City Council Approves Forgivable Loan
Posted: February 12, 2014
Riverside Machine and Engineering recently approached the City of Eau Claire about their intent to purchase a portion of the Hutchinson Technology, Inc. building in the Gateway Industrial Park.
Riverside is currently located in Chippewa Falls in a building they own and have outgrown with no expansion potential. The company intends on moving their Chippewa Falls operation to Eau Claire and to sell their building in Chippewa Falls. Riverside Machine and Engineering has 71 existing jobs and projects to hire 33 new jobs in Eau Claire over the next five years. If the 33 jobs are created, the $33,000 City loan will not have to be repaid.
Riverside Machine and Engineering's parent company, Metal-Craft, is located in Elk River, Minnesota.