FOR IMMEDIATE RELEASE
March 31, 2008

Columbus, OH -- Lieutenant Governor Lee Fisher today announced that loans valued at more than $19 million have been recommended by the Development Financing Advisory Council to support eight economic development projects. The funds, which are pending State Controlling Board approval, are expected to retain 238 positions and create 324 jobs.

"Long term strategic investments in businesses utilizing next generation technologies and processes will help build a more prosperous future for our communities across Ohio," said Lt. Governor Fisher, who also serves as the Director of the Ohio Department of Development. "We look forward to building partnerships with these innovative companies to strengthen Ohio's economic regions as centers of excellence and advancement."

Mountaineer Industries, LLC, located in Bellaire (Belmont County), has been awarded a $750,000 166 Direct Loan at an interest rate of three and one half percent for a ten year term to purchase machinery and equipment to add a new product line. Mountaineer Industries is a manufacturer of supplies used in the underground mining industry, including channel iron, which is used to hold wire mesh in place on the roofs of mines, special hooks used to hold mine cable in place, wall reinforcements, spikes used for hammering items into mine walls, and rail bonds that are used with high voltage rails in mines. The company has experience substantial growth and proposes to change certain production lines. With multiple lines, the company can idle certain lines when necessary, making it easier to produce heavier duty channel iron. Mountaineer Industries proposes to purchase new machinery and equipment that will allow for this reconfiguration. This more than $1.1 million investment is expected to create 25 positions and retain 14 jobs within the first three years of the project's initial operation.

Transfer Express, Inc., located in Mentor (Lake County), has been awarded a $1 million 166 Direct Loan an interest rate of three percent for a 20 year term, and a $6,630,000 Ohio Enterprise Bond Fund Loan for a 20 year term at an interest rate to be determined at closing. Headquartered in Mentor, Transfer Express manufactures custom, heat-applied, garment transfers known as Easy Prints. Transfer Express sells its Easy Prints to athletic apparel dealers, T-shirt retailers, and many other novelty apparel merchants. On March 31, 2004, Transfer Express became one of seventeen wholly owned subsidiaries of Groupe Stahl, a transaction that provided Transfer Express with access to the world wide market through Groupe Stahl's global subsidiaries in the garment decorating industry. The company proposes to acquire and renovate a 114,700 square foot building to satisfy its customer demand, improve processes and incorporate more products into its mix. This more than $8.4 million investment is expected to create 30 positions within the first three years of the project's initial operation.

TechniGraphic Systems, Inc., located in Wooster (Wayne County), has been awarded a $2 million 166 Direct Loan an interest rate of one percent for the first year and three percent for the remainder of the 16 year term, and a $4,240,000 Ohio Enterprise Bond Fund Loan for a 16 year term at an interest rate to be determined at closing. The funds will be used to construct a new building. TechniGraphics, Inc. began in 1993 after company principals acquired Technicolor Graphic Services from Johnson Controls and is a Visual Information Systems company that specializes in data conversion services. The company, currently headquartered in Wooster, assists the GIS industry in creating digital maps utilizing satellite and aerial imagery, paper maps and legal descriptions. The company proposes to construct a new 30,000 square foot headquarters facility that will mirror its current facility currently in Wooster built in 2005. The two facilities will be situated on separate parcels, connected by an all-weather umbilical. The new building will relieve overcrowding at the current headquarters. This more than $6.5 million investment is expected to create 150 positions and retain 167 jobs within the first three years of the project’s initial operation.

Zidian Manufacturing Incorporated, located in Boardman Township (Mahoning County), has been awarded a $648,000 Research & Development Investment Loan Fund loan an interest rate of three percent for a ten year term to relocate, expand and renovate an office complex. Zidian Manufacturing manufactures and distributes branded food products such as the Gia Russa Italian Food Products brand. The company was incorporated in Ohio in 2001 and in 2006 began doing business as Summer Garden Food Manufacturing. Between 2001 and 2006, the company added a research and development office, food safety laboratory and leased additional warehouse space. The company proposes to relocate and expand and renovate an office complex for an additional research and development product development center. The project will provide additional capabilities that will enhance the process of product conception through engineering research and development. This more than $1.4 million investment is expected to create 15 positions and retain 20 jobs within the first three years of the project's initial operation.

InsightETE Corporation (IEC), located in Columbus (Franklin County), has been awarded an $800,000 Innovation Ohio Loan Fund loan an interest rate of six percent for a six year term to purchase computer equipment and other machinery and equipment. IEC sells management and monitoring products to companies in a number of industries, including financial services, utilities and state government. IEC’s main product is a business application monitor that supports all applications and system platforms and is designed to measure and record the performance of end user transactions. Over the last three years, the company has enhanced its product from a data collection engine to a fully featured application performance system that addresses the needs of information technology departments and business units. IEC proposes to purchase machinery and equipment, primarily servers, and invest in software development in order to enhance its product to satisfy existing clients and expand sales outside of central Ohio. This more than $1.1 million investment is expected to create 20 positions and retain four jobs within the first three years of the project's initial operation.

Myriad Health, LLC, located in Bainbridge Township (Geauga County), has been awarded a $750,000 Innovation Ohio Loan Fund loan an interest rate of 6.25 percent for a five year term to purchase computer and office equipment and invest in capitalizable software development and intellectual property protection. Myriad Health provides Web-based, real-time claims management platform that integrates the claims adjudication process form the point of care at the provider's office through the payment of those same services. The company reduces total healthcare costs while improving the operating efficiency of third party administrators, providers, and payers. This $1.5 million investment is expected to create 15 positions and retain three jobs within the first three years of the project’s initial operation.

SageQuest I, LLC (SageQuest), located in Beachwood (Cuyahoga County), has been awarded a $1,504,294 Innovation Ohio Loan Fund loan an interest rate of 6.25 percent for a five year term to rebuild its information technology infrastructure so it can scale up its product and services for further rapid growth. SageQuest was founded in 2003 and provides real-time vehicle tracking services to help companies more successfully manage their fleets of local service and delivery vehicles and mobile workers using geographic positioning systems and telecommunications technology. This more than $2 million investment is expected to create 51 positions and retain 24 jobs within the first three years of the project’s initial operation.

Color Savvy Systems Limited, LLC, located in Springboro (Montgomery County), has been awarded a $967,500 Innovation Ohio Loan Fund loan an interest rate of 6.25 percent for a six year term to purchase tooling and invest in capitalizable software development and the acquisition of intellectual property. Color Savvy manufactures hardware and publishes software for color reproduction applications. The focus on the company is to provide customers with a complete range of hardware and software solutions that reduces the need for expensive trial and error color matching. Color Savvy's investment in the further development of its Color Helper product will allow for the expansion into larger markets. This more than $1.2 million investment is expected to create 18 positions and retain six jobs within the first three years of the project's initial operation.

The 166 Direct Loan program provides loans for land and building acquisition, expansion or renovation, and equipment purchase. The strong>Innovation Ohio Loan Fund 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 strong>Ohio Enterprise Bond Fund 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. The strong>Development Financing Advisory Council approves all low interest, long term, fixed asset loans for companies considering expanding in or relocating to Ohio.

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Media contacts: Melissa Ament at (614) 466-6619 or Kelly Schlissberg at (614) 466-4133