Working in concert with the City of Chippewa Falls, Chippewa County and the State Department of Commerce, the Chippewa Falls IDC can offer a variety of incentive packages that make locating in the community even more attractive. Whether you are an existing industry looking to expand, a new industry looking to relocate closer to your suppliers, or a new start-up venture, let us assist you in putting together a package that will work for you.
Industrial Land Sales
The City of Chippewa Falls has developed a variety of industrial sites suitable for nearly any business. Land sales range from $12,000 to $15,000 per acre, and payments are deferred for three years interest free.Revolving Loan Funds
Numerous loan funds are available to provide qualifying new and existing companies with low-interest loans and flexible terms.Tax Increment Financing
Tax Increment Financing is a method which the City can utilize to pool the property tax revenue of all overlying tax districts within a defined area to finance property improvements and promote economic development projects. Tax Increment Financing can be used by the City to provide financial assistance to companies that demonstrate a need for such assistance and meet a number of the City’s stated priorities for the use of Tax Increment Financing Funding. Two of the City’s six active Tax Increment Districts are located in industrial settings.I-94 Technology Zone Tax Credits
Chippewa Falls is part of the I-94 Technology Zone. Created in 2002, the Zone offers technology oriented businesses up to $250,000 in tax credits for projects that involve the acquisition of capital equipment, plant expansion, new employment, or general business expansion. For additional information check out the Department of Commerce I-94 Technology Zone Fact Sheet.http://www.commerce.state.wi.us/CD/CD-bed-TZ-I-94%20Corridor.pdf
The Chippewa Valley Angel Investors Network, LLC
The Chippewa Valley Angel Investors Network, LLC is a group of accredited investors interested in making equity commitments to early-stage, high-growth potential companies interested in locating in the Chippewa Valley.
The WI Department of Commerce also has a variety of programs tailored to promote economic development in Wisconsin. The IDC Staff is prepared to work with new and existing industries to access the following programs.
The Community Development Block Grant (CDBG-ED) Economic Development Program, provides grants to communities to loan to businesses for start-up, retention, and expansion projects based on the number of jobs created or retained.
The Customized Labor Training (CLT) Fund provides training grants to businesses that are implementing new technology or production processes. The program can provide up to 50 percent of the cost of customized training.
The goal of the Economic Impact Loan (EIL) Program is to help Wisconsin businesses that have been negatively impacted by Gaming. Recognizing that qualified businesses may have difficulty accessing capital, the EIL program is designed to cover a portion of the cost associated with modernizing and/or improving the businesses operations.
The Enterprise Development Zone (EDZ) Program provides site specific tax incentives to new or expanding businesses whose projects will affect distressed areas.
Industrial Revenue Bonds (IRB) are municipal bonds whose proceeds are loaned to private persons or to businesses to finance capital investment projects. All Wisconsin municipalities, cities, villages, and town are authorized to issue IRB's.
Major Economic Development (MED) Program is designed to assist businesses that will invest private funds and create jobs as they expand in or relocate to Wisconsin.
The Rural Economic Development (RED) Program is designed to provide working capital or fixed asset financing for businesses with fewer that 50 employees.
The Technology Development Fund (TDF) program helps Wisconsin businesses research and develop technological innovations that have the potential to provide significant economic benefit to the state.
The Technology Development Loan (TDL) program helps Wisconsin businesses develop technological innovations that have the potential to provide significant economic benefit to the state. This program is designed to help businesses commercialize new technology.