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Kenosha County hears loan fund updates as Falcon USA, Centresis and Smurfit projects advance
Summary
An economic development report to the Kenosha County Finance Committee said no loans are currently in default and several loan-funded expansion projects are pending disbursement, including loans to Falcon USA, Centresis and Smurfit West Rock; a 2022 award to Spartan Fasteners is in repayment after missed job targets.
Kenosha County Finance Committee members were briefed on second-quarter revolving loan fund activity and pending disbursements, including loans supporting local manufacturing expansions in Pleasant Prairie and the county business park.
The committee heard that no low-interest loans were in arrears and that two pending loans make up about $1.4 million shown in the report. Brock Portillo, with Kava, said one of those loans will support Falcon USA’s recent expansion in Pleasant Prairie, adding about 15,000 square feet to a…
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