Racine County, Wisconsin – A new Revolving Loan Fund (RLF) program was capitalized by Racine County to support local companies impacted by the Foxconn development in Mount Pleasant, Wisconsin. The new program is referred to as the Greater Racine County RLF.
With the significant increase in Racine County’s construction activity as a result of Foxconn, companies have a funding tool to support their Foxconn-related expansion plans. The new RLF offers flexible financing so businesses can hire additional employees, offset operating costs, and invest in new assets to increase revenues.
“On behalf of Racine County, I am happy this RLF program supported the growth of Valme North America,” said Jonathan Delagrave, Racine County Executive.
“This loan will allow them to purchase cutting and welding equipment to meet the influx of construction projects due to the Foxconn development.”
Recently, Valme North America took advantage of this new RLF program to purchase equipment. The Valme Group was founded in Italy in 1985, and in 2019 it established the new Valme North America branch in Raymond. Valme North America manufactures standard and double layer pipes that play a major role in concrete distribution and building manufacturing. With the significant growth of construction projects in Racine County, Valme North America invested in equipment, which allows them to produce complete pipe systems in Racine County.
Valme reaches about 20% of North American sales for these types of products, and continues to increase production to meet demand.
“I would say that when it comes to financing a business expansion project, your first call should be to RCEDC,” said Eric Zimmermann, Vice President of Valme North America. “They will not only take the time to understand your needs but will also help find and secure the best available financial resources.”
For businesses and lenders interested in learning more about Business Lending Partners’ Greater Racine County RLF program and how to apply, contact BLP’s Loan Officer Wesley Walsh at (262) 898-7436 or wesley@blp504.org.
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