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CITY SOUTH i <br />TANGIBLE <br />1. Describe the proposed project, including information about the new <br />manufacturing equipment personal property (Aequipment @) to be installed, the <br />amount of land to be used, if any, the proposed use of the equipment, and a <br />general statement as to the value of the project to your business. <br />In April., Hoosier 'lank purchased the assets (machinery, tooling, <br />intellectual property) of their competitor, Quest Manufacturing. This <br />increased the customer base and select equipment has been ut in service <br />owder <br />t <br />nosier <br />c <br />Tank a superior coating that will open opportunities in new markets. <br />2. The project will create 6 -10 new, permanent jobs within the first year, <br />representing a new annual payroll of $ (pnd will maintain <br />52 existing permanent full -tithe and 0 existing part -ulnae jobs <br />representing an annual payroll of $ 1,800,000 . The projected annual salaries <br />for each new position created are estimated to be as follows: <br />3. Estimate the total cost of the Equipment: $950,000 <br />4. (a) The Equipment is owned or to be owned by the following individuals or <br />corporations (if the business organization is publicly= held, indicate also the <br />name of the corporate parent, if any, and the name under which the <br />corporation has filed with the Securities and Exchange Commission): <br />NAME ADDRESS INTEREST <br />Hoosier `lank 1710 No. Sheridan South Bend IN <br />Thomas Kinnucan Jr 51930 Juniper Rd South Bend, Ili 50% <br />William Welsch 23750 Davis Lake St Edwardsburg, MI 50% <br />(Revised 812102) <br />