Thursday, January 22, 1998
Governor John Engler announced today that the City of Norway will receive a $300,000 loan from the state. The loan will be used for construction of infrastructure improvements of an existing building. A credit of $10,000 per job created can be used to repay up to 50 percent of the project amount. The renovations will enable Kiser-Johnson & Company to expand their operation and move from Wisconsin to Michigan. The improvements will include the addition of overhead cranes, construction of new entrances suitable for use by heavy equipment, and modification of existing floors to accommodate heavy equipment. The City of Norway anticipates that the project will create approximately 30 new jobs. "I am pleased that the Jobs Commission is able to provide support to the City of Norway to make these improvements which will result in the relocation of Kiser-Johnson & Company and provide more job opportunities for residents of the area," Engler said.Funding for this loan comes from the Michigan Renaissance Fund. The Renaissance Fund makes loans to communities to finance land acquisition, rehabilitation costs, and infrastructure or public facility costs associated with a prospective business and industrial park or other project that readies a community for development. The Michigan Jobs Commission, which administers the Michigan Renaissance Fund, works in partnership with local communities and Michigan businesses to retain and expand job opportunities and improve Michigan's overall business climate.