Washington County could provide a $500,000, low-interest loan to Nova-Kem LLC, which bought a building in Germantown this month and plans to create a laboratory for chemical research.
Nova-Kem plans a $6.8 million project to renovate the former Cambridge Major Laboratories Inc.? building in Germantown and create up to 48 high-paying jobs within three years. The company, based in Seward, Ill., is a spinoff from ProChem Inc. that will develop a new chemical product for the semiconductor industry as well as perform R&D work for other chemical companies.
The Washington County Board on Tuesday approved negotiations for a $500,000 loan from the Attraction Program Fund to support the project. The loan deal will be finalized after company and county officials negotiate the details, said Christian Tscheschlok, executive director of Economic Development/Washington County. It is the first use of the county program, which was created a year ago, he said.
?We haven?t had the right fit for a project to put it to use, and this project really fit to the T,? Tscheschlok said.
The Nova-Kem building is at N115 W19392 Edison Drive.
Sean Ryan reports on real estate, construction and public transit in southeast Wisconsin
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