Recovery Zone law helps businesses across Wisconsin - WAOW - Newsline 9, Wausau News, Weather, Sports

Recovery Zone law helps businesses across Wisconsin

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by Bryon Graff

WISCONSIN RAPIDS (WAOW) - Governor Doyle signs a recovery zone bill that allows companies to receive low interest financing.

A soon-to-be built plant in Wisconsin Rapids will provide 600 new jobs.

This is a prime example of what Senate Bill 440 set out to do. It allows a company like Energy Composites to receive low interest financing on a $45 million dollar project.

Senator Julie Lassa: There was so much work that went into this. It's such a worthwhile project. We're going to be creating 600 good-paying new jobs.

Jamie Mancl/Energy Composites President: I'll tell you with the governor signing this bill today just shows how our state legislators and assembly and governor Doyle have worked together to do something that was nearly impossible at the beginning of this thing.

Lawmakers in our area found opposition in Milwaukee and Madison but ultimately the 238 million dollars pooled together in Wisconsin will be helped by companies like this.

Governor Jim Doyle: The authority for low interest loans would've been dissipated among many different counties. You wouldn't have been able to put together a project like this.

Mancl: There will be 100s to 1000s of new jobs created with $238 million dollars.

Doyle: A lot of counties in central Wisconsin understood that if you have a big, big project here that will help all of central Wisconsin.

This will allow Energy Composites to become a major player in clean energy. And open up 600 jobs.

Online Reporter: Bryon Graff

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