The Rushford City Council has approved a $145,000 subsidy loan to Rushford Hypersonic.
The Tri-County Record reports the funds will be used for the purchase of some new equipment that will put the company in a position to fill orders of up to $10,000 drill bits per month.
The company has perfected a coating process that will make the bits stronger.
The approval came after the council and the Rushford Economic Development Authority held a joint public hearing.
The $145,000 is on top of the $500,000 the city has previously invested in the firm.....