Update: The city has announced this deal is off. The business owner withdrew and will attempt to locate elsewhere. Reading between the lines, the owner seemed frustrated with the questions from the city council.
- “Confidential” California-based manufacturer in the “renewable energy” field
- Over $3 million in grants already approved
- Madison will construct the building on 6 acres using the new industrial park and then lease it back to said company
- Potential of 200 jobs paying $16 per hour
- Further action will be taken next Tuesday 22 May at the city council
Obviously, there are many questions to ask about this proposal and the video above only gives broad details of the potential deal. At first listen, it sounds like all the investment is coming from local sources. But the prospect of new jobs is something every small city is desperately seeking.