The project involves funding working capital and tenant improvements for Jonco industries related to its expansion into the former Eaton building located in a highly distressed community in the 30th street corridor of Milwaukee’s Northwest side. This area has recently seen the loss of roughly 300 jobs when a primary employer (Eaton) left its location on 27th street to occupy new headquarters on the other side of the City. The number of employees that will still work for the Company from this location is unknown at this time. However, what is known is that the loss of this company had a serious impact on the community as a whole. Jonco Industries has developed a plan to retro-t 7 floors of the property so that it will accommodate its needs and support the tenancy of Northwest-side CDC, Milwaukee Social Development Commission and two floors designed as manufacturing company incubator space.
The NMTC helped the Westervelt Company to build a new wood pellet manufacturing facility in Aliceville, Ala.