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McDevco reports $657,000 disbursed in loans this year; incubator occupancy rises to about 82%
Summary
McDevco told the committee it has dispersed roughly $657,000 in loans year-to-date, manages multiple revolving loan funds including a $1 million Marathon County allocation nearing depletion, and reports Wausau Business Incubator occupancy at about 82 percent.
McDevco, the county’s economic development partner, reported to the committee that it has dispersed approximately $657,000 in loans year‑to‑date through varied revolving loan funds it administers on behalf of Marathon County, the Judas Alexander Foundation and other partners.
A McDevco representative said loan sizes range from about $20,000 to $250,000 with an average around $25,000, and that most recent applicants are bank referrals. The organization noted it is nearing depletion of the Marathon County $1 million contribution to a revolving loan fund that was established with the Judas Alexander Foundation and said funds remain to support businesses outside the city of Wausau.
McDevco also reported operational metrics for the Wausau Business Incubator: overall occupancy at about 82 percent, manufacturing suites fully occupied and rapid leasing of office space. The representative said the incubator has adapted by converting some office space to light manufacturing suites and that demand for commercial incubator kitchen space remains high.
McDevco highlighted other programs it administers, including a private on‑site wastewater treatment system fund (used for about 15 system repairs to date) and various workforce and technical assistance offerings. The representative asked supervisors to refer businesses and entrepreneurs to McDevco for assistance.
No formal committee vote was required for the report; members asked questions about tenant tenure and graduation from the incubator. Committee members said the incubator aims for a typical tenure goal of about five years, with active board oversight on tenant transitions to promote community-based business growth.
