WI: Governor Doyle Announces $500,000 in Energy Funding for 5N Plus Corporation
18 Oct, 2010
Governor Jim Doyle today announced $500,000 in funding for 5N Plus Corporation to invest in their operations and create 17 jobs in the state. The funding comes from the State Energy Program (SEP), which is funded through the American Recovery and Reinvestment Act.
"My top priority has been to help companies and communities move forward and create good-paying jobs for Wisconsin families," Governor Doyle said. "We are moving Wisconsin forward in difficult national economic times by investing in our businesses and making them more efficient and competitive. With this funding, we will be able to help 5N Plus upgrade their leading energy efficiency technologies and create new jobs in De Forest."
5N Plus Corporation will use SEP funds to purchase equipment for its 60,500 square foot manufacturing facility and create 17 new positions in De Forest. The facility will recycle metal coatings used in the production of solar panels. The SEP loan will support its $4,139,000 project. 5N Plus Corporation specializes in the production and purification of elements and compounds, such as cadmium telluride. These elements are used to manufacture many products, such as solar cells, radiation detectors and infrared lenses.
Governor Doyle has led major efforts to help Wisconsin manufacturers improve energy efficiency and invest in clean energy technologies. Wisconsin is the only state directing 100 percent of its state energy funds from the Recovery Act - more than $55 million - to help state manufacturers bring down their costs through energy efficiency and renewable energy projects. Through the State Energy Program, companies like Orion Energy Systems, McCain Foods, TecStar Manufacturing, Helios USA, Nature Tech, ZBB Energy Corporation, Renewegy and Cardinal Glass are already creating thousands of jobs through these investments.
This project builds on Governor Doyle's efforts to position Wisconsin for future growth. Since taking office in 2003, Governor Doyle has worked aggressively to create and retain jobs in Wisconsin. Governor Doyle's budget last year created some of the strongest economic development tools in the nation to help businesses create jobs and get people back to work. Wisconsin now has powerful new tax credits to help manufacturers create and retain jobs, new tools to help investors create start-ups, and new incentives to spur research and development.