FOR IMMEDIATE RELEASE
April 24, 2006

Columbus, OH -- Governor Bob Taft today announced that the Development Financing Advisory Council (DFAC) has approved loans and bonds totaling more than $21 million for five economic development projects. The loans, which are pending State Controlling Board approval, are expected to create 695 jobs and retain 332 positions.

Dayton-Montgomery County Port Authority on behalf of Clopay Corporation, headquartered in Mason (Warren County), will receive a $7.79 million Ohio Enterprise Bond Fund loan at an interest rate to be determined at time of sale for a term of 15 years and a $5 million 166 Direct Loan at an interest rate of three percent for a term of 15 years. The more than $15 million project will include an investment of $9.5 million for the purchase of land and a building and $5.1 million for renovations to an existing facility located in Troy, Miami County. The facility will be used by Clopay Building Products, Inc., a subsidiary of Clopay Corporation, for the manufacture and distribution of residential and commercial garage doors and peripheral building products. Ohio is in competition with the states of Indiana, Washington, Arizona, Michigan, Pennsylvania, California, Illinois, Oregon, Florida, New York, and Wisconsin for this project, which is expected to create 400 jobs and retain 155 positions within the first three years of the project's initial operation.

Brush Wellman, located in Elmore (Ottawa County), will receive a $5 million Research and Development Investment loan at an interest rate of two percent for a 12-year term for the construction of a 100,000 to 150,000 square-foot research and development facility. Brush Wellman is a manufacturer of beryllium, beryllium oxide, beryllia ceramics and beryllium alloys for use in the aerospace, automotive, defense, telecommunications, electronics and high performance automation industries. The company, headquartered in Cleveland, is the only fully integrated producer of beryllium oxide in the world. Brush Wellman over 400 acres at the proposed project site and will construct a facility separate from its existing complex for the development of a new manufacturing process. Ohio is in competition with Utah for this more than $11 million project, which is expected to create 25 new jobs and retain 118 positions within the first three years of the project's initial operations.

Ovation Polymer Technology & Engineered Materials, Inc., located in Medina (Medina County), will receive a $1,125,000 Innovation Ohio Loan fund at an interest rate of seven percent for a seven-year term for the purchase of allowable machinery and equipment and intellectual property protection costs. Ovation specializes in the development and commercialization of new products in the areas of conductive polymers, nano-engineered materials, high-temperature materials, barrier materials and enhanced surface modified weatherable compounds. The company requires additional production capacity to manufacture conductive polymers and gas barrier polymers. The $1.5 million project is expected to create 24 new jobs and retain 18 positions within the first three years of the project's initial operation.

Leedsworld, Inc., to be located in Warren (Trumbull County), will receive a 166 Direct Loan in the amount of $2 million at an interest rate of one percent for a five-year term for the purchase of machinery and equipment. Leedsworld is a leading supplier in the promotional products and advertising specialty industry. The company customizes a complete line of corporate accessories, including bags, writing instruments, portfolios, insulated items and gift sets. Because the companys current location cannot accommodate its continued growth, Leedsworld proposes to lease a 256,000 square-foot facility for the customization of various products purchased from manufacturers. Ohio is in competition with Pennsylvania for this $4.4 million project, which is expected to create 241 new jobs within the first three years of the project's initial operation.

Fenner Dunlop (Toledo), LLC (Fenner), located in Toledo (Lucas County), will receive a $1 million 166 Direct Loan at an interest rate of three percent and a term of 15 years for the purchase of a building and machinery and equipment. Fenner manufactures conveyer belts, including piled fabric, solid woven fabric and steel cord belting. The project involves the purchase of a building in Toledo and the installation of a new double-deck, 10-meter curing press that will be utilized in the production of conveyer belting. The $3.1 million project is expected to create five new jobs and retain 41 positions within the first three years of the project's initial operation.

The Research and Development Loan Fund (R&D) targets large investments from companies involved in research and development projects with significant assets and sales, and assists in financing the acquisition, construction and related costs of technology, facilities and equipment. The 166 Direct Loan program provides loans for land and building acquisition, expansion or renovation, and equipment purchase. The Innovation Ohio Fund Loan (IOF) assists existing Ohio companies develop next generation products in industry sectors that include: advanced materials; instrument, controls and electronics; power and propulsion; biosciences; and information technology.