GigaCrete Midwest Business Startup Project - Northwest Side Community Development Corporation (NWSCDC) will use $800,000 in CED funds to provide a loan to GigaCrete Midwest, a manufacturer of modular home systems, in Milwaukee, Wisconsin. GigaCrete, Inc. is an established USA manufacturing business that has created a new modular construction system which eliminates the need for timber and most other traditional building materials, offering homes substantively less expensive than those made using traditional construction practices. The loan will finance new equipment, support construction buildout costs, and provide working capital for GigaCrete Midwest to launch operations in a 32,000 square foot manufacturing space at an existing industrial facility in Milwaukee’s 30th Street Corridor. Once launched, GigaCrete Midwest will create full-time, permanent manufacturing jobs for residents of Milwaukee’s northwest side, which faces poverty rates of 27.6%, much higher than the national and state average. The space will also result in to 300 new affordably priced American-made homes per year on vacant lots in Milwaukee. Employees of GigaCrete Midwest will have many benefits: access to public transit, competitive starting wages, wage growth and work advancement opportunities, paid time off and dependable hours, and wrap-around services with a focus on financial literacy and capability, access to childcare, transportation, and homebuyer preparation. The project will create 29 jobs, 22 of which will be filled with individuals with low income.
