State Investing More Than $3.3 Million to Support Business Growth
(COLUMBUS, Ohio) – The Ohio Department of Development today announced the release of more than $3.3 million through a state-funded program dedicated to strengthening businesses.
Four companies will receive funding from the Regional 166 Direct Loan Program, which 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.
American Posts, LLC and Northwestern Holding, LLC will receive $1 million to assist in financing the purchase of a new ERWTech, 3.5-inch Tube Mill Line System at 805 Chicago Street in Toledo (Lucas County). American Posts, LLC, a subsidiary of Northwestern Holding, LLC, is a steel manufacturing company and the only remaining manufacturer of steel u-posts and wire for the lawn and garden industry in the U.S. The project, which is expected to cost a total of more than $2.7 million, will create six new full-time-equivalent jobs and retain 27 existing jobs at the project site.
Kripke Enterprises, Inc. will receive $1 million to assist in financing the purchase of a new Sierra T 510 Material Handler, grapple, and magnet at 8201 West Central Avenue in Toledo (Lucas County). Kripke Enterprises is a non-ferrous metal brokerage business specializing mainly in aluminum. The project, which is expected to cost a total of more than $1.3 million, will create three new full-time-equivalent jobs and retain 46 existing jobs at the project site.
Bee-Holding, Inc. will receive $680,000 to assist in financing the purchase and renovation of a 170,000-square-foot building at 1000 5 B’s Road in Zanesville (Muskingum County). Bee-Holding, Inc. is a family-owned business specializing in sewing, custom embroidery, patches, and screen-printing. The project, which is expected to cost a total of $1.7 million, will create 10 new full-time-equivalent jobs and retain 226 existing jobs at the project site.
WHK, LLC will receive $649,644 to assist in financing the purchase and renovation of a 10,020-square-foot building at 137 Commerce Drive in Loveland (Hamilton County). WHK, LLC is a real estate holding company that will own the project real estate and lease 51 percent of the project property to Martin J. Grunder, Jr., Inc., and 49 percent to six third-party lessors. Martin J. Grunder, Jr., Inc. is a full-range landscaping company that provides landscaping, hardscaping, and maintenance services for residential and commercial properties. The project, which is expected to cost a total of more than $1.6 million, will create 15 new full-time-equivalent jobs and retain 90 existing jobs at the project site.
Through the Regional 166 program, eligible projects include those related to industry, commerce and distribution, and research activities, with loans up to $1 million.
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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