The City of Plymouth has successfully developed two industrial parks over the past 35 years and both are now fully occupied. The Plymouth Industrial Development Corporation owns more than 160 acres near State Highway 57 and the City of Plymouth has has established a Tax Incremental Financing District for development of this land.
The engineering for sewer and water extensions and for the site planning are in process. Present plans call for call for extending the utilities within the next two years. For information, please contact the Plymouth Industrial Development Corporation, Mel H. Blanke, President, at (920) 892-4451. Additional information about the City’s low interest loan program for business projects can also be provided upon request.
Revolving Loan Fund
The Revolving Loan Fund program provides low interest loans, equity capital, and selected grants for proposed projects that will help business and industry locate, maintain and /or expand existing operations and thereby advance the community’s economic development goals and objectives. The Revolving Loan Fund is intended to provide a financial incentive for business and industry to invest in their own growth potential by providing the necessary leverage money. The Revolving Loan fund money, therefore, is meant to serve as a secondary role to private capital sources in completing the necessary financing for the proposed projects.
Briefly, low interest loans are the mortgage and/or installment type requiring fixed payback at predetermined intervals. These loans will be similar to a traditional bank loan, except the interest rate will be lower than those available at most lending institutions.
Equity capital consists of direct investment by the City into the business, making the City part owner of the business. Payments made to the City are then based solely on the profitability of the business. When financially feasible, the business will acquire the City’s share of the ownership.Grants will be made for the purpose of removing public facility constraints to development. Utility extensions and/or improvements are the most common type of project grants.
The following links will provide you with downloadable .pdf documents, including applications, you may print.