Actions from a state meeting this week provided a major boost to a company hoping to use the former Printpak building in Rhinelander.
The Board of Commissioners of Public Lands has approved a $15 million dollar State Trust Fund Loan to finance the eventual move of Rhinelander Coated Products...a division of Expera Specialty Solutions ..into the former Printpak building on Kemp Street.
The complicated deal uses Northeast Wisconsin Economic Development Corporation to purchase and renovate of the vacant Printpack building and purchase needed capital equipment.
The money passes through Oneida County to the development corporation. The Oneida County board approved the pass through at it's September meeting.
When open, the facility is expected to generate about 20 jobs. Expera has six years to pay back the loan.
The Board of Commissioners of Public Lands operates without taxpayer money, but funds economic development projects from it's own revenues. The fund also provides funding for Wisconsin public school libraries.
