Home > News > Hypersonic takes back request for Rushford funding
November 10th, 2010
Hypersonic takes back request for Rushford funding
Abstract:
In a letter to the Rushford Economic Development Authority, Hypersonic withdrew its request that the city of Rushford help fund an expansion project, a decision that came on the heels of contentious talks between the parties over the details of the agreement.
Hypersonic CEO Dan Fox started the nanotechnology company in Rushford in 2008 with the help of a $500,000 loan from the city's EDA.
This fall that loan was among a handful that cast Rushford into the spotlight after state auditors ruled it was an inappropriate use of flood recovery money given to Rushford after the floods in 2007 because Hypersonic was not a flood damaged business.
Source:
winonapost.com
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