News Room

FOR IMMEDIATE RELEASE
February 6, 2007

Columbus, OH -- Lieutenant Governor Lee Fisher today announced that two communities will receive grants totaling $732,700 from the Ohio Small Cities Community Development Block Grant (CDBG) Economic Development Program. The funds will enable the communities to assist two companies that plan to make a combined investment of $4.7 million in business expansion projects, which are expected to retain 13 positions and create 110 jobs.

"Supporting business growth in Ohio's communities is vital in creating a strong and prosperous economy," said Lt. Governor Fisher, who also serves as state development director. "The State of Ohio is committed to supporting the economic development efforts of our communities by encouraging capital investments that are helping all regions of the state to compete for new investments that will create jobs for hard working Ohioans."

City of Fostoria, located in Hancock, Seneca and Wood Counties, has been awarded a $500,000 grant to assist Kiser Enterprises, Inc. to acquire and expand Machine Tool and Fabrication Corporation., Inc., a metal fabricating and diversified tool and die business that designs and builds automation equipment for the automotive, appliances food and medical industries. Machine Tool and Fabrication Corporation also manufactures roll-up fabric doors for the aeronautics industry. The $2.3 million project is expected to retain 13 positions and create 10 jobs.

Putnam County has been awarded a $232,700 grant to assist W.C. Wood Company, Inc., with an expansion project intended to consolidate its Canadian and Ottawa County operations and expand the business on Woodland Drive in Putnam County. The funds will be used to improve 5,280 linear feet of roadway and install four culverts along Road L-9. The street improvements were necessary to allow for an increase in traffic to the project site. The $3.1 million project will create 100 jobs.

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