APAK, Inc. Invests in the City of Racine


Business Apak, Inc.
Lending Partner  
Owner Ed Raynor
Location City of Racine, Wisconsin
Project Business Expansion
Jobs Creating 34
Financing Source Racine Development Group Revolving Loan Fund (RDG RLF)

In 2014, Apak, Inc. contacted Racine County Economic Development Corporation requesting assistance with finding a Wisconsin location to expand its growing contract manufacturing operations headquartered in Mundelein, IL. The company, which specializes in dry product packaging for retailers such as P&G, Walmart, Costco, Walgreens, Target, Trader Joe’s and The Dollar Stores, offers a variety of packaging options to meet their customer’s needs, including vertical and horizontal fill and seal baggers, stand-up zipper pouches, bag in a box, shrinkwrapped packaging and more. With RCEDC’s assistance, Ed Raynor, owner of Apak, secured a lease location at 3801 S. Memorial Drive. 

In 2015, Ed reached out to RCEDC again seeking assistance to purchase their leased facility; kicking off a growth plan to increase its Racine employment base from 12 employees to 46 employees. RCEDC worked with the company to access financial assistance for the business expansion project generating a total assistance package of $286,850 which included incentives from the City of Racine and a low-interest loan through RCEDC’s Business Lending Partners.

Ed Raynor shared, “We were told that Racine County was a business-friendly location and that RCEDC would help us navigate through our business expansion process. Both statements have proven to be true and we are excited about our growth potential in Wisconsin.” The company intends to double the square footage of their Racine facility within the next 2-3 years.

SBA 504

June 2017

20-Year Fixed Rate:

4.596%

10-Year Fixed Rate:

4.514%

Historical Rate Graph