Last updated on July 2nd, 2019 at 10:58 am
Milwaukee-based restoration business, Sid Grinker is piecing together financing to more than double the size of its family-owned business.
The company is hoping to more than double the size of its 5,000-square-foot building at 416 W. Walnut St. by adding 5,656 square feet.
This week, Sid Grinker is asking the Milwaukee Economic Development Corp. for $500,000 for the expansion.
This comes after Sid Grinker applied for $10 million in tax credits though the First-Ring Industrial Redevelopment Enterprise, (FIRE) advisory board August.
The FIRE board did not approve the request and instead choose to grant $9.25 million in New Markets Tax Credits for the Palermo Villa Inc. to expand its manufacturing facility in the Menomonee Valley
In 2007, the city of West Allis created the FIRE as a community development entity to issue tax credits to help finance developments in low-income areas throughout southeastern Wisconsin.
The total project cost is $1.3 million.
Sid Grinker Inc., has $4.4 million in assets and $9.1 million in annual revenue. The company provides restoration services after fires, floods and vehicle damage with an emphasis on commercial and multi-family homes.
Company owner Mike Grinker could not immediately be reached for comment.