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Minnesota Department of Trade and Economic Development <br />he-Application <br />Project Description <br />Generally dc�cribe w]�t yon want to do for each prepoced project fi.e. the improvements you u'avt to make); <br />and include an estimate of tbe funds. (URe atpstate pages for n�ultiple projecEs.) <br />Name of Coramuniry/Applic.adt , � <br />G ��sc�; ���, �' n nP�S4 �u , �. �'t � �c�.� n <br />Pto'ec Name: � � � <br />,� t <br />The City of Rosevillc is a first rin� suburb of the Twin Cities just north of Minneapoli� and St <br />Paul. Rosevillc is submitting this prcapplieation for the Minnesota Tnvcstment Fund on behalf of <br />iC Scrvices loeated at ?97F Cleveland Avenue North in Roseville <br />iC S�rvices began in 199� by John Koch, President and moved to Rosevillc in January of 1996 <br />and currently arc located w+tthin 15_OQtI sc�uatE fcet of manufachitit� space in a mulU-tenant <br />building off ClCVCla11d Avcnue just north of County Road C2 The company, Integra[ed Circuit <br />Services (IC Services). provides water. die, and component-)evel proeCSSing for semiconductor <br />manufacNrers and helps clients market thcir products fa.der by functioning as an extension of an <br />internal production linc. <br />IC Senticcs has cxperienced incredible growth over the past �ive years and have currently rcached <br />is production capacity in ordcr to continue is projccted growth and mcct it goal for $25 million <br />in 5ales over the next >-7 yeats, IC Scrvices must c�cpand its manufacturing facility and purchase <br />additional equipment. IC Serviees is able to expard up to 35.000 square feet at its current <br />location due to its first rights on adjacent lcased space The expansion plans of IC Setvices <br />require thc purehasc of approximately $5 million of new eqtipmcnt over the next two years. Due <br />to the high cost of the specialized equipment, iC Scrvices is requesting financial assistanee with a <br />below market Joan to help in rcduGing thc initial cash flow 5trd.in on the company Tn addition to <br />the new cquipmetrt,lC Services expects to increase its �pace with a latge clean room. which is <br />r►ecessary for the sensitivity of the products in its quality control and tcsting capacity of integratcd <br />circuits Thc below market loan Will enablE private fundc to be invcsted in thc clean room and <br />additional office spacc capacity nccdcd for thc growth of the company <br />8etwcen 1999 and 2000 YC Scnriees has doubled thcir employee baSE from 32 to Cd. TC Services <br />wilt reach 72 employees by the end of 2000 and e!cpect tu add another d8 new jobs in the next <br />two yeass Bascd upon thE ptojected hires and �age level. thc City of Ro�cville is rEqucsting <br />Minnesota Znvcstmeo+ Funds in the amount of $298.000 to be provided to IC SerVice� as a below <br />market loan. It is expedcd that thti interest ratc will be bdo�v 6 perccnt for a term not to ehcECd <br />the usefill life of the equipmcnt ptuchascd whieh is betwcen 5-10 years. If this projcct is selected <br />to procced to fiil.[ application ti�e City wili provide rnore detail regarding thc interest rate and term <br />through negotiations with IC Scsvices. <br />IC Servicce has proti�idcd a detailcd list of thc eqtipmcnt needcd to irnplEmcnt their expansion <br />plans ovcr the next ta'o years. The list includes a dcscription of the equipmcat and rea�ons why <br />they arc critical to thc company's futur� �u.eceSS. <br />U.�Economi� Uc�elo�me��fi�i�,na¢a Rcecrt�on Pror,�amsuC Scrv�ee� pr� •1p�Lcation �1�� <br />l8i-� ZO/ZO d 811-1 031a_woa� we�O�OI 00-10-^�N <br />