State Investing Nearly $6.4 Million to Strengthen Businesses, Transform Communities

(COLUMBUS, Ohio) - The Ohio Department of Development today announced the release of nearly $6.4 million through four state-funded programs designed to support community enhancement and fuel business growth.

Six projects will be funded through the Regional 166 Direct Loan Program, with two communities benefiting from Abandoned Gas Station Cleanup Grants, one community receiving a Roadwork Development Grant, and one community benefiting from the Rural Industrial Park Loan program.

RURAL INDUSTRIAL PARK LOAN

The Rural Industrial Park Loan Program promotes economic development by providing low-interest direct loans to eligible applicants for financing the development and improvement of industrial parks and related off-site public infrastructure improvements.

The Athens County Port Authority will receive $1,323,600 to assist in financing the construction of a 60,000-square-foot speculative manufacturing facility and related infrastructure improvements on an 8.818-acre site within the 45-acre Bill Thiesen Industrial Park located at 5885 Industrial Park in Athens (Athens County). The Athens County Port Authority is proposing to invest $9,234,800 for needed expansion space to accommodate companies graduating from the Ohio University Innovation Center, facilitating new economic development and job creation opportunities. The project, estimated to cost more than $9.2 million, will create at least 100 full-time-equivalent jobs at the project site.

For more information about how to apply and to find out if a project is eligible, visit the Rural Industrial Park Loan Program page.

ABANDONED GAS STATION CLEANUP

The Abandoned Gas Station Cleanup program was created to provide funding support for the assessment and cleanup of underground storage tanks with documented petroleum releases.

The City of Columbiana (Columbiana County) will receive $96,295 for cleanup activities or remediation of a gas station at 31 East Park in Columbiana. Rick Feezle, a local developer, is planning to renovate the existing building for commercial use.

The City of Loveland (Clermont County) will receive $68,374.08 for cleanup activities of a gas station located at 106 West Loveland Avenue in Loveland. The site area is to be used as a green space and picnic area.

REGIONAL 166 DIRECT LOAN

The Regional 166 Direct Loan Program promotes economic development, and job creation and retention, by providing low-interest loans to businesses with limited access to adequate capital from private funding sources.

Industrial Recyclers, LLC will receive $1 million to assist in financing the purchase and installation of new equipment at 2640 Campbell Road in Sidney (Shelby County). Industrial Recyclers, LLC, is a recycling company specializing in paper, plastics, wood, e-waste, metal, and other materials. The project, estimated to cost $1.34 million, will create 15 new full-time-equivalent jobs and retain 36 existing jobs at the project site.

Nihart Real Estate, LLC will receive $1 million to assist in financing the construction of a 47,070-square-foot industrial warehouse at 701 Brunicardi Way in Bryan (Williams County). Nihart Real Estate, LLC is a real estate holding company formed to hold the project real estate and lease the same to the operating company, Doc's Diesel, LLC, and Doc's Filters, Inc., which sells aftermarket diesel replacement filters for diesel trucks including engine, fuel, oil, and cabin filters. The project, estimated to cost nearly $5.5 million, will create six new full-time-equivalent jobs and retain 15 existing jobs at the project site.

MFW Properties, LLC will receive $728,475 to assist in financing the construction of a 9,860-square-foot facility at 375 Sharts Drive in Springboro (Warren County). MFW Properties, LLC is a real estate holding company formed to hold the project real estate and lease the same to the operating company Trifecta Tool and Engineering, LLC, which specializes in custom machining, injection mold design, long-term mold service maintenance, and 3D contour milling. The project, estimated to cost $971,300, will create five new full-time-equivalent jobs and retain 11 existing jobs at the project site.

Bay Holdings, LLC will receive $720,000 to assist in financing the purchase of an 18,840-square-foot industrial property at 4170 Pearl Road in Medina (Medina County). Bay Holdings, LLC is a real estate holding company that will hold the project real estate and lease the same to the operating company, North Bay Construction, Inc., which specializes in mechanical, civil, and electrical engineering and general contracting services. The project, estimated to cost $1.8 million, will create two new full-time-equivalent jobs and retain 29 existing jobs at the project site.

Cut-Rite Manufacturing, LLC will receive $520,000 to assist in financing the construction of a 21,320-square-foot production facility at 1789 State Route 119 in Fort Recovery (Mercer County). Cut-Rite Manufacturing, LLC is a machine shop specializing in waterjet services to the agriculture, automotive, and machine shop industries. The project, estimated to cost more than $1.9 million, will create four new full-time-equivalent jobs and retain four existing jobs at the project site.

Cut-Rite Manufacturing, LLC will also receive $480,000 to assist in financing the purchase and installation of equipment, computer system, chiller, and pump at 1789 State Route 119 in Fort Recovery (Mercer County). The project is estimated to cost $649,750.

For more information about how to apply and to find out if a project is eligible, go to the Regional 166 Direct Loan Program page.

ROADWORK DEVELOPMENT GRANT

The Roadwork Development Grant 629 program provides funding to local jurisdictions with an economic development project to assist with eligible public roadwork improvements. It also aids employers in creating or preserving employment opportunities.

The City of Fairfield (Butler County) will receive $450,000 in support of the Hit Promotional Products, Inc. project. The roadwork will consist of the realignment of approximately 550 linear feet of Seward Road. Additionally, a left turn lane measuring approximately 165 linear feet will be created on northbound Seward Road to accommodate traffic into the Hit Promotional Products, Inc. site. The project is expected to create 100 full-time-equivalent jobs and retain 237 jobs.

For more information about how to apply and to find out if a project is eligible, visit the Roadwork Development Grant (629) program page.

The Ohio Department of Development empowers communities to succeed by investing in Ohio's people, places, and businesses. Learn more about our work at https://development.ohio.gov/.

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