By Correne Martin
A new industrial company that manufactures, repairs, and recycles electrical transformers will likely take root soon in Prairie du Chien’s North Gateway Business Park. Solomon Corporation, based in Solomon, Kan., plans to open and operate its fifth regional location at the business park’s spec building, owned by Bill Adamany, during the first quarter of 2016.
The city council approved offering an incentive package to Solomon Corporation following closed session at its Tuesday night meeting. The terms are: 1) The city will provide a loan of $571,125, at 0 percent interest, to the company for a term of 15 years, with monthly payments of $3,173, beginning Jan. 1, 2017, and the Solomon Corporation shall provide a mortgage on its property in Prairie du Chien as collateral for the loan; and 2) the city will sell the company two adjacent acres in the business park at a price of $100 per acre. The council approved these terms unanimously.