Local News

9-25-14 fdl county board approves using sales tax revenue for fcedc revolving loan fund

todaySeptember 24, 2014

The Fond du Lac County Board has approved using sales tax revenue for local economic development.  After meeting in closed session this week the board voted in favor of appropriating $50,000 in county sales tax revenue to the Fond du Lac County Economic Development Corporation Revolving Loan Fund.  County executive Al Buechel says since the sales tax was passed the county has put more than $2.3 million in the loan fund.  Buechel says the revolving loan fund has been responsible for creating 615 new jobs, retaining 234 jobs and almost $85 million in investment in the county. “This is a gap loan, this is financing that businesses need some additional financing to complete the deal,”  Buechel told WFDL news.  “We’re not competing with the banks, we’re supplementing what the banks are able to do.”  Buechel says in the end it creates investment in the facilities and creates jobs.

Written by: Radio Plus

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