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Governor Doyle Announces Industrial Revenue Bond Allocation in Brown County
For Immediate Release: January 7, 2009 Project to create 12 jobs MADISON - Governor Jim Doyle today announced a $1,200,000 Industrial Revenue Bond allocation for The Straubel Paper Company in Ashwaubenon. "It's important we continue to 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 The Straubel Paper Company in Brown County with an expansion project that brings jobs and investment to the area." The project includes the construction of a 30,000-sq.-ft. manufacturing and warehouse addition to the existing 50,000 sq.-ft. production facility in Ashwaubenon. The project also includes the purchase of equipment to allow the company to start converting some of its scrim for its customers. The project will create 12 jobs and represent total investment of $1,570,000. The Straubel Paper Company makes roll stock of scrim, a durable nylon-reinforced paper, and DRC, a very durable non-woven wiper made of wood pulp, binders and a cloth-like material that is absorbent. DRC is cellulose-based and is typically used industrially for water, grease, oil and paint clean-ups. 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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