Press Room >> 2009 Press Releases For immediate release GOVERNOR, BARBASH ANNOUNCE STATE JOB STIMULUS PLAN LOGISTICS AND DISTRIBUTION INVESTMENTS Airborne Maintenance and Engineering Services, Inc. (AMES), located in City of Wilmington (Clinton County), has been awarded a $600,000 166 Direct Loan at an interest rate of 1 percent for a five-year term. AMES is to be an alternative and viable business operation created in response to DHL’s cessation of domestic operations at the Wilmington Air Park. The company will offer a full suite of maintenance, repair, and overhaul (MRO) services, with capabilities including engineering and manufacturing, heavy maintenance checks, component repair, and other related functions. This $2.2 million project is expected to create 430 positions. Clear Saleing, Inc., located in the City of Columbus (Franklin County), has been awarded a $502,500 Innovation Ohio Loan Fund at a rate of 1 percent for the first year, then 6 percent for the remainder of the six-year term. The loan is for software development costs at its facility in the City of Columbus. Clear Saleing is a software company that provides monitoring applications to companies engaged in online advertising. This $670,000 project is expected to create 60 jobs and retain 14 positions. Whitehall, Inc., located in City of Springboro (Warren County), has been awarded a $900,000 166 Direct Loan at an interest rate of 1 percent for the first year and 2 percent for the remainder of the 10-year term. The loan is to be used for the purchase of machinery and equipment and construction costs at its facility in Springboro. Whitehall, more commonly known as Klosterman Baking Company, is one of the largest family-owned bakeries in the Midwest, producing more than 400 varieties of baked goods. This $1.4 million project is expected to create 10 positions and retain 42 jobs. The Development Financing Advisory Council approves all low interest, long term, fixed asset loans for companies considering expanding in or relocating to Ohio. # # # Media contacts: Robert Grevey at (614) 466-6619
March 30, 2009
Additional Economic Development Projects to Generate New Investments and Jobs
COLUMBUS – Ohio Governor Ted Strickland and Mark Barbash, Interim Director of the Ohio Department of Development, today announced that loans valued at nearly $18 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 create 574 positions and retain 356 jobs, and include awards from the Logistics and Distribution component of the Ohio Bipartisan Job Stimulus Plan.
“Like the federal transportation stimulus projects announced last week, these projects build upon Ohio's logistical strengths, enhancing our infrastructure and creating good jobs for Ohioans,” Strickland said. “Strategically investing in growth industries like logistics and distribution will boost today's economy and position Ohio for sustainable growth after the recovery."
“Ohio’s transportation and logistics firms are part of a growing distribution network vital to the commerce of our nation,” Barbash said. “Ensuring maximum multimodal connectivity will invigorate our regional economies and expand both overall and individual prosperity for Ohioans.”
Two projects relating to the Ohio Bipartisan Job Stimulus Plan were approved:
The Franklin County Engineer has been awarded a $7 million Logistics and Distribution Stimulus loan. The loan may be forgiven upon attainment of project specific terms. The loan is in support of the reconfiguration of the I-270/Alum Creek Drive interchange and the Alum Creek Drive/Groveport Road intersection in the Village of Obetz (Franklin County). This $13.5 million project is expected to create 44 construction jobs in the construction phase of the project.
The City of Franklin has been awarded a $1.6 million Logistics and Distribution Stimulus loan. The loan may be forgiven upon attainment of project specific terms. The loan is for the acquisition of capital equipment and facility renovations in support of a project in the City of Franklin (Warren County). The Franklin Yards project will allow businesses throughout Southwest Ohio to compete and capture business growth as a result of new freight options in the region. This $2.3 million project is expected to create five jobs in the construction phase of the project and create 10 permanent positions after the project’s completion.
The Development Financing Advisory Council also approved financing for additional expansion projects:
Stratacache, Inc., located in the City of Dayton (Montgomery County), has been awarded a $585,000 166 Direct Loan for a 10-year term at an interest rate of 3 percent. The loan is in support of the company’s new corporate headquarters acquisition. Stratacache, established in 1999 and based in Dayton, is the world leader in efficient, scalabe and cost-effective content and digital distribution and presentation solutions for highly distributed organizations, with 2,000 customers worldwide. This $1.9 million project is expected to create 15 positions and retain 14 jobs.
State Industrial Products Corporation, located in the City of Cleveland (Cuyahoga County), will receive the proceeds of a $4.8 million 166 Direct Loan with a 15-year term at an interest rate of 1 percent for the first seven years and 3 percent for years eight through 15. The loan will be used in support of eligible project costs, which includes new construction, acquisition of machinery and equipment, and existing building improvements. State Industrial Products is a leading manufacturer and distributor of specialty chemical products for the cleaning and maintenance market. This $9.2 million project is expected to retain 246 jobs.
Steel Warehouse of Ohio LLC, to be located in the City of Cleveland (Cuyahoga County), has been awarded a $2 million 166 Direct Loan at an interest rate of 3 percent for a 15-year term. The loan is to be used for construction of a new facility to be located in the City of Cleveland. With the establishment of this facility, Steel Warehouse will provide processing services for production-ready steel to metal stampers, fabricators, and manufacturers. This $18.5 million project is expected to retain 40 jobs.
The Logistics and Distribution Stimulus Loan assists in the creation of a seamless multimodal transportation infrastructure across the state as part of the Ohio Bipartisan Job Stimulus Plan. The 166 Direct Loan program provides loans for land and building acquisition, expansion or renovation, and equipment purchase. The 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.
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