Mercury set to receive $20 million loan - Trade Only Today

Mercury set to receive $20 million loan

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Fond du Lac County executives in Wisconsin expect to have a signed agreement in place by the end of the week that would release a $20 million loan to Mercury.

The loan is for economic development and job retention in Fond du Lac County, and will mark the first appropriation to the Fond du Lac County Economic Development Corporation for a $50 million loan to Mercury Marine that was authorized by the County Board of Supervisors, according to Gannett Wisconsin Media.

The $50 million, low-interest loan to Mercury will be funded with a new county sales tax that will start on April 1.

In September, the majority of Mercury's 850 International Association of Machinists and Aerospace Workers Local 1947 members voted to accept concessions to their contract in order to preserve local manufacturing operations.

The vote also meant that jobs from Mercury's plant in Stillwater, Okla., would be incorporated locally and that the company's global headquarters would remain in Fond du Lac.

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