Issue link: http://www.insightdigital.biz/i/468967
I N D E V E L O P M E N T 2 0 1 5 11 S P O N S O R P A I D P R O F I L E www.fnbfoxvalley.com FNB FOX VALLEY Commercial lending on the rise By Peter Prickett, President, FNB Fox Valley N ortheast Wisconsin's commercial real estate market ended on a solid note in 2014, and we are anticipating continued growth in 2015. This growth is due mainly in part to the improved economy, stronger borrower collateral and a higher confidence in lending. Further opportunities for growth have begun opening in our market and we're witnessing more owners expanding and investing in their businesses. Wisconsin banks saw a 14 percent average increase in commercial lending year over year by the third quarter of 2014. This increase is a prime example of how Wisconsin's banking industry fuels the expansion of business throughout the state. FNB Fox Valley experienced a 17 percent growth year over year in commercial lending, exceeding Wisconsin's average. Based on the loan demand we've observed in the market, FNB Fox Valley anticipates a similar amount of progress in 2015. The Wisconsin Bankers Association's economic condition survey provides an optimistic forecast that 2015 will bring an increase in business, commercial real estate and agricultural loans. The threat of rising interest rates has been lingering for years, and while there is some anticipation of an upturn in late 2015, the current low rate environment continues to be advantageous to borrowers. Peter Prickett became the president of FNB Fox Valley in May, 2007. Peter's years as a small business owner and his extensive bank management experience fire his passion, vision and confidence with which he leads FNB. Peter exemplifies the community-centric culture at FNB Fox Valley, serving on the committees and boards of several local organizations. For more information on FNB Fox Valley, visit www.fnbfoxvalley.com FNB Fox Valley experienced a 17 percent growth year over year in commercial lending, exceeding Wisconsin's average. SPONSORED CONTENT T he streets and sidewalks of Oshkosh may seem a bit busier these days thanks to DealerFire's decision to bring its workforce downtown. The automotive Internet marketing firm will double the size of its workforce as it begins settling into the renovated historic building at 531 N. Main St. The company has invested $1.25 million to renovate the century-old building, which had been vacant for more than a decade. Once fully-occupied, the company expects to have about 180 full time employees at the new facility. DealerFire joined a growing trend in Oshkosh of companies adapting some of the city's older downtown buildings for current business use. With two projects pending, and at least five others under development or approved, the city's core has become a hot location. "Things seem ready to pop right now," says Rob Kleman, senior vice president, economic development at the Oshkosh Chamber of Commerce. "We are seeing a nice balance." To help with the project, Wisconsin Economic Development Corporation awarded DealerFire up to $522,000 in economic development tax credits for the project, if the company fully meets the terms of the agreement, which include the creation of 123 new jobs. The city of Oshkosh secured a $250,000 Community Development grant to assist with the renovation costs. In addition to the heart of the city, Oshkosh is experiencing a flurry of both manufacturing development adding new jobs to the economy, as well as retail projects adding to the mix of services in the community. Rob Kleman, senior vice president, Economic Development Oshkosh Chamber of Commerce (920) 303-2266 Downtown Oshkosh a hub for adaptive projects