MCL Industries in Pulaski, Wis., will receive an Industrial Revenue Bond allocation totaling $1.12 million from the state of Wisconsin for an expansion project. This project will create 60 jobs.
MCL manufactures electrical equipment for heavy-duty on/off road vehicles and heavy-duty equipment manufacturers. It is constructing a 22,000 square foot addition onto the existing MCL facility in Pulaski, as more space is needed for production.
Industrial Revenue Bonds are bonds free of federal tax issued by local governments, and the proceeds are loaned to new or expanding businesses for development projects. The interest rate is generally below the going prime rate.
