Signals Focus -- May 31, 2006

Brenner Tank Recipient of CDZ Tax Credits

Governor Jim Doyle last week announced that Brenner Tank in Fond du Lac will receive $310,000 in Community Development Zone (CDZ) tax credits from the Department of Commerce for a project that will retain 223 jobs and create an additional 75 jobs. Lt. Governor Barbara Lawton made the announcement on behalf of the Governor at a news conference at Brenner Tank.

The Community Development Zone program offers tax credits for creating new, full-time jobs, hiring  disadvantaged workers and undertaking environmental remediation.  Tax credits can be taken only on income generated by business activity in the zone.  More information about the CDZ program is available at the Wisconsin Department of Commerce website at http://commerce.wi.gov/CD/CD-bed-devz.html.

More information about incentives available to area business can be found on the FCEDC website at http://www.fcedc.com/incentives.html.

Alliance Aquires Belgian Company

Alliance Laundry Systems LLC has announced the signing of purchase agreements to acquire substantially all of Laundry System Group NV’s (LSG) Commercial Laundry Division for approximately 59 million Euros.  Alliance Laundry is headquartered in Ripon and is an indirect subsidiary of ALH Holding Inc., a Teachers’ Private Capital portfolio company.

LSG’s Commercial Laundry Division (CLD) is headquartered in Wevelgem, Belgium. They market commercial washer-extractors, tumbler dryers, and ironers worldwide under the Ipso and Cissell brand names. CLD has manufacturing facilities and sales offices in the United States and Belgium.

Tom L’Esperance, Alliance Laundry’s President and CEO stated, “The addition of the Ipso and Cissell brands and CLD’s soft-mount washer-extractor product line significantly strengthens our ability to participate in the global laundry marketplace.”

Completion of the transaction, which is expected to close in the third quarter of 2006, is subject to further due diligence and customary closing conditions.

Hicks-Sorensen assists Economic Development in Gulf Coast Region

Most of us utilize our vacation time from work to relax, kick back and if we’re lucky, enjoy the virtues of a resort community. Brenda Hicks-Sorensen, Interim President of FCEDC, chose to spend her vacation time a little differently.

Hicks-Sorensen was chosen to be part of the International Economic Development Council’s (IEDC) Economic Recovery Volunteer Program. The program, funded by a grant from the Economic Development Administration, deploys economic development professionals to key regions of the hurricane impact zone. The objective of the program is to increase the post-disaster survival rate of small- and medium-size businesses and assist with long-term economic recovery.

Hicks-Sorensen spent one week in Bay St. Louis (Hancock County), Mississippi. Here are just a few of her thoughts she wrote on the day of her arrival:

“I am sitting in the trailer of the Hancock County Chamber of Commerce/Business Assistance Center and cannot believe the sites I have seen today,” reflected Hicks-Sorensen. “I can't believe the scenes I saw in New Orleans -- cars still in the canals, entire neighborhoods wiped out. I thought I was past the worst of it as I traveled along Hwy 90 into Bay St. Louis. Actually, as I was coming upon Waveland, there were scenes much like it was after the water receded. I also received a brief tour of old Bay St. Louis. Where once shops were on both sides of Main Street with the coast just beyond, there is now no Main Street for miles.”

Watch for a full story about Hicks-Sorensen’s experiences in Hancock County in the July edition of our Signals newsletter.

The mission of Fond du Lac County Economic Development Corporation, a county-wide private/public partnership, is to improve the economic well being of the businesses, communities, and residents of the county via business attraction activities, existing business development, entrepreneurial services, community preparedness and consultation and workforce development.