Milwaukee-based TJM Innovations LLC is seeking a $1.24 million loan from the Milwaukee Economic Development Corp. to purchase equipment.
TJM also plans to invest $1.24 million from other sources, for a total investment of $2.45 million. Of the investment, $2.3 million will be used to purchase the equipment and $180,000 will go toward the installation of a sprinkler system, according to the MEDC application.
The additional equipment will be used to expand the company’s GutterStuff product line. GutterStuff, a foam gutter filter that allows water through but prevents debris buildup, is sold at several big box retail stores and a number of hardware stores in the U.S. and Canada, as well as online.
TJM currently has 12 full-time employees. With the funding, the company expects to add 10 full-time and two part-time employees over the next two years.
“We are just going gangbusters, so we need to keep up with demand,” said Julie McNamara, president of TJM. “We are in a couple of large retailers nationwide and in Canada and our contractor business is picking up, both in gutter protection and pest control. We anticipate a 30 to 40 percent growth per year over the next three to five years, so this loan will help us meet the additional demand and also improve on our operating costs.”
The manufacturer, which also makes a Roof Drain foam filter, CorbZorb eco-friendly absorbent products and Bandshell iPhone sound amplification cases, is based in a 104,000-square-foot facility at 5519 W. Woolworth Ave. in Milwaukee. TJM, which was founded in 2007, is also currently expanding its CobZorb line, McNamara said.
TJM’s application will be considered at the MEDC meeting Tuesday afternoon.