Ohio Investing More Than $2.3 Million to Strengthen Businesses, Enhance Communities

(COLUMBUS, Ohio) - The Ohio Department of Development today announced the release of more than $2.3 million through a pair of impactful, state-funded programs designed to fuel business growth and build up communities.

Two communities will receive funding from the Roadwork Development Grant (629) program, and one company will receive financing through the Regional 166 Direct Loan program.

"Through the direct loan and 629 programs, we're ensuring that local businesses have the resources they need and that communities are flourishing," said Lydia Mihalik, director of the Department of Development. "Supporting this trio of projects will help these neighborhoods become more efficient, prosperous, and enjoyable places for their residents to live."

REGIONAL 166 DIRECT LOAN The Regional 166 Direct Loan Program promotes economic development, and job creation and retention, by providing low-interest loans to businesses with limited access to adequate capital from private funding sources.

Akron HT, LLC will receive $950,000 to assist in financing the purchase of a 53,631-square-foot industrial building at 336, 346, and 350 Morgan Avenue in Akron (Summit County). Akron HT, LLC is a real estate holding company that will own the property and lease 100 percent of it to Akron Steel Treating, Inc., which provides heat treating on manufactured parts that primarily service the aerospace, commercial, defense, food and beverage, hand tools, heavy equipment, medical devices, and residential roofing industries. The project, estimated to cost $1.9 million, will create six new full-time-equivalent jobs and retain 34 existing jobs at the project site.

ROADWORK DEVELOPMENT GRANT The Roadwork Development Grant (629) program provides funding to local jurisdictions with an economic development project to assist with eligible public roadwork improvements. It also aids employers in creating or preserving employment opportunities.

The Wood County Port Authority will receive $1 million in support of the Liames LLC project, covering up to 45 percent of total eligible roadwork costs at 12499 Middleton Pike in the city of Bowling Green (Wood County). The project consists of reconstructing approximately 1,330 linear feet of State Route 582. It will include the construction of a single-lane roundabout with an inscribed diameter of 150 feet to accommodate entry and exit to the Liames LLC site from State Route 582. The project also will include the creation of left- and right-turn lanes measuring 300 linear feet that will allow access to the site from State Route 25 to the west. The project will create 100 new full-time-equivalent jobs.

The city of Willard (Huron County) will receive $357,266 in support of the LSC Communications Book LLC project located at 1145 South Conwell Avenue. The project will consist of the reconstruction of approximately 4,895 linear feet of Theo Moll Drive and 1,023 linear feet of Neal Zick Road to accommodate the expansion of the LSC Communications Book LLC factory. The roadwork will allow for the safe transport of upgraded machinery for the expansion, along with improved access to the factory's loading docks of LSC Communications Book LLC, a commercial printing company. The project will create 100 full-time-equivalent jobs and retain 470 jobs.

The Ohio Department of Development empowers communities to succeed by investing in Ohio's people, places, and businesses. Learn more about our work at https://development.ohio.gov/.