administration is to help move industries, companies, and communities forward, and ensure there are good, family-supporting jobs for our citizens," Governor Doyle said. "I am pleased to help Lauterbach Group, Inc. with an expansion project that brings jobs and investment to the area." Lauterbach Group, Inc. is a flexographic printing company that provides solution-based printing, packaging, and converting products. The project will create 15 jobs and represent total investment of $9,550,000. 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 http://commerce.wi.gov/BD/BD-AreaDevManagers.html. -30- |
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