FOR IMMEDIATE RELEASE
May 22, 2008

Columbus, OH -- Lieutenant Governor Lee Fisher today announced that the Minority Development Financing Advisory Board has awarded a $350,000 Minority Business Direct Loan to Hooven-Dayton Corporation, a certified Ohio Minority Business Enterprise. The loan will enable the company to expand its business opportunities and create 10 positions.

"Hooven-Dayton Corporation is a longtime and valued Dayton company that continues to strive for new growth opportunities," said Fisher, who also serves as Director of the Ohio Department of Development. "Building upon the success of minority-owned firms like Hooven-Dayton, our State's Minority Business Enterprise Division is targeting growth in Ohio's minority business sector and developing new tools to strengthen opportunities available to minority business owners."

Hooven-Dayton Corporation manufactures labels, flexible packaging and narrow-web converting solutions for a variety of industries. The company was founded in 1935 in Dayton and is the first wholly owned subsidiary of Che International Group, a minority business enterprise owned 100 percent by Christopher Che. The company occupies two buildings totaling 40,000 square feet and has nine flexo narrow web presses, a digital press, a digital plate maker, and state-of-the-art prepress software. The seven-year Minority Business Direct Loan at an interest rate of three percent will support the purchase of a Nilpeter flexo printing press that will help to expand market share by increasing its screen printing, embossing, and cold foil stamping capabilities. The new equipment will also help fulfill a new $1 million contract.

The Ohio Department of Development's Minority Business Enterprise Division works to create a business environment in Ohio that assists in the growth and development of minority-owned businesses, working closely with minority, female, and small businesses to help them obtain financing, bonding, and contracts in the public and private sector. The division provides assistance through the Minority Contractors and Business Assistance Program, Management and Technical Services and Procurement Technical Assistance Centers.

The Minority Direct Loan Program provides low interest rate loans for the purchase or improvement of fixed assets to minority-owned businesses certified by the State, the Northern Ohio Minority Business Council, and the South Central Ohio Minority Business Council. The Minority Development Financing Advisory Board is charged with providing the Director of the Ohio Department of Development with recommendations for assistance through the Minority Business Direct Loan Program and the Minority Business Bonding Program.

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