Schutt Industries in Clintonville, Wis., will receive a $250,000 Community Development Block Grant-Economic Development (CDBG-ED) loan from the Department of Commerce to purchase equipment relating to their plant expansion project.
In order to comply with two recently secured military contracts that could be worth up to $100 million, the company will need approximately 20,000 square feet of additional manufacturing space. The project will create 65 jobs, which will more than double its current work force of 33 employees, and represents a total capital investment of over $2 million.
Schutt Industries, which produces high performance military and heavy-duty commercial trailers and trailer components, was founded in 1998.
"Being a military contractor, the funding that Commerce is providing us is used for state-of-the-art equipment to help accomplish our mission of providing more modern, technically-advanced, high-quality products to our armed forces to enhance their mobility and keep them out of harms' way," said Jim Schutt, president of Schutt Industries.
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.
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