Mon, Feb 21, 2011
Hi-Tech Jobs For WI -- Racine Invests In Building A Promising
Business
The Racine City Council on Wednesday approved a $1.2 million
low-interest loan for DeltaHawk Engines, Inc., which plans to
manufacture a family of 2-12 cylinder engines for the general
aviation industry. The two-percent loan will be provided in
$400,000 increments over three years, and is tied to facility
improvements on DeltaHawk's future manufacturing plant in Racine.
The Racine Redevelopment Authority unanimously approved the loan
last Thursday, paving the way for the Council vote this past
week.
"We're excited that the City of Racine has taken the initiative
to help us grow our operation and create new jobs in the
community," said Dennis Webb, President of DeltaHawk Engines,
Inc.
After several years of research and advanced development, Delta
Hawk is excited about the next chapter in their development as a
company.
"The financial support of the City of Racine, Racine County,
Racine County Economic Development Corporation and the State of
Wisconsin puts us on the path to be a global leader in the
development and manufacturing of diesel engines for the aviation
industry," said Webb.
This announcement comes on the heels of the State of Wisconsin's
announcement last week that it is also making an investment in the
company through the Wisconsin Department of Commerce by providing a
$720,000 low-interest loan. As it expands operations and ramps up
manufacturing, DeltaHawk expects to create more than 100 jobs over
the next three years.
Founded in 1996, DeltaHawk Engines, Inc. is a manufacturer of
innovative, lightweight, fuel-efficient engines for the commercial
and general aviation industry.
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