(From the Ohio Department of Development)
The Ohio Department of Development today announced the release of more than $5.3 million in funding to support business growth and community enhancement.
During its Monday meeting, the Ohio Controlling Board approved the release of more than $1.6 million through its Regional 166 Direct Loan program to benefit a pair of businesses and more than $3.7 million in Roadwork Development Grants to assist in a trio of construction projects.
“Through strategic partnerships with businesses across Ohio, we’re creating environments that directly support economic growth and job creation in communities large and small,” said Lydia Mihalik, director of the Department of Development. “Infrastructure improvements are seldom pretty, but the millions of dollars we’re investing in these projects are investments in the lives of Ohioans and the futures of the places they call home.”
The Regional 166 Direct Loan Program provides low-interest loans to businesses with limited access to capital from private funding sources. Through the Regional 166 Direct Loan program, Flormak Developments USA, Inc., will receive $1 million, and Advance Apex, Inc., will receive $640,000.
Flormak Developments USA, Inc., is a real estate holding company that will receive the loan, along with coborrowers Kamrolf Developments, Inc., Marnat Enterprises International, Inc., Defifoods Group International, Inc., Group Defi Inc., Karlo Flores, and KFM Foods International, Inc., to assist in financing the purchase of a new HVAC system and climate control upgrades at 1340 W. High St. in Defiance. The project will create 10 new full-time-equivalent jobs, and four existing jobs will be retained.
Funds from the Regional 166 Direct Loan escrow account will also assist Advance Apex, Inc., in financing the purchase of two new Makino DA300 5-Axis Vertical Machining Centers at 2375 Harrisburg Pike in Grove City. Through the project, three new full-time equivalent jobs will be created and 43 existing jobs will be retained.
Three communities will benefit from the Roadwork Development Grant, also known as the 629 program.
The Village of Bluffton will receive $1.22 million for public roadwork improvements in support of the GROB Systems, Inc., project in Hancock County. The proposed roadwork consists of constructing a single-lane roundabout on State Route 103 at the intersection with Navajo Drive and the reconstruction of Navajo Drive from State Route 103 moving south and then west to the intersection with Pocono Drive. As a result of the project and state assistance, 200 full-time equivalent jobs will be created, and 838 full-time equivalent jobs will be retained.
Dan Sheaffer is Director of Findlay-Hancock County Economic Development.
Annette Heslep is CFO of GROB Systems, “GROB Systems appreciates the support shown by Findlay Hancock County Economic Development. the Ohio Department of Development, Jobs Ohio and the Regional Growth Partnership. Their ability to facilitate not only the funding, but a partnership as well, has allowed GROB the opportunity to expand our facility here in Bluffton. We are pleased to continue the growth of our facility and our workforce here in the greater Bluffton area.”
The City of Brookville will receive $1.5 million for public roadwork improvements to assist the Dmax, Ltd. project in Montgomery County. The proposed roadwork involves the extension of West Campus Boulevard by 2,800 linear feet to the south boundary of the Brookville Retail & Industrial Campus. As a result of the project and state assistance, 814 full-time equivalent jobs will be retained.
The City of Columbiana will receive $1 million for public roadwork improvements in support of the S-P Company, Inc. project in Columbiana County. The proposed roadwork involves the reconstruction and widening of 2,350 linear feet of West Railroad Street from Columbiana-Lisbon Road to Main Street, and 625 linear feet of West Street from Union Street to West Railroad Street. West Railroad Street will be widened from 26 feet to 32 feet to allow for improved truck access. As a result of the project and state assistance, 14 full-time equivalent jobs will be created, and 167 full-time equivalent jobs will be retained. The Ohio Department of Development empowers communities to succeed by investing in Ohio’s people, places, and businesses. Learn more about our work at development.ohio.gov.