DCEDC is helping facilitate the formation of an angel investment group in Door County. Angel investors are high income/high net worth individuals, typically with $200,000/year annual income and/or net worth of over $1 Million, who are willing to assume the risks associated with financing seed stage and start-up businesses. Risk capital functions to provide funding for the development of business ideas and products, to fund the start-up of new companies and to fund the growth of new business ventures.

The formation of a Door County angel investment group was one of the seven priority action steps identified by the DCEDC staff and Board of Directors from among the 75 individual action steps that were outlined in the Door County Economic Development Adjustment Plan. For more information regarding the Door County angel investment group, please contact Sam Perlman, Economic Development Manager, at (920) 743-3113 x204 or sam@doorcountybusiness.com.

Although the Door County angel investment group will have an open investment focus to begin with, eventually the network will be looking specifically for businesses that could locate in Door County and especially companies that could take advantage of the new fiber optic telecommunications network being deployed on the peninsula by Brilliant Cities, Inc.

Beginning January 1, 2006, a sales tax exemption will be available for fuel and electricity used in manufacturing. Eliminating sales tax can help businesses reduce their operating costs. To qualify for this exemption, manufacturers must provide electricity and fuel suppliers with a sales tax exemption certificate. This form specifies the amount of electricity or fuel that will be purchased and used to manufacture tangible personal property. You can download a copy at the link below.

The new exemption will replace the current law, which states “income tax credit for sales tax paid on electricity and fuel consumed in manufacturing tangible personal property.” In the past, the income tax credit often exceeded the income tax liability of the manufacturer. This resulted in the income tax credit being carried forward (or expiring if not used in 15 years). Beginning January 1, 2006, any unused income tax credits being carried forward will be phased out.

(Information courtesy of Wisconsin Public Service, who suggest manufacturers work closely with their tax advisors to specify the amount of electricity or fuel that will be used in manufacturing, and to complete an exemption certificate.)

DCEDC recently announced that Paul and Justine Mancheski, founders of WaterScape Designs, LLC, were the winners of a $1,000 cash award for the best business plan originating from the NxLevel Entrepreneurial Training course conducted earlier this year. In addition to the $1,000 cash prize, the Mancheskis will also receive a $5,000 advertising package for their business from DoorCountyDailyNews.com and the radio stations WBDK-FM, WRLU-FM and WRKU-FM.

The twelve-week NxLevel Entrepreneurial Training course will again be offered in Door County beginning in January 2006. Contact Sharon Spengler, DCEDC Office Assistant, at (920) 743-3113 x200 or sharon@doorcountybusiness.com if you are interested in receiving registration information about the class.

On Thursday, September 15th, David and Judy Pichette became the first recipients of a $15,000 zero interest loan from the Door County Housing Assistance Program, to facilitate their purchase of a home in the MeadowWood development in Liberty Grove. Judy, a church secretary, and David, a grocery store clerk, were able to take advantage of the program that was established earlier this year to help qualified families of low- to moderate-income (LMI) levels purchase a home in Door County.

The MeadowWood development is located on Highway 42 between Sister Bay and Ellison Bay, consisting of high-quality manufactured homes suited to the needs of families, 14 of which remain available for LMI buyers. In addition to the CDBG-funded Door County Housing Assistance program, there are grants, low-interest loans and other financial assistance available for qualified homebuyers from a variety of sources, including Lakeshore CAP in Manitowoc, the Wisconsin Housing and Economic Development Authority and USDA Rural Development. Interested parties should contact John Holmes at MeadowWood Homes for more details or to arrange a tour: (920) 854-6333.

The Door County Job Center still has space available for their upcoming Employer Day event on Tuesday, November 15th. Speakers from state government and the private sector will facilitate workshops on workforce-related topics that have been chosen by local human resource professionals through employer surveys and focus groups. Employers of all sizes from Door and Kewaunee Counties are invited to attend.

Employer Day will be held on November 15th, 9:15am to 3pm, at Leathem Smith Lodge in Sturgeon Bay. Registration includes access to workshop sessions and the keynote luncheon. Registration fee is $50.00 For complete details on presenters and topics, contact Pam Busch or Kim Carley at the Door County Job Center, (920) 743-6915.

Organized by the Green Bay Area Chamber of Commerce, the Global Speaker Series is a set of quarterly luncheon presentations by renowned experts on important business topics and trends. Perfect for business owners, senior company leadership, financial industry representatives, economic development professionals, elected officials and educators, the Global Speaker Series focuses on pertinent themes directed at improving the international competitiveness of area businesses.

The first presentation will be Tuesday, October 4th by Franklin A. Vargo of the National Association of Manufacturers. He’ll discuss the “Impact of Free Trade Agreements on U.S. Manufacturers.” This session will highlight the pros and cons of the US- Dominican Republic-Central America Free Trade Agreement (DR-CAFTA) and other United States Free Trade Agreements on area companies. Other presentations will follow in December, February and May.

Belated congratulations are in order to DCEDC Office Assistant and Business and Education Manager Sharon Spengler and her husband Erik on the birth of their daughter Emily Margaret. Emily arrived on Tuesday, July 19th, and is a healthy, happy and beautiful baby girl!