Aircraft company plans to add 600 jobs in Superior, Wisconin.

SUPERIOR – Gov. Scott Walker today announced that Kestrel Aircraft Corporation will establish its manufacturing and headquarters in Superior, creating up to 600 new jobs.

“I am pleased with the aggressive package we have put forth in conjunction with strong local support to make this major job creation contribution to Superior,” said Walker. “This relocation will be a huge boost to the Superior-area economy.”

Two state agencies, the Wisconsin Economic Development Corporation and the Wisconsin Housing and Economic Develop Authority, partnered with local officials to bring Kestrell’s expansion to Superior.

“This combined effort by Wisconsin Economic Development Corporation, Wisconsin Housing Economic Development Authority, the city and county shows how serious we are about Wisconsin’s commitment to supporting business development and the creation of good paying jobs,” said Paul Jadin, CEO of the WEDC.

WEDC will create an Enterprise Zone in Superior to provide $18 million in tax credits to Kestrel Aircraft Corporation. WEDC will provide a $2 million loan and is working with WHEDA to secure a $2 million State Small Business Credit Initiative program loan. The repayment of the WEDC loan and eligibility of tax credits are based on the capital investment, worker training and job creation by the company.

WHEDA has committed to work with Kestrel to obtain a $30 million allocation of New Markets Tax Credits NMTC for the Superior project. NMTC is a U.S. Department of the Treasury program that assists businesses that locate and grow in qualified low-income areas.

“I am pleased that WHEDA is partnering with local officials and WEDC to use our new economic development tools including SSBCI,” said Wyman Winston, WHEDA executive director. “It is a testament to the people of Superior that Kestrel Aircraft is committed to build the next generation of commercial aircraft utilizing the know-how and talent available in the state of Wisconsin.”

According to the Superior Telegram, on Jan. 10, the Douglas County Land and Development Committee unanimously voted to recommend the transfer of 13.3 acres of land near the Richard I. Bong Memorial Airport to the Superior Redevelopment Authority to help Kestrel establish operations in the city. The Douglas County Board will weigh in on the proposed $500,000 deal this Thursday.

Kestrel reportedly wants the site to accommodate a 50,000 sq. ft. assembly plant. If the start-up airplane company’s prospective development plan is realized, the plant would be the second of two facilities to be built in Superior.

Kestrel’s first facility would be a 35,000 sq. ft. manufacturing plant in the Winter Street Industrial Park. That plant could be operational by the end of this year.

Kestrel is headed by Alan Klapmeier, co-founder and former CEO of Cirrus Aircraft, based in Duluth.

Source:  http://www.rivertowns.net