State to invest more than $3.6M to improve communities, bolster businesses

Published 12:00 am Tuesday, December 26, 2023

COLUMBUS — The Ohio Department of Development today announced the release of more than $3.6 million to support community enhancement projects and business growth.

During its Monday meeting, the Ohio Controlling Board approved the release of nearly $3 million that will benefit three localities and more than $600,000 through the Regional 166 Direct Loan program.

“The millions of dollars we’re investing into construction and cleanup projects will impact these communities for years to come,” said Lydia Mihalik, director of the Department of Development. “Partnering with businesses is another practical way we can support economic growth and job creation across Ohio.”

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Through the Rural Industrial Park Loan program, Delano Industrial LLC will receive $2.5 million to assist in financing the construction of a 50,000-square-foot speculative commercial building, site preparation, and infrastructure improvements necessary for the commercial development of 87.3 acres in Chillicothe. The project, which has a total cost of more than $4.6 million, is expected to create at least 40 full-time equivalent jobs.

The cities of Troy and Defiance will benefit from the Abandoned Gas Station Cleanup Grant, which provides funding to assess and clean up underground storage tanks with documented petroleum releases.

The City of Troy will receive $250,000 for Ducky’s Remediation Project at 100 W. Market St. Project work will include underground storage tank (UST) removal, closure reporting, interim response actions and remedial plan, and site remediation.

The Defiance County Land Reutilization Corporation will receive $205,690 for a project at Sinclair Gas Station at 875 S. Clinton St., which will include UST removal and sampling, and remediation and cleanup.

The Regional 166 Direct Loan Program provides low-interest loans to businesses with limited access to capital from private funding sources. Cheshire Holdings, LLC, will receive $410,000 through the program, and Moore Industries, Inc., will receive $255,600.

Cheshire Holdings, LLC, is a real estate holding company that will receive the loan to assist in financing the construction of a 10,040-square-foot commercial building at 4482 Crystal Parkway in Kent. The project, totaling $1.185 million, will create 10 new full-time equivalent jobs and retain 30 existing jobs.

Moore Industries, Inc., is a plastic injection molding manufacturing company. Its loan will assist in financing the purchase of a new LS MtronWIZ-1700 Plus Two-Platen injection molding machine at 1317 Hendricks Dr. in Montpelier. The project, which costs $639,000, will create one new full-time equivalent job and retain 100 existing jobs.