Promote economic development within the City of Middleton utilizing loan programs to expand and develop business opportunities with qualified companies.
MADC Mission Statement
MADC is a private loan fund administered by a local board comprised of members with a variety of backgrounds including bankers, business owners, and private investors. We work in conjunction with the City of Middleton and the Middleton Chamber of Commerce on prospective projects that promote and build our growing Middleton economy. Legally, MADC is a 501(c)(4) Not For Profit non-stock corporation, and retains its own legal and accounting professionals. Prospective applicants deal exclusively with MADC on a confidential basis.
Our involvement in a proposal can occur in a number of ways, either as a line-of-credit loan, or an installment structured loan. Based on the evaluation of the proposal, MADC can provide economic development funds to facilitate a variety of projects for both existing businesses, or new companies considering relocation to our growing community. Projects can include infrastructure improvements, renovations necessary for a relocation, new construction, even equipment or machinery purchases to grow a business.
The Middleton Area Development Corporation (MADC) is collaborating with the City of Middleton to provide a new loan fund known as the Middleton Economic Relief Loan (MERL) program. The intent of the MERL program is to offer low interest loans to businesses in the City of Middleton with flexible repayment terms.
The fund may remain in existence beyond the end of the year, or as committed funds to the program are available, whichever comes first.
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MADC was originally formed in the late 1970's to begin Middleton's economic development efforts, however, our nation's tough economic times of the mid 1980's forced the group to cease operations. Things changed, and our economy improved, and beginning in 2000, recognizing the need and opportunity to help grow Middleton, MADC was reincorporated, and in 2003 a new agreement between MADC and the City of Middleton was created that still exists today.
Today, MADC Board members all share a common goal of growing Middleton and surrounding area, by providing a variety of loan opportunities to facilitate economic development in our area.
Thank you for your interest in the Middleton Area Development Corporation. For 2022, MADC will start focusing on planning for our next three years. With the ongoing development in Middleton, MADC will offer our services to help our business community expand and grow in the Good Neighbor City.
It is worth noting that 2021 was a highlight year for MADC. First, we successfully generated $595,000 under the Middleton Economic Relief Loan program to help Middleton based businesses get through the economic struggles of the pandemic. The MERL program would not have happened without the participation and support from the City of Middleton to create the loan fund. Once established the Middleton Chamber of Commerce pitched in to help promote the program. To date, 1 of 3 loans have been repaid in full and the remaining loans are all in good standing. Listening to our business community, collaborating with the City and rolling out a creative loan program through MADC proved to be a successful formula.
Our second highlight features a new beginning in downtown Middleton with the opening of the Stone Horse Green Plaza. The MADC Board recognized the economic and community benefits of this project and stepped forward in 2021 to establish a $100,000 match grant fund. The community responded and our grant was fully matched in less than two months. The Stone Horse Green Plaza is yet another example of a public-private partnership to help build our community.
This year also marks the end of terms for three long time Board members have had made numerous contributions over the years. I want to extend a special thank you to Mike Petta, Andy Lewis and John Geigel for their dedication and hard work on the MADC Board. Our organization would not be where it is today without their guidance.
Is there some way that MADC can be of help to your business? Perhaps provide an introduction or a referral to one of our area professionals? If so, please contact me and we will do our very best to help you become part of the Good Neighbor City.
Simply put, Middleton is just a great little community. A great place to work, a great place to live, and a great place to be from.
Middleton is calls itself the Good Neighbor City, it is a a description that applies not only for the people who live in the city, but also the relationships with the businesses and corporations located in the city as well. Middleton is the corporate headquarters for companies like Spectrum Brands, American Girl, Fiskars International, and Electronic Theatre Controls in part because it combines geographic availability, attractive incentives and a willingness to work in partnership to grow with each other. In concert with this, Middleton offers a quality lifestyle of living, dining, retail, and recreational opportunities for its citizens, and employees of these companies.
The opportunities are not limited only to large corporations, and at MADC we work with all size businesses interested in expansion within, or relocating to Middleton. The city of Middleton offers much more that similar size cities of 20,000 residents, and from a business and economic development perspective, the Middleton Area Development Corporation is a key attribute making it better than most.