Efforts underway to keep Crenlo in Rochester
I'm katie lange a long?
"*time med city manufacturer is working with the city of rochester and the state to remain local after considering moving its production facilities to iowa and north carolina.
Kimt new three's jessica bringe joins us live from crenlo engineered cabs with what's being done to keep the manufacturer in the med city.
"* crenlo has been aroud for nearly 70?
"* years but recently the company told city staff it may consider leaving the med?
To prevent tht from happening..
The city has been working with rochester area economic development inc.
To find a solution.
Raedi, the city and the state have been working out a package of 750?
*- thousand dollars in forgivable loans to crenlo.
"*thousand dollars of that would come from the state's minnesota investment fund..
"* thousand dollars would come from the city's economic development fund.
Raedi interim president john wade says crenlo is a valuable asset to rochester as the company provides around 20?
"* million dollars in payroll to employees..
And a large chunk of that money goes right back into the local economy <when you take 20 plus million dollars in annual payroll, remember where that money goes; it goes into our stores, people pay taxes, they support our school system, it is an entire ecosystem unto itself.
We're grateful to have them and we're grateful to have them make this commitment to stay in our community.> the $300,000 and the formal application for the $450,000 will still need to be approved by the rochester city council.
That's expected to be discussed during monday's city council meeting.
Live in rochester jessica bringe kimt news three.
Rochester public utilities is willing to provide 500?
"* thousand dollars in utility rate incentives that would increase the value of the package offered