The Ohio Department of Development recently announced the release of more than $4.7 million through a pair of state-funded programs designed to transform communities and fuel business growth.
Two businesses will receive financing through the Regional 166 Direct Loan program, and four communities will benefit from the Roadwork Development Grant (629) program.
“These investments create jobs, represent opportunities to improve infrastructure, and lay the foundation for sustained growth as we build stronger communities across Ohio,” said Lydia Mihalik, the director of the Department of Development.
REGIONAL 166 DIRECT LOAN
The Regional 166 Direct Loan 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.
Two projects will benefit from this program.
Thomas Steel, Inc., and Thomas Equipment & Leasing, LLC will receive $755,000 to assist in financing the purchase of a new Peddibot-1200 machine at 221 Sheffield Street in Bellevue (Huron County). The project, which is expected to cost $1.2 million in total, will create three new full-time equivalent jobs and retain 48 existing jobs.
Real Leo, LLC, a newly formed real estate holding company, will receive $480,000 to assist in financing the purchase of a new 71,080-square-foot building at 815 Shawnee Road in Lima (Allen County). Real Leo, LLC will lease the project real estate to the operating company Better Brake Parts, Inc., which sources brake components and prepares brake kits to sell primarily to wholesalers and manufacturers. The project, which is expected to cost $1.2 million in total, will create eight new full-time equivalent jobs and retain 52 existing jobs.
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.
Four communities will receive funding through this program.
The Port Authority of Allen County will receive $2,236,050 in support of the Procter & Gamble Lima Distribution Center project in Bath Township (Allen County). The roadwork includes the construction of a single-lane roundabout with an inscribed diameter of 152 feet at the intersection of North Thayer Road and P&G Lima Distribution Center Drive. The proposed roundabout roadway will have a width of 20 feet, with entry and exit widths of 18 feet. The completed roadwork, which will accommodate increased traffic resulting from the expansion of the existing Procter & Gamble Lima Distribution Center, will support the creation of 135 new jobs.
The city of Sandusky (Erie County) will receive $842,262 in support of the Okamoto Sandusky Manufacturing, LLC project. The project includes reconstruction of Huron Street south of Monroe Street, along with the resurfacing of Edgewater Avenue from Venice Road to Monroe Street, and Monroe Street from Edgewater Avenue to Mills Creek. The resurfacing and reconstruction will accommodate the rising volume of truck traffic resulting from the expansion of the Okamoto Sandusky Manufacturing, LLC facility located at 3130 West Monroe Street. The project will support the creation of 10 new jobs and retain 133 jobs.
The Lawrence Economic Development Corporation will receive $299,445 in support of the Valencia Pipe Company project in the village of South Point (Lawrence County). The project will consist of the construction of a new roadway west of Commerce Drive to allow access to the rear of the Valencia Pipe Company facility at 340 Commerce Drive. The proposed roadway will measure 667 feet in length by 24 feet in width and will improve traffic flow to and from the Valencia Pipe Company facility. The project will support the creation of 35 new full-time equivalent jobs.
The city of Dover (Tuscarawas County) will receive $115,000 in support of the Schaeffler Transmission, LLC project. This is in addition to the release of $775,000 from the Department of Development previously approved by the Ohio Controlling Board on March 4, 2024. To assist the Schaeffler Transmission, LLC project, the proposed roadwork would involve reconstruction of 1,525 feet of Crown Road between Wooster Avenue and the RJ Corman Railroad Tracks to accommodate heavy truck traffic and allow for further site development. The project will support the creation of 650 full-time equivalent jobs and retain 1,622 jobs.
About the Ohio Department of Development
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/.
