BUSINESS DEVELOPMENT & PLANNING

Portage is a progressive and business-friendly community that, coupled with its natural beauty, easy access to outdoor and recreational activities and quality of life amenities, is attracting new businesses and manufacturers to our community. Portage was recently named one of 50 national semi-finalists in the Frontier America's Best Communities Award program based on its economic development plans and programs.

Portage offers a geographic advantage over other communities, with the community located on I-39, I-90-94, and State Highways 51, 33, and 16.

The City of Portage offers an Economic Development Revolving Loan Fund program and a new Building Facade Revolving Loan program to help businesses meet their financing and capital needs.

To assist start-ups and entrepreneurs, the City of Portage has joined with the Columbia County Economic Development Corp in forming the new Innovations Champions group.

The Portage Industrial park has several sites available on rail (Canadian Pacific Rail).

The Portage Enterprise Center -- a business assistance center, incubator, and accelerator located in the Portage Industrial Park -- offers a variety of workforce training and development programs at the Madison Area Technical College/Advanced Manufacturing Training Center satellite campus located on site. Manufacturing and other workforce training can be custom made with potential grant funding available. The Center was sited in a March 6, 2015 Huffington Post article as one of the top eight business innovations in the country. For more information, see below.

Nerd Wallet (NerdWallet.com) recently named Portage as one of the best places in Wisconsin to start and operate a small business.

The City of Portage operates a 24 hour taxi service that provides fast, low-cost ($3.50 each way), and reliable transportation. This service provides Portage workers an affordable transportation option for all plant shifts.

The Portage Municipal Airport is a local Medium General Aviation Airport located two minutes away. The airport offers a 3,768 foot primary runway, a secondary 2,559 foot runway, overnight hangar space, private hangar rental, tie downs, aviation fuel service, and a pilot's lounge. The airport is currently in the cue for a number of upgrades and improvements.

The City of Portage looks forward to meeting with you should you have an interest in visiting and discussing this site for your new facility.

Please contact Steve Sobiek if the City of Portage can provide additional information on sites, buildings, or City assistance, answer any questions, or facilitate a meeting or site visit.

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New City COVID-19 Small Business Relief Loan Program

The City of Portage has established a loan fund program to provide financial assistance to businesses in the City of Portage that have been adversely affected and/or required to shut down in response to the COVID-19 pandemic. The funding for this program is the Building Façade Loan Fund Program, made possible through the City of Portage and Portage Area Chamber of Commerce grant award in the America’s Best Communities Program, sponsored by Frontier Communications.

 

The COVID-19 Business Relief Loan Program has the following objectives:

1. To allow impacted businesses to continue to make payroll for their employees.
2. To lessen the financial impact that the COVID-19 pandemic and associated “Safer at Home” order from the Governor has caused to local businesses.
3. To assist small businesses who have 2O employees or less.
4. To retain jobs and bring additional employment opportunities to the City.
5. To make use of funds the City has set aside for the enhancement of the City’s businesses, which are deemed an asset of the City.
6. To spur business activity which may not otherwise have occurred

 

Key provisions of the new loan program include:

• Maximum Loan amount is $2,000.
• 0 percent interest rate, with monthly payments unless an alternative payment schedule is otherwise expressly permitted by the Community Development Authority.
• The City's Community Development Authority (CDA) will serve as the loan committee to approve/deny loan applications.
• Payback period (Maximum) is 3 years, or upon sale of the business, whichever occurs first. Payback terms and schedule shall be based on an applicant's ability to pay.
• Eligible loan activities include payroll, mortgage or lease payments, utility bills, working  capital, business loan, payments or expenses that are critical to the well-being, survival or viability of the business. Other activities not in these categories can be approved by the CDA on a case by case basis.
• CDA may require additional information on the applicant's business operation prior to March 12, 2020, including tax returns, business licenses, a business plan, or other financial statements.
• Loan program limited to small businesses with 20 or fewer employees
• Applicants must be current on all financial obligations to the City, as of March 12, 2020.
• Applicants must have suffered a negative financial impact from the COVID-19 pandemic.
• Applicants must have a physical presence in the City apart from their residence. Home occupation businesses are not eligible.
• Applicants  must have been in operation for least two months prior to March 12, 2020 although this criteria can be waived for solely seasonal businesses.
• Applicants will be required to sign a note and the establishment of a UCC lien to secure the loan as a condition of receiving loan funds.
• Applicants who provide false information will be required to pay back the loan immediately at a 4 percent interest rate.

For inquiries and further information, contact Steve Sobiek, Director, Business Development and Planning at 745.0038 steven.sobiek@portagewi.gov

Loan Program Guidelines and Application Form found here: 

BUSINESS RELIEF LOAN PROGRAM APPLICATION 20.07.07

City of Portage COVID-19 Business Relief Loan Program Policy Guidelines