INFINITI METALS, which provides specially designed trailers and other equipment for commercial and military use, is expanding its operations and expects to create 65 new jobs over the next three years in Clintonville, Wisconsin.
The firm is undergoing a major modernization and expansion that calls for transforming its current facility into a state-of-the-art operation that will enable the company to diversity its product line and increase efficiency. The $1 million project includes upgrades to the facility and the purchase of new equipment.
To help secure the new jobs, the Wisconsin Economic Development Corporation is providing INFINITI METALS with a $367,000 loan from its Business Opportunity Loan Fund, a program that provides assistance to businesses that are a starting a new operation, expanding an existing operation or upgrading their capabilities. Under the terms of the seven-year loan, INFINITI METALS is required to create 65 new jobs by mid-2017 and to retain its existing 46 employees.
“WEDC is pleased to work with INFINITI METALS as this longtime Wisconsin company prepares to modernize and upgrade its facilities,” said Reed Hall, Secretary/CEO of WEDC, the state’s lead economic development organization. “This year alone, WEDC has awarded $9.4 million in Business Opportunity Loans to companies throughout the state. With those loans, those companies are expected to create or retain more than 1,800 jobs.”