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Milinesota Department of Trade and Economic Development <br /> &e-Application <br /> Project Description <br /> Geveratly describe what you want to do for ach prnposed project(Le.the improvements you want to rnake); <br /> and include an estttnate of the funds.CUB separate pages for multiple projects.) <br /> Name of Community/AppllCadt <br /> (CXWL 0+1 <br /> Project Name: <br /> The City of koscvIllc is a first ring suburb of the Twin Cities just north of Minneapolis and St <br /> Paul. Rosevillc is submitting this (0,application for the Minnesota Investment Fund on behalf of <br /> JC Services located at 2976 Cleveland Avenue North in Roseville. <br /> lC Services began in 1994 by John Koch,President and moved to Roseville in January of 1996 <br /> and currently arc located within IS.00n square feet of manufacturing space in a multi-tenant <br /> building off0cveland,Avenue just north of County Road C2 The company,Integrated Circuit <br /> Services[IC Services).provides water. die, and component 4evel processing for semiconductor <br /> manufacturers and helps clients market their products faster by functioning as an extension of an <br /> internal production linc. <br /> IC Services has cxperienced incredible growth over the past five years and have currently reached <br /> is production capacity In order to continue is projected growth and mcet it god for$25 million <br /> in sales over the next 5,7 years,IC Services must cxpand its manufacturing facility and purchase <br /> additional equipment.IC Services is able to expand up to 35.000 square feet at its current <br /> location due to its first rights on adjacent leaped space The expansion plans of IC Sctviccs <br /> require the purchase of approximately$5 million of new egtipmcnt over the next two years. Due <br /> to the high cost of the specialized equipment, IC Services is requesting financial assistance with a <br /> below market loan to help in reducing the initial cash flow strain on the company. Jn addition to <br /> the new cquiprnent,W Services cxpects to increase its space with a large clean room.which is <br /> neccssaty for the sensitivity of the products in i is quality control and testing capacity of integratcd <br /> circuits.The below market loan will enable private funds to be invcsted in the clean room and <br /> additional office space capacity needed for the growth of the company <br /> Between 1999 and 2000 IC ScrVices has doubled their employee base from 32 to 64.JC Services <br /> will reach 72 employees by the end of 2000 and cxpect to add another dg new jobs in the next <br /> two years Based upon the ptvjected his and wage level. the City of Roseville is requesting <br /> Minnesota Investment Funds in the amount of $298.000 to be provided to IC SerViccs as a below <br /> market loan, It is expcctcd that the interest rate will be below 6 percent for a terra not to excecd <br /> the usefd life ofthe equipment pwchascd which is betwccn 5-14 years. If this project is selected <br /> to proceed to full application the City will provide more detail regarding the interest tote and term <br /> through negotiations with IC Services. <br /> IC Sczviccs has provided a detagcd list of the egtipmcnt needed to implement their expansion <br /> plans over the next two years. The list includes a description of the egtipmcnt and reasons why <br /> they arc critical to the company's future success. <br /> 0-Tconomic I] velormcwTotinare Retcn i"rrorram uc services Pt^c Applica#ion,doo- <br /> !8Z-� ZQ/M d BIZ-,t a31a-m0l i Wei 0:O[ 00-10-ADN <br />