State Investing More Than $600,000 to Support Business Expansion Project

(COLUMBUS, Ohio) - As part of its ongoing effort to fuel small-business growth across the state, the Ohio Department of Development today announced the release of more than $600,000 through the Regional 166 Direct Loan program.

Team CCI Property Corp. will receive $637,500 through this impactful program to help in financing the purchase of a building that will create local jobs in Toledo (Lucas County) and increase business efficiency.

"We're dedicated to providing the resources companies across Ohio need to expand and grow," said Lydia Mihalik, director of the Department of Development. "Small businesses are the backbone of our state, and we know that when small businesses succeed, the entire state succeeds."

Through the Regional 166 program, the money provided to Team CCI Property Corp. will assist in financing the purchase of a four-story, 163,816 square-foot industrial/storage building located at 152 Hamilton Street in Toledo.

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

Eligible projects include those related to industry, commerce and distribution, and research activities, with loans up to $1 million. Priority may be given to eligible projects with higher wages and job creation commitments in a distressed area of the state. A special loan dollar-to-job ratio is not required.

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/.