News Column

BRIEF: State loans $1M to Riverside

May 14, 2014

The Leader-Telegram, Eau Claire, Wis.



May 14--An expanding high-tech machine shop is getting a $1 million loan from the Wisconsin Economic Development Corporation for a move to Eau Claire that's expected to create 20 new jobs.

Riverside Machine & Engineering is planning a $5.7 million expansion as it moves this summer from its Chippewa Falls facility into a building in Eau Claire that had been occupied by Hutchinson Technology.

"We're pleased this family-owned business has decided to stay and grow in western Wisconsin," Gov. Scott Walker said Tuesday in a news release.

The state's loan is contingent upon Riverside creating 20 new jobs in the next three years and retaining its current 71 positions until at least 2019.

In February, the Eau Claire City Council approved a $33,000 job creation loan to Riverside.

The 150,000-square-foot building Riverside is moving into had housed an HTI product manufacturing division that was moved several years ago to Thailand. It is the oldest building in HTI's complex, which is located on Alpine Road, just off the North Crossing on Eau Claire's west side.

___

(c)2014 the Leader-Telegram (Eau Claire, Wis.)

Visit the Leader-Telegram (Eau Claire, Wis.) at www.leadertelegram.com

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Leader-Telegram (Eau Claire, WI)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters