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LaCrosse Footwear inks financial pact with PDC

22
Feb '06
Leading provider of branded work and outdoor footwear for expert users LaCrosse Footwear Inc has announced an agreement with the Portland Development Commission (PDC) for a $750,000 loan and grant package to assist in bringing LaCrosse's Corporate Headquarters and the Danner Distribution Center to the City of Portland.

PDC is the city's agency for economic development, housing, and urban renewal.

The loan and grant are designed to bring quality jobs to the City of Portland and help defray the capital investment costs of LaCrosse's long-term operating lease for its new 145,000 square foot building.

The custom-designed facility is designed to be an appealing and creative environment to attract the high caliber product development, marketing and sales professionals that are critical to the company's ongoing success and future growth.

LaCrosse received incentive funds tied to job creation and investment through PDC's Quality Jobs Program (QJP) and Economic Opportunity Fund. The QJP is a loan that is forgivable over a two-year period as long as certain employment requirements are fulfilled.

Joseph Schneider, President and CEO, said, "Our business has expanded in recent years, and we have outgrown our current facilities."

"The PDC was instrumental in our selection of a new home in the City of Portland and the loan and grant were important considerations in our selection process. We are proud to bring LaCrosse to Portland andlook forward to a prosperous future in the City," he added.


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