State investing more than $3.3M in multiple projects
COLUMBUS – The Ohio Department of Development announced the release of more than $3.3 million through a pair of transformative programs designed to stimulate business growth and community enhancement across the state.
Jackson-grandview Builders, Inc., will receive $2.9 million to assist in financing the construction of a 31,920-squarefoot speculative industrial facility and an access road on a 5.86-acre site located within the Salt Creek Industrial Park in Jackson (Jackson County). The project, which is expected to cost more than $4.1 million, will create at least 25 full-time equivalent jobs.
Two companies will benefit from the Regional 166 Direct Loan Program.
Area 419 Firearms, LLC, will receive $222,000 to assist in financing the purchase of two new pieces of equipment – a GROB G350 5-Axis CNC and a Metalcraft Automation Group Robotrex – at 4750 County Road 5, Delta (Fulton County) that will improve business efficiency.
The project, which totals $947,508, will create two full-time equivalent jobs, and retain 28 existing jobs.
Graphite, Design + Build Limited will receive $210,000 to assist in financing the purchase of a 9,000-square-foot two-story condo warehouse/ design studio building at 17 North Huron St., Unit A, Toledo in Lucas County that will enhance business efficiency.
The project, which totals $525,000, will create three full-time equivalent jobs, and retain three existing jobs.
The Regional 166 Direct Loan Program promotes economic development, job creation, and retention by providing low-interest loans to businesses with limited access to adequate capital from private funding sources.
“In Ohio, we’re making sure businesses have the capital they need to succeed,” Lydia Mihalik, director of the Department of Development, said Monday in a news release. “These investments will have a lasting impact for companies looking to grow here in the Heart of Opportunity.”
The Ohio Controlling Board approved the release of these funds at its Monday meeting, along with the $64.2 million announced Friday by Gov. Mike Dewine for the Appalachian Children’s Health Initiative.