1996 Successes

1996 SUCCESSES

Strandwood Molding - Assisted this start-up company to raise $3 million to commercialize a wood pressing technology developed at Michigan Tech. Strandwood will manufacture office seating and furniture components for a national market. The company is building a new manufacturing plant in Franklin Township that will employ 33 people.

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Best Western Franklin Square Inn - Assisted this hotel facility to obtain $100,000 as part of a larger financing package to add on additional rooms and a conference facility that is much needed by the local tourism industry. The conference facility will draw in major conferences and meetings that will benefit many other local businesses. 20 new jobs will be created.

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ThermoAnalytics, Inc. - Assisted this new software company to obtain public and private financing to commercialize thermal modeling software products for the automobile industry and thermal analysis for the military community. The company has leased a long vacant building in the Houghton County Airpark, creating 13 new high paying jobs.

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Nitrate Elimination Co., Inc. - Assisting this new high-tech, emerging company to arrange financing to commercialize nitrate detection and elimination products The Council helped the company arrange bank and county RLF loans. 5 new jobs will be created.

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Michigan House Restaurant - Assisted the new owners of the Michigan House to write a comprehensive business plan, obtain a liquor license and raise $250,000 of financing in order to renovate and reopen this historic facility in August 1996. It offers Calumet and vicinity a full service, high quality restaurant. 10 new jobs have been created.

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Manufacturersí Continuous Improvement Network - Working in partnership with Northern Initiatives, the Council has helped establish a network of local manufacturing companies to cut costs, increase production, strengthen operations and become more competitive.

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Renaissance Zone - The Council together with Houghton County took the lead in obtaining a tax-free renaissance zone in which most state and local taxes will be abated for 15 years. The KIC will be the lead agency in marketing the zone and attracting new businesses to the area.

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Keweenaw Revolving Loan Fund - The Council has already obtained one grant and is applying for another to create a $100,000 small business revolving loan fund in Keweenaw and Houghton Counties. Such funds have been a powerful job creating tool in rural areas.

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For more information - Email to: Phil Musser pmusser@mail.portup.com

Created by Bill Campbell (bill@nitrate.com)

Last Updated: 12 March 1997