Jump River Electric Cooperative (JREC) is a non-profit electric service provider for rural communities across six Wisconsin counties, including: Barron, Chippewa, Price, Rusk, Sawyer, and Taylor. Their mission is to provide reliable, safe, sustainable, and affordable utility services to the communities they serve. JREC supports economic development in their service territory, and they partner on projects that benefit the local communities.
JREC invites you to discover the Cooperative Difference where their customers – business, residential, and agricultural – are their member-owners. From grassroots development initiatives to existing business expansion, entreprenurial development, and new business attraction, their team is here to assist you in applying for a rural economic development loan.
RURAL ECONOMIC DEVLOPMENT LOAN PROGRAM
Low interest rate gap-financing may be available through Jump River Electric Cooperative to support qualifying business or community development projects.
Eligible Projects and Applicants
- Business/Organizations (for profit, non-profit, commercial, industrial, retail, distribution, agricultural processing, land, buildings, machinery & equipment)
- Community Facilities (infrastructure (sewer, water, streets, rail), business/industrial parks, fire/EMS buildings & equipment, libraries, community centers)
- Health Care & Education (hospitals, clinics, assisted living, child care)
- Amount – determined on a case-by-case basis by the cooperative board of directors; based on the project and specific loan program requirements
- Rate – typically ranging from 0% to below prime interest rates
- Term – maximum of 10 years
- Security – adequate security as determined by the cooperative board of directors
- Contact Jump River Electric Cooperative at 715-532-5524 to discuss your project and begin the loan application process.
Financial Packaging Assistance
- Based on the unique attributes and needs of your project, we will also work to connect you with the right mix of resource providers, including: local financial institutions, local, state & federal economic development incentives, and local, state & federal loans and loan guarantees.
JREC is an equal opportunity provider and employer.
Xcel Energy is the electrical service provider for most of the communities and industrial properties in the County. In addition, they are part of Rusk County’s Green Energy Portfolio. The utility operates 3 hyrdo dams in the County, all on the Flambeau River, with a combined generation capacity of 12 MW. Xcel is a great partner to business and are able assist companies in expansion and start-up efforts.
This plant in Ladysmith manufactures relay and industrial control products and is part of a worldwide leader in the areas of automation, integrated control systems and software solutions.
The COVID-19 pandemic has presented challenges to all forms of Wisconsin businesses. Operations have been impacted through social distancing, interference with supply chains and employee availability. The WEDC is working with state agencies to provide resources for businesses and aiming to sustain and maintain what you have built.
Additional resources can be found in the Wisconsin Main Street COVID Response Report. This can help with information on any of these topics:
- About COVID-19
- General Business Best Practices & Resources (Legal, HR, etc.)
- Organization Strategies (Downtown Organizations)
- Business Strategies
- Example Marketing Materials
- Additional Resources
The WEDC has a guide for strategies and resources for small businesses and community groups. WEDC_Resources for COVID-19
The Northwest Wisconsin Workforce Investment Board has a list of online resources ranging from the Northwest Regional Planning Commission, Wisconsin Manufacturers & Commerce (WMC), the CDC, OSHA/HHS, U.S. Chamber of Commerce
On Saturday March 21 the Small Business Administration (SBA) declared all of the counties in Wisconsin an SBA Economic Disaster. The SBA is now accepting applications for disaster assistance loans for small businesses impacted by COVID-19. Disaster assistance loans will be offered up to $2M. These loans are working capital loans designed to sustain your business in the way it could have existed if the disaster had not occurred (assessing your ability to pay accounts payable, payroll, paying fixed debt, and other operating expenses). These loans are not intended to be for equipment, expansion or to cover past lost profits or make up for an already struggling business read more…
Wisconsin Follows Federal Government, Extends Tax Deadline
Late last week, the federal government announced that tax deadlines were extended. This extension has now been applied to Wisconsin state taxes as well – automatically extending the deadlines to July 15 and waiving interest and penalties for taxpayers due to a President-declared disaster.
This relief is solely for income tax payments and does not require tax filers to file extension forms to be eligible for the new due date.
Community Development Financial Development
List of Certified Community Development Financial Institution (CDFIs) with Contact Information
Department of Workforce Development
This site is updated regularly with relevant information about COVID-19 as it becomes available.
Information for the public regarding DWD and the COVID-19 virus.
Information includes General Public Information
- Layoff Notice Requirements
- Sick Leave
Governor Evers issued an Executive Order requiring all non-essential businesses to close. The order is in effect through April 24th or until the Governor lifts the order. The new order allows taverns/restaurants to continue to offer food to be delivered or picked up. The new order also allows a tavern without a food license to sell liquor to go in the original unopened package. Read more at: https://www.tlw.org/
Since 1963, Artisans has been designing and producing the very best in apparel right here in Rusk County. Their work continues today utilizing the latest in technologies, from sublimation to laser embroidery. A homegrown company, started by the Dukerschein family, it originated on their family farm. It grew over the years on the farm, and then relocated and helped start the Glen Flora Industrial Park.
“I was born and raised in Ladysmith, Wisconsin. After high school, I took off, went to college in the Twin Cities, and traveled to many parts of the world like Tanzania, Ecuador, Mexico, the UK, and several US states. I moved to a small beach town in Florida for awhile after college but somehow found myself thinking about my hometown. After exploring parts of the world, I moved back to Ladysmith and found peace in the comfort and familiarity. It’s awesome being back home and seeing people from different generations come together and work towards making our small town a great place to live. I love going to local businesses and seeing many people I know, the live music opportunities at several of the local establishments, and the plethora of outdoor activities in nature. You can always venture out and explore the world, but there’s just something about that friendly small town vibe that keeps bringing me back home.”
Rusk County Resident