05.02 - BLADC Update - Laserfiche WebLink

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DRAFT' Accomplishments BLADC has had a prosperous year in 2005! Measuring our success is accomplished by tallying the capital investment and job creation for the projects on which we have worked. For this year alone, BLADC has assisted at least: • 22 projects • $9.6 million in capital investment • 89 jobs Since 1988, BLADC has accomplished a minimum of: • 261 projects • $205 million in capital investment • 2,876 jobs Our Mission: To promote, preserve, and actively assist in expanding the economic base of the Brainerd Lakes Area through the creation of new jobs in manufacturing, service, warehousing or processing; within existing industry or by attracting new industry to the area. While each venture has proven to be successful, following is a sampling of key businesses where BLADC has recently played a significant role. Plastics Plus, Brainerd as equipment for a total project of Plastics Plus came to BLADC looking for $880,000. BLADC assisted Crosstech in financing that would compliment that of making application to the Minnesota Northern National Bank, Brainerd. The Community Capital Fund for a $440,000 company is a custom thermoformer of loan. This loan was then sold on the plastics, with their largest customer being secondary market through a federal tax a nationally recognized Company. In order incentive program called, "New Markets to safeguard production, it was necessary Tax Credits,"which provided a very for PP to order a new thermoforming attractive interest rate. As a result of this machine. With BLADC's assistance, project, Crosstech will be adding 3-4 full- Plastics Plus obtained a $100,000 loan time employees in the immediate future from the City of Brainerd's Revolving Loan with potential for more into the future. Fund. As a result, they will increase their level of employment by at least one and ChamberMaster, Baxter feel confident in their ability to serve ChamberMaster designed and developed a clients into the future. web-based software application for management of Chambers of Commerce. Crosstech, Crosslake The product has now been fully developed Crosstech is a metal works design and and proven as a viable and profitable engineering company with 10 full-time product. CM had been financed by the employees. Their primary product, a owners of the company. They approached rotary brush cutter, is a component of BLADC for assistance in identifying sources heavy equipment for a world-wide of financing. In addition to assistance with corporation. Due to increased sales the business planning process, BLADC volume with this company, Crosstech was helped CM obtain a $50,000 SEID loan in need of a 4000 sq. ft. expansion as well from the Initiative Foundation.