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St. Croix Valley Business Innovation Center receives $50,000

Representatives of the St. Croix Valley Business Innovation Center recently met with WESTconsin Credit Union staff to accept a $50,000 donation from the credit union. Photo courtesy of City of River Falls

Representatives of the St. Croix Valley Business Innovation Center recently met with WESTconsin Credit Union staff to accept a $50,000 donation from the credit union. The contribution takes place across a five-year schedule, and provides naming rights to the WESTconsin Credit Union Reception Area. This is the Center's first official sponsorship. Main project partners include the City of River Falls, River Falls Economic Development Corporation, University of Wisconsin-River Falls, and Chippewa Valley Technical College.

Dave Maves, Chairperson of WESTconsin's Board of Directors, commented, "As a Board, we had unanimous support of this project due to the regional impact it will have on the communities and members we serve."

"We appreciate your foresight and interest in this capital process," Scot Simpson, City Administrator, stated. "You were a catalyst for the effort and now you are the first to secure a commitment."

With $3,953,550 in construction costs, the Center's building and footprint is taking form. It is located on 3.7 acres in Sterling Ponds Corporate Park. Services will include business development, coaching and mentoring, financial advisory, market development assistance, as well as convenient access to partner resources.

Other key features:

• 13,000 square feet for general manufacturing

• 18,000 square feet for offices and common areas

• $1.4 Million granted from the U.S. Economic Development Administration

• $250,000 granted from the Wisconsin EDC

• January 1, 2018 expected completion date

• 25 tenants anticipated

More information about the St. Croix Valley Business Innovation Center, including staff contact information, is available at www.stcroixinnovation.org.

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