Business Incubators
The City of Two Rivers owns two business incubators. These business incubators can assist businesses looking to start up, expand, or relocate to our community. The incubator offers affordable, yet negotiable, space for lease for industrial businesses. The City of Two Rivers offers low interest loans, starting at 3% up to prime rate. For every full time job created, the city loans $20,000 - provided the business invests $40,000 per full-time job. Tax incremental district (TID) is also available for larger projects. Let the City of Two Rivers lend a hand in your business' beginning.
1421 Wentker Court, Two Rivers
4,992 Square Foot Incubator on .55 acres. Built in 1990, this building has office space and an employee break room or office in the manufacturing area. Lease terms up to five years with a commitment to build in our industrial park. Initial lease rates for the entire building of 16-cents per square foot per month (dependent upon number of jobs created and type of business). 50% credit for lease payments may be applied to the purchase of industrial park property.
1429 Wentker Court, Two Rivers
The 19,200 square foot incubator facility was originally constructed in 1974 on 2 acres. It has 3,000 square foot of office, 16,200 square foot of manufacturing space, 2 loading docks, 800 AMP,3 phase electrical service,1 overhead door, 20-foot sidewalls, 7 minutes from Interstate 43, parking for about 50 cars. $2,880 initial monthly lease ($.15 per square foot per month), tenant pays utilities. 50% of rent paid is credited towards the purchase of Two Rivers industrial park property.
Business Incubators Success Updates
And while not every tenant of the incubators has been a success, or decided to stay in Two Rivers, there have been several great local business success stories at our incubator in the past few years. They include:
Woodland Face Veneers
Woodland Face Veneers, which got its start in the larger incubator in 2002. Company President Rick Philipps has guided the company through phenomenal growth, with an emphasis on customer satisfaction and employee involvement. WFV moved to larger quarters on Columbus Street in 2005. Today, Woodland Face Veneers employs 45 people. Rick Philipps reports annual sales growth consistently in the range of 20 percent.
Visit Woodland Face Veneers Website
Manitowoc Relay and Protector
Manitowoc Relay and Protector, which began operation in the small incubator building in September 2005. The first North American manufacturing operation for Electrica, s.r.l. of Milan, Italy, this company produces electromechanical relays used for starting compressors in refrigeration and HVAC equipment, as well as other applications. After just 18 months, the company grew out of the incubator, and purchased a 10,000 SF building in the City's Woodland Industrial Park. According to plant manager Andre Lafond, the company employs 18 people today, and continues to expand its production for Electrica's North American customers.
Visit Manitowoc Relay and Protector Website
GT Machine
GT Machine, which moved into the 20,0000 SF incubator in 2006, with 14 employees. Partners Tom Jachimstahl and Gary Messman have overseen significant growth in their business, performing custom machining work for area companies like Manitowoc Crane and Formrite Tube. Assisted with a City loan of $200,000, the company invested $600,000 in new machinery and equipment in late 2007. Today, GT Machine has 38 employees.
