State Investing More Than $1.3 Million to Bolster Businesses, Support Community Enhancement
(COLUMBUS, Ohio) – The Ohio Department of Development today announced the release of more than $1.3 million through two state-funded programs that support community enhancement and fuel business growth.
Four projects will be funded through the Regional 166 Direct Loan Program, and one community will benefit from the Abandoned Gas Station Cleanup Grant.
REGIONAL 166 DIRECT LOAN
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.
SS Enterprises 419 LLC will receive $429,063 to assist in purchasing an industrial warehouse and financing improvements to build an additional 1,500 square feet to accommodate fabricating needs, storage of tools and equipment, and keeping employees together in one location at 8825 and 8837 Old Airport Highway in Holland (Lucas County). The property will be leased to Restoration Inc. LLC, a firm specializing in historic restoration and construction. The $572,085 project is expected to create six new full-time jobs.
Citiquest, LLC will receive $410,716 to assist in financing the purchase and renovation of a 7,560-square-foot office building at 43 South Huron Street in Toledo (Lucas County). Citiquest, LLC is a real estate holding company leasing the real estate to the operating company Polaris Logistics Group, Inc., a global logistics company founded in 2013. The project, estimated to cost a total of $1,026,790, will create four new full-time-equivalent jobs and retain 16 existing jobs at the project site.
Flohr Real Estate Investment Group, LLC will receive $350,000 to assist in financing the construction of a 6,000-square-foot industrial building located at 1028 Coventry Road in Barberton (Summit County). The property will be leased to Flohr Machine Company, Inc., a CNC turning and milling company specializing in high-volume aluminum, bronze, plastics, alloys, stainless steel, brass, extrusions, and steel turning and milling for a wide variety of industries. The project, estimated to cost a total of $470,000, will create 10 new full-time-equivalent jobs and retain 16 existing jobs at the project site.
Hale Performance Coatings, Inc. will receive $90,462 to assist in financing the purchase and installation of a new built-to-suit custom Automated Turning Center and Torch Traverse Machine located at 2284 Albion Street in Toledo (Lucas County). Hale Performance Coatings, Inc. is a high-quality plating and metal finishing company offering plating, coating, and surface treatments. The project, estimated to cost a total of $120,616, will create three new full-time-equivalent jobs and retain 85 existing jobs at the project site.
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.
ABANDONED GAS STATION CLEANUP GRANT
The Abandoned Gas Station Cleanup Grant provides funding to assess and clean up former gas and service stations with documented petroleum releases. Local government entities and land banks who own an eligible property or who have an agreement with the landowner may apply.
The Central Ohio Community Improvement Corporation will receive $73,756.83 for a project at the former Swims Grocery site at 5516 Norton Road in Grove City (Franklin County). The funding will be used for cleanup and assessment activities, including soil and groundwater sampling, and asphalt resurfacing. Although the end use for the property has not been decided, the re-development of the site would assist in turning the abandoned/vacant lot into a future business opportunity or community park.
For more information about how to apply and to find out if a project is eligible, go to the Abandoned Gas Station Cleanup Grant 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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