The City of Whitewater’s Community Development Authority (CDA) provides grants and loans to qualifying businesses to help them grow.
As the economic development organization for the City of Whitewater, the Community Development Authority (CDA) exists to encourage and assist development in the city that creates jobs, increases the tax base, and improves quality of life in the community. The CDA works to recruit and retain businesses by using a variety of strategies, incentives, and assistance.
The CDA offers three loan programs to help business grow:
The Action Fund Loan program provides financing to businesses for land acquisition, site preparation and
construction, installation of fixed equipment, and working capital.
The Capital Catalyst program incentivizes capital formation and investment in startups and emerging growth
companies. This program focuses on business development, entrepreneurship, and innovation.
The Façade Improvement Program helps businesses primarily located in the central business district with external
building improvements.
John Weidl, Whitewater city manager, stated, “The Community Development Authority (CDA) exists to promote development programs and empower its residents to the benefit of the entire city. The CDA has financing available right now to assist with working capital, facade improvements and incentivizing business development and entrepreneurship. These funds add up to well over a million dollars and are specifically available to encourage community building and economic development from the ground up.”
Blue Line Battery, Inc. (Blue Line) is a success story made possible with assistance from the CDA grant and loan programs. As a US based manufacturer headquartered in Wisconsin, Blue Line specializes in the engineering and manufacturing of advanced industrial Lithium-ion battery systems for the material handling industry.
Blue Line produces advanced Lithium-ion power systems that are a more energy efficient, environmentally friendly, and safer alternative to lead acid batteries. Blue Line has been a tenant at the Whitewater University Innovation Center since November 2016. Over the years, several University of Wisconsin – Whitewater students have worked for Blue Line. Blue Line first received a Capital Catalyst Grant in March 2017. As their business developed, the CDA provided a series of loans to Blue Line which provided capital to grow their business. Those loans have now been repaid in full, allowing the CDA to reinvest those funds in other new or existing businesses here in Whitewater.
“On behalf of Blue Line, thank you to the CDA and the Whitewater community for all of your support,” said Nick Rinaldi, Blue Line Battery, “We as a company continue to hold the CDA and the Whitewater community in high regard for helping Blue Line grow to this point.”
Editor’s note: The above press release was provided by the City of Whitewater. Anyone interested in further information about CDA programs is encouraged to contact John Weidl, jweidl@whitewater-wi.gov or 262-473-0104.
