Press Room >> 2009 Press Releases For immediate release GOVERNOR, BARBASH ANNOUNCE STATE JOB STIMULUS PLAN COLUMBUS – Ohio Governor Ted Strickland and Mark Barbash, Interim Director of the Ohio Department of Development, today announced that loans valued at nearly $35 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 440 positions and retain 208 jobs, and include awards from the Logistics and Distribution component of the Ohio Bipartisan Job Stimulus Plan. Bluegrass Farms of Ohio, Inc. has been awarded a $7.5 million Logistics and Distribution Stimulus loan. The loan may be forgiven upon attainment of the project’s specific terms. The loan will support the purchase of machinery and equipment to develop the Central Ohio Logistics Center, an intermodal facility in the City of Jeffersonville (Fayette County). This $10 million project is expected to create 24 jobs in the construction phase of the project and create five permanent positions after the project’s completion. Lucas County Improvement Corporation has been awarded a $7.5 million Logistics and Distribution Stimulus loan. The loan may be forgiven upon attainment of the project’s specific terms. The loan is for the purchase and improvement of property and the acquisition of capital equipment in support of a project at Midwest Terminals at The Port of Toledo (Lucas County). The Midwest Terminals project will allow the Lucas County Improvement Corporation to invest in specific conveyor and material transfer systems enabling it to improve efficiencies through rapid freight loading and unloading and multimodal conveyor capabilities. This $10.7 million project is expected to create 16 jobs in the construction phase of the project and create 40 permanent positions after the project’s completion. 79th Street Associates, LLC has been awarded a $9.7 million Logistics and Distribution Stimulus loan. The loan may be forgiven upon attainment of the project’s specific terms. The loan is in support of the redevelopment of an industrial property into a logistics gateway in the City of Cleveland (Cuyahoga County). This $12.9 million project is expected to create 19 jobs in the construction phase of the project and create 45 permanent positions after the project’s completion. Wheeling & Lake Erie Railway Company has been awarded a $1.3 million Logistics and Distribution Stimulus loan. The loan may be forgiven upon attainment of the project’s specific terms. The loan is in support of the purchase of machinery and equipment for the construction of 7, 000 feet of passing siding on the Wheeling & Lake Erie Railway mainline located in the Village of Creston (Medina & Wayne counties). This $1.7 million project is expected to create 2 jobs in the construction phase. Cleveland-Cuyahoga County Port Authority has been awarded a $4.7 million Logistics and Distribution Stimulus loan. The loan may be forgiven upon attainment of the project’s specific terms. The loan is in support of the construction of a new manufacturing-warehouse facility, infrastructure and road improvements, slip reconfigurations, and the purchase of machinery and equipment. This $10.3 million project is expected to create 36 jobs in the construction phase of the project and create 105 permanent positions after the project’s completion. The Development Financing Advisory Council also approved financing for additional expansion projects: Hanover Marine, LLC, located in Painesville Township (Lake County), has been awarded a $2 million 166 Direct Loan at an interest rate of 1 percent for the first year, and 3 percent for the remainder of the 10-year term. The project consists of the purchase of machinery and equipment to be utilized in the manufacture of sail and powerboats. This $8.2 million project is expected to create 90 positions and retain a total of 123 jobs, 109 jobs at the facility in Painesville Township and 14 jobs at the facility in the City of Conneaut (Ashtabula County). QuanComm, Inc., located in the City of Columbus (Franklin County), has been awarded a $1.05 million 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 the purchase of information technology equipment and capitalizable software development costs. QuanComm, formed in 2003, has developed integrated operations, sales, membership management, and payment processing solutions for the health and fitness industry. This $1.4 million project is expected to create 24 jobs and retain six positions. Morgan Engineering Systems, Inc., located in the City of Alliance (Stark County), has been awarded a $1 million 166 Direct Loan at an interest rate of 3 percent for a seven-year term. The loan is to be used for the purchase of machinery and equipment and renovations to an existing facility. Morgan has a rich history dating back to 1868 and has grown to be a world leader in material handling systems for the metals industry. This $1.7 million project is expected to create 35 positions and retain 79 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. 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
April 27, 2009
LOGISTICS AND DISTRIBUTION INVESTMENTS
Additional Economic Development Projects to Generate New Investments and Jobs
“These projects build upon Ohio’s strength as a centrally located distribution hub, enhancing our state’s robust infrastructure while rapidly creating jobs for Ohioans,” Strickland said. “These strategic investments demonstrate a commitment to grow Ohio’s economy in the near-term, while remaining focused on creating lasting economic growth.”
“Ohio’s ports play an integral role to our state’s unparalleled access, attracting more than 1,000 international companies that maintain operations here,” Barbash said. “Support for Ohio’s unique natural strengths enhances connectivity and expands our leadership position in a growth industry with worldwide demand.”
Five projects from the Ohio Bipartisan Job Stimulus Plan were approved:
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