Economic Development

Milwaukee’s Northwest Side Community Development Corp. (NWSCDC) has been awarded $740,402 and the Martin Luther King Economic Development Corp. (MLKEDC) has been awarded $545,800 in federal urban development grants through the U.S. Department of Health and Human Services (HHS) Office of Community Services.

The U.S. Department of the Treasury announced that five additional Wisconsin community banks received a total of $31.9 million as part of the final wave of funding provided through the Small Business Lending Fund (SBLF).

Bank of America Corp. is planning to charge millions of customers a $5 monthly fee to use their debit cards, and other large banks are expected to follow suit.

Sealed Air Corp. of Elmwood Park, N.J., announced it has completed its previously announced acquisition of Sturtevant-based Diversey Holdings Inc., a leading solutions provider to the global cleaning and sanitation market.

An alumni couple has donated $5 million to the Marquette University College of Engineering to establish an endowed chair in electrical engineering, Opus Dean of Engineering Robert Bishop announced.

Wells Fargo & Company informed the Wisconsin Department of Workforce Development last week it will permanently eliminate 31 employees at its 100 E. Wisconsin Ave. location in Milwaukee.

The Wisconsin Technology Council has announced a partnership with Monument Capital Group LLC of Washington, D.C.

Generac Holdings Inc. reported that widespread power outages caused by severe weather throughout the Midwest and the East Coast are creating increased sales for its backup power generators.

Although the stock market has rocked investors’ confidence in the past week, employers in Wisconsin and Illinois are remarkably confident about their own prospects for the fourth quarter, according to the latest QPS Employment Forecasting Survey.

Some of the tax related provisions of President Barack Obama’s proposed American Jobs Act of 2011 could encourage employers to stimulate the economy.