DCL gets help for ‘extreme amount of business’
CHARLEVOIX- With all the millionaire shows on the air today, $990,000 might seem like a drop in the hat. But for DCL, Inc. in Charlevoix it’s key to a 24,000 square-foot expansion.
An Industrial Development Revenue Bond from the Michigan Economic Development Corporation (MEDC) will help DCL stretch its quarters and buy new machinery and equipment. The land and facility portion will be owned by Hahn Associates and leased to DCL.
DCL manufactures material handling equipment that evacuates dust for shipment in the cement, fertilizer, chemical, grain and coal industries. “We have several new product lines; they’re all taking off and we need the extra space,” said DCL’s Vice President Werner Egger.
In looking for ways to finance the project, DCL discovered the $990,000 tax-exempt bond through its bank.
“It certainly will eliminate the current problem we have right now, which is congestion due to the extreme amount of business,” Egger explained.
To handle the influx, DCL will hire 10 to 12, bringing the staff to nearly 75. That will definitely be a boost for Charlevoix, too.
“Every time a business grows, every time you hire new employees, obviously it helps the whole economic situation,” Egger said.
The interest on revenue bonds is exempt from federal, state and local taxes. They’re issued to finance projects for manufacturers, solid waste/congestion companies and certain non-profit corporations. BIZNEWS