Wilcox Steel, LLC, of Green Bay will receive a $500,000 Community Development Block Grant-Economic Development (CDBG-ED) loan from the Department of Commerce to help them reopen the former Fort Howard Steel plant.

The project will create 58 jobs over the next three years and represents a total capital investment of $8.2 million.

"Successfully bringing a company back from being shutdown is a near impossible task, and is only possible by going above and beyond, and with the help such as we have received through Governor Doyle and the state of Wisconsin," said Ron Anderson, president of Wilcox Steel, LLC. "These economic development programs, combined with the return of previous Fort Howard Steel employees, form the foundation for a long-term successful enterprise."

The Fort Howard Steel plant operated from 1936 to 2005. Wilcox Steel, LLC, will produce cold-finished steel bars of various sizes at this plant.

The CDBG-ED program awards loans to businesses that seek to expand in or relocate to Wisconsin. Businesses interested in the CDBG-ED program should contact the Commerce Area Development Manager in their region. Contact information can be found at www.commerce.wi.gov/MT/MT-FAX-0901.html.