CITY OF VAN WERT AWARDED $500,000 GRANT TO ASSIST PLASTICS RECYCLING TECHNOLOGY WITH EXPANSION PROJECT

FOR IMMEDIATE RELEASE
April 29, 2005

Columbus, OH -- Lieutenant Governor Bruce Johnson today announced that the City of Van Wert, in Van Wert County, will receive a $500,000 grant to assist Plastics Recycling Technology (PRTech), Inc. with an expansion project. The $2.1 million project is expected to create 30 jobs.

“This assistance will have a positive, economic impact on the City of Van Wert and will allow PRTech to go forward with its expansion,” said Johnson, who also serves as director of the Ohio Department of Development (ODOD). “The State is committed to providing assistance to Ohio communities so that companies can expand, providing good jobs for Ohio’s workforce.”

The grant will be awarded through the Ohio Small Cities Community Development Block Grant (CDBG) Economic Development Program, which is administered by the ODOD.

PRTech, located in Versailles (Darke County), recycles plastics for households and businesses. Due to an increase in customer demand, the company will lease a vacant facility in the City of Van Wert to expand operations and establish PRTech II. PRTech II will convert plastic films, buckets and bottles into pellets through an extrusion process and will sell the finished product to plastic products manufacturers. The CDBG funds will be granted to the city and loaned to the company to purchase machinery and equipment.

The CDBG Economic Development Program provides funding for economic development projects that create and/or retain permanent, private-sector job opportunities. The grants enable local governments to provide public improvements directly related to business development and financial assistance to private entities for economic development projects. Jobs created through the program must benefit primarily low- and moderate-income Ohioans.