TAFT ANNOUNCES GRANTS TO BUSINESSES AND COMMUNITIES
State Assistance Will Help Create 652 Jobs for Ohioans

FOR IMMEDIATE RELEASE
February 23, 2004

Columbus, OH -- Governor Bob Taft today announced that $1.29 million in Business and Roadwork Development grants have been awarded to seven firms and one community. The grants were approved by the State Controlling Board, and are intended to assist in the growth and development of Ohio businesses and the creation and retention of jobs. These projects are expected to create 652 positions and retain 1,711 jobs over the next three years.

AmQuip Corporation, located in Cincinnati (Hamilton County), will receive a $150,000 Business Development (412) grant to expand operations. The firm is a leading provider of crane rentals and related services in the Northeastern United States. AmQuip owns and operates hundreds of cranes and leases them to contractors and companies to install at their operations. This project includes the expansion of the company’s facility to include a re-manufacturing component to its operation that will allow the company to take its equipment back from a lease, rework the equipment, and then lease it out again to another business. Ohio was in competition with Kentucky for this $3.2 million project, which is expected to create 150 jobs within the first three years of operation and retain 30 positions. Additionally, AmQuip has been awarded a Job Creation Tax Credit valued at $1.2 million and a $100,000 Ohio Investment in Training Program grant for this project.

Van Dorn Demag Corporation, located in Strongsville (Cuyahoga County), will receive a $500,000 Business Development grant to expand operations. Demag manufactures and supplies injection molding machinery. This project consists of the consolidation of manufacturing operations from South Carolina to the Strongsville facility. The company is implementing lean manufacturing and making significant infrastructure improvements to accommodate the consolidation of machinery and equipment. Ohio was in competition with South Carolina for this $5 million project, which is expected to create 25 jobs and retain 350 positions. Demag will also receive a $150,000 Ohio Investment in Training Program grant for this project.

Westside Industrial Retention and Expansion Network (WIRE-Net), located in Cleveland (Cuyahoga County), will receive a $150,000 Business Development grant to defray the costs associated with the site-grading activities to complete the necessary infrastructure improvements to the Walworth Run Industrial Park. WIRE-Net needs to grade eight-acres within the park to prepare sites for prospective tenants, and create a minimum of 250,000 square feet of new manufacturing space. WIRE-Net is a non-profit, membership organization devoted to the advancement of manufacturing on Cleveland’s west side. The $8.5 million project is expected to create 63 jobs and retain 87 positions.

Faurecia Exhaust Systems, Inc., located in Troy (Miami County), will receive a $200,000 Business Development grant to expand operations and purchase machinery and equipment. Faurecia designs and manufactures essential automotive components for companies around the world. The Troy facility specializes in producing hot end exhaust components for automobile exhaust systems. Faurecia has experienced increased market share in the U.S. and must expand to accommodate new contracts to supply the automotive industry. Ohio was in competition with Indiana, Kentucky and Michigan for this $18.6 million project, which is expected to create 145 jobs and retain 227 positions. Additionally, Faurecia has been awarded a $150,000 Ohio Investment in Training Program grant.

The Kroger Company, located in Cincinnati (Hamilton County), will receive a $150,000 Business Development grant to expand its downtown headquarters operation. Kroger is one of the nation’s largest grocery chains and is ranked #18 on the Fortune 500 list. The company operates, directly or through subsidiaries, 2,488 supermarkets, price impact and multi-department stores in 32 states. Ohio was in competition with Kentucky for this $5.8 million project, which is expected to create 150 jobs and retain 1,006 positions.

Avery Denison-Industrial Products Division, located in Brunswick (Medina County), will receive a $30,000 Business Development grant to purchase machinery and equipment. The company plans to relocate its screen-printing and manufacturing operations from Kansas to Brunswick. Avery Denison’s manufacturing line includes functional products including rings, automotive sound deadeners and die cut flocking. The $1.59 million project is expected to create 14 jobs and retain 11 positions. The company will also receive a $15,000 Ohio Investment in Training Program grant for this project.

Kolbus, located in Cleveland (Cuyahoga County), will receive a $20,000 Business Development grant to relocate its U.S. headquarters operation from New Jersey. Kolbus is a wholly owned subsidiary of Kolbus GmbH & Co., KG, a German Corporation that manufactures machines for the printing industry. Kolbus sells, installs and services this equipment for the graphic arts industry throughout North America. The company will lease 15,000 square feet of space to house its corporate offices, accounting and parts and services operations and will make several leasehold improvements. Ohio was in competition with Kentucky for this $1 million project, which is expected to create 25 jobs. Additionally, Kolbus has been awarded a Job Creation Tax Credit valued at $99,929 and a $25,000 Ohio Investment in Training Program grant for this project.

Reed Elsevier, dba Lexis Nexis, located in Springfield (Clark County), will benefit from a $96,000 Roadwork Development grant that has been awarded to the City of Springfield. The funds will be used to construct a 470 linear-foot extension to Benjamin Street, within the PrimeOhio Industrial Park. LexisNexis is a global leader in comprehensive and authoritative legal, news and business information and tailored applications. The company plans to construct a 60,000 square-foot facility to expand its research and development operation, host key online products for Reed Elsevier companies and provide data management services. Ohio was in competition with Indiana and Kentucky for this $39 million project, which is expected to create 80 jobs within the first three years of operation. LexisNexis has also been awarded a Job Creation Tax Credit valued at $1.5 million and an $80,000 Ohio Investment in Training Program grant for this project.

The Business Development Account (412) is a grant program to assist companies and communities that are creating or retaining jobs with the necessary infrastructure improvements needed to ensure a project moves forward. The Roadwork Development Account (629) provides grant assistance to communities for highway and road projects related to job creation and retention. The 629 Program is funded with gas tax dollars and is restricted to public road projects only. Funding through both projects is contingent upon State Controlling Board approval.