Bond funding available for Sheboygan County projects

Local investors and business leaders should be aware of several programs currently available in Sheboygan County, offering low-cost financing opportunities for corporate projects.

The Midwestern Disaster Area Bond Program was established in 2009 by the federal government. Its goal is to stimulate economic activity in areas that were affected by widespread flooding in 2008 and declared as federal disaster areas. The flooding impacted most counties in southern Wisconsin, including Sheboygan County.

According to Sheboygan County Economic Development Corporation’s Executive Director Patrick Drinan, the Midwestern Disaster Area Bond Program provides another available option for low-cost financing of significant development projects, which could result in job creation.

“This financing program is intended to help stimulate new projects throughout Sheboygan County,” says Drinan. “The program has been in existence for almost one year, and the SCEDC wants to make sure local businesses understand and take advantage of these programs as they prepare expansion plans.”

The Midwestern Disaster Area Bonds are private activity tax-exempt bonds which can be issued by municipalities or counties on behalf of a private borrower. Proceeds can be used to finance the cost of acquisition, construction, reconstruction or renovation of nonresidential real property — including fixed improvements associated with such property — but not equipment and movable fixtures.

Eligible projects may include manufacturing facilities, retail businesses, restaurants, office and commercial development, medical facilities, agricultural facilities or warehouse and distribution facilities. Proceeds of the bonds may also be used to finance qualified residential rental housing. Bonds cannot be used to refinance existing debt. The SCEDC staff can provide additional detailed information regarding these programs.

In addition to the Midwestern Disaster Area Bond Program, several municipalities offer local Revolving Loan Fund (RLF) programs to support business development and job creation. The cities of Sheboygan and Plymouth each administer a local RLF program, while Sheboygan County offers a RLF program that covers the entire county (excluding the city of Sheboygan). Please visit the SCEDC website for additional information regarding these and other business-financing resources.

First cohort graduates from Wisconsin Family Business Forum certificate program

Since 1996, the Wisconsin Family Business Forum at UW- Oshkosh has been worked with hundreds of families and their businesses. The forum now includes a Family Business Education (FBE) Certificate Program, the first of its kind in the state and possibly the country.

In May 2010, the forum graduated the first class representing family businesses from throughout the New North, Illinois and Kansas, as well as family business professionals who sought to better understand the dynamics of family business.  Although the majority of participants were next generation family members, the class was enhanced by the enrollment of senior leaders as well as family business professionals.�

MOVERS

>> Mike Jansen has been named vice president, finance, and CFO of SCA Tissue North America. Joe Fahley has been named vice president of Financial Shared Services for SCA’s North American Operations. Both Jansen and Fahley are based out of Neenah.

>> Appleton-based Integrity Insurance has named Joseph F. DiMartino Jr. as company president.

>> BrightStar has hired Theresa A. Froehlich as director of nursing for the Appleton-based company.

>> Menasha Packaging has promoted Dan Murton to the newly created position of RII director, Lean Solutions.

>> Faith Technologies has added Charlie Fredrickson in the newly created role of director of Pre-construction Services.

>> Coalesce, Inc., a strategic marketing and communications agency based in Appleton, has promoted Jessica Faris to account coordinator.

BUSINESS BRIEFS

NEENAH: TIDI Products LLC, a manufacturer of single-use personal protection and patient care infection prevention products, has acquired Timely Medical Innovations LLC of Carlsbad, Calif. Timely Medical Innovations manufactures and sells a proprietary line of disposable optical-grade, eye and facial protection products for medical markets.