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KAVA reports fourth-quarter loans that support multiple expansions and job growth
Summary
Brock Portillo of KAVA told the Kenosha County finance committee that Q4 loan activity included disbursements supporting major capital investments (Centresis, Balkan USA, Concept Laboratories, Ermco) and that pending county loans could add dozens of jobs; Portillo cited growing loan activity and an ongoing financial audit.
Brock Portillo of KAVA updated the Kenosha County Finance and Administration Committee on fourth‑quarter loan activity, highlighting loans that back major local expansions.
Portillo said the EDA revolving loan fund received principal and interest, including a 2025 payoff from Kitchen Cubes, and that two new disbursements supported a Centresis expansion and an equipment expansion for Balkan USA. "They expanded their operation by 50,000 square feet," Portillo said of Centresis, and he described the Centresis project as representing "about a $10,000,000 capital investment" and adding roughly 25 jobs. He said Balkan USA's equipment expansion represents "about a $68,000,000 capital investment" and will add about 60 jobs.
Portillo also reported EDA Cares loans totaling $1,600,000 split between two projects, and a pending county revolving loan (not yet announced) that he said will add roughly 12,000 square feet and about 20 jobs to an existing business when it closes. He described efforts to recover $200,000 previously awarded through the high‑impact fund and noted other fourth‑quarter disbursements, including Concept Laboratories (a cosmetic manufacturer occupying a 196,000 square‑foot building) and Ermco Components (a 160,000 square‑foot facility expected to add 200 jobs).
Committee members pressed for job estimates and regional comparisons. Portillo gave rough targets for pending projects (one target around 77 jobs; another about 88) and said the county is well positioned to attract business, citing shovel‑ready sites and several spec buildings. He cautioned that labor and housing availability are ongoing challenges. "Labor, labor force, probably feeds directly into the population, housing," he said.
The committee thanked Portillo for the report; no formal action was taken.
The committee's next steps: officials said they will share details as pending loans close and continue to monitor KAVA's annual audit results.
