Hardcore Computer + $200,000 loan
Remember Al Berning's new business, Hardcore Computers, that I wrote about a while back?
It booted up a pretty good loan last night.
A Rochester start-up planning to develop high-end computers for the video-gaming industry will get a $200,000 low-interest loan in exchange for creating 25 or more jobs.
The Rochester City Council voted 7-0 to approve the subsidy on Monday. The aid includes a $150,000 Minnesota Investment Fund loan and $50,000 in previous MIF funds the city had retained for use in a revolving loan program.
The recipient business is called Hardcore Computers, a business co-founded by Pemstar founder and former chief executive officer Al Berning and three partners.
Berning told council members the high-end desktop computers his company will develop are initially intended for use in video game consoles, but could see their use expanded to intensive graphic-design and engineering practices.
The economic aid requires the business to hire 25 people at a minimum hourly salary of $10.67 each. Those hires are required within two years.
The company plans to hire 50, according to Berning, and the wages will “far exceed” the required minimum, said Terry Spaeth, an assistant city administrator who reviewed the company’s aid application.