News Room

FOR IMMEDIATE RELEASE
May 29, 2007

Columbus, OH -- Lieutenant Governor Lee Fisher today announced that loans valued at more than $11 million have been recommended by the Development Financing Advisory Council to assist five companies and one community with economic development projects. The funds, which are pending State Controlling Board approval, are expected to retain 54 positions and create 253 jobs.

"These awards will provide access to resources for several research and development, high tech and manufacturing projects that represent great opportunities for business growth and job creation," said Lt. Governor Fisher, who also serves as the Director of the Ohio Department of Development. "We are pleased to assist these firms as they invest in our state and our people. The State of Ohio is committed to increasing its capacity to partner with businesses to ensure their growth and success."

OrthoHelix Surgical Designs, Inc. (OrthoHelix), located in Akron (Summit County), has been awarded a $1,177,500 Innovation Ohio Loan Fund Loan at an interest rate of eight and a half percent for a term of five years. The funds will be used to purchase testing equipment, and assist with software and engineering and intellectual property protection costs. OrthoHelix is a medical device company developing a comprehensive line of implants and instruments for use in foot/ankle and hand/wrist reconstructive surgery. The company’s objective is to become a market leader in the small bone fixation market by continuing to introduce new medical implants that offer a better solution for these injuries. OrthoHelix proposes to commercialize and distribute solutions to the market by financing testing equipment and surgical instruments and trays, as well as acquire intellectual property protection on its existing and new products. This more than $1.5 million project is expected to create 13 jobs and retain five positions at the project site within the first three years of the project's initial operation.

Yachiyo of America, Inc. (YOA), located in Columbus (Franklin County) has been awarded a $2 million Research & Development Investment Loan Fund Loan at an interest rate of two percent for a term of seven years. The funds will be used to construct a new research and development facility and acquire new machinery and equipment. YOA was founded in 1997 by Yachiyo Industry Co. Ltd. and is headquartered in Japan. YOA has operations in six North American locations, three in Ohio, and its business operations include an automobile assembly business, the development and production of automobile parts and the production of automobile service parts. The company proposes to purchase new machinery and equipment and construct a new 47,119 square-foot research and development facility located on 11 acres to support its product lines, including sunroofs, plastic fuel tanks and paint products. This more than $11.5 million project is expected to create 34 jobs and retain eight positions at the project site within the first three years of the project’s initial operation.

Prime Technology LLC (Prime), located in Miamisburg (Montgomery County), has been awarded a $1 million Research & Development Investment Loan Fund Loan at an interest rate of two percent for a term of seven years. The funds will be used to acquire new research and development machinery and equipment. Prime was established in 2005 and is a technology based venture established by NCR Corporation. Prime develops and implements anti-counterfeiting and security solutions and specializes in product authentication through nanotechnology. Prime infuses its technology, called LumID, into inks, paints, polymers or fabrics to provide securing product identification. Prime currently proposes to expand operations by establishing a research, development and manufacturing site in Miamisburg. The company will lease 10,000 square-feet of space in the Mound Advanced Technology Center and purchase new laboratory and testing machinery and equipment to support continued growth of its secure identification technology. This more than $2.2 million project is expected to create 28 jobs at the project site within the first three years of the project’s initial operation.

Rescentris, Inc., headquartered in Columbus, Ohio (Franklin County), has been awarded a $1.5 million Innovation Ohio Loan Fund Loan at an interest rate of eight and a three quarter percent for a term of five years. The Loan will be used to fund capital expenditures, including computer equipment, furniture and fixtures, and development costs for a new software product. Rescentris delivers information technology to improve the return on investment of research and development. The company has created a software solution that is an Electronic Lab Notebook for biology and life science companies called the Collaborative Electronic Research Framework (CERF). The CERF product enables increased R&D efficiency and improved recordkeeping for intellectual property protection as well as greater compliance with FDA and patent regulations. The company proposes to develop an enterprise software platform called E-CERF/ BRIDGE (Biomedical Research and Imaging in a Distributed Grid Environment) that will enhance the current CERF product to capture more of the multibillion-dollar lab informatics market. The new platform will allow customers to more quickly and easily search for and share images and other lab data, thus improving knowledge management. This more than $2.6 million project is expected to create 158 jobs at the project site within the first three years of the project’s initial operation.

Toledo-Lucas County Port Authority (TLCPA) has been awarded a $5,530,000 Ohio Enterprise Bond Fund Loan at an interest rate to be determined at closing. The funds will be used for the purchase of a building, an addition to the building and for the acquisition of machinery and equipment in support of Golden Heritage Foods, LLC (Heritage). Heritage is located in Van Wert (Van Wert County) and is a top honey producer with output of approximately 50 million pounds of the total 400 million pound annual United States market. Heritage proposes to purchase an existing building and invest in an addition that that building to support continued growth of the company’s core business. The TLCPA will lease project facilities and machinery and equipment to Heritage. The building is currently 100,000 square-feet and will be expanded by an additional 32,000 square-feet. The machinery and equipment to be purchased includes a new high speed mini-bottle specialty line, a new moderate speed flexible bottling line, new lines and tanks and pumps. This more than $6.1 million project is expected to create 20 jobs and retain 41 positions at the project site within the first three years of the project’s initial operation.

The Innovation Ohio Loan Fund (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. 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 Ohio Enterprise Bond Fund (OEBF) provides funding for land and building acquisition, construction, expansion or renovation, and equipment purchases for commercial or industrial projects between $1.5 million and $10 million.

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Media contacts: Melissa Ament at (614) 466-6619 or Maria Smith at (614) 466-2382