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.
Click here to get your application started
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.
Like many communities, this has been a long year as our community struggled with the Covid pandemic. Yet in Middleton there is rising optimism as the weather turns warmer and area vaccination programs gain momentum. Week by week, we continue to see progress in the Good Neighbor City as we move towards a new normal.
The Middleton Area Development Corporation has a history of helping businesses in our community and there is no better example than our Middleton Economic Relief Loan (MERL) program that was launched late last fall. With the assistance of the City of Middleton, we were able to establish a special innovative loan fund specifically designed to help businesses through the pandemic. MERL was launched with joint funding from MADC and the City specifically designed to offer low interest financing to help our business community. The response has been significant with nearly two dozen businesses receiving financing through MADC. With the combination of MERL financing and a second round of PPP funding, we expect to see a nice recovery for many of our businesses in 2021.
I want to express my sincere gratitude to the MADC Board for their unwavering support during these difficult times. Their compass heading always pointed towards serving our community. And I cannot forget the many residents and friends of Middleton who did their part to patronize so many businesses. MADC will continue to do it's part too as we all look forward to better times in 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.