State Investing $1.3 Million to Enhance Communities, Support Businesses

(COLUMBUS, Ohio) - The Ohio Department of Development today announced the release of $1.3 million through two state-funded programs that will strengthen infrastructure and support business expansion.

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.

Joseph Family Partnership, LLC will receive $1 million to assist in the construction of a maintenance building with three service bays, a fabrication shop, a commercial warehouse, and a gravel parking lot for employee parking, and to assist in financing the purchase and installation of a new Wendt 5050 Hammermill shredder at 345 Arthur Street in Zanesville (Muskingum County). Joseph Family Partnership, LLC is a real estate holding company formed to hold the project real estate and lease the same to the operating company, Muskingum Iron & Metal Co., and Joseph Revocable Trust. Muskingum Iron & Metal Co. is a fourth-generation Ohio full-service scrap yard that specializes in the processing and recycling of ferrous and non-ferrous scrap metal. The project, estimated to cost $10.3 million, will create eight new full-time-equivalent jobs and retain 61 existing jobs.

For more information about how to apply and to find out if a project is eligible, go to the Regional 166 Direct Loan Program page.

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 City of North Ridgeville (Lorain County) will receive $300,000 in support of the Ruf US Inc. project. The roadwork will consist of the remediation and resurfacing of approximately 3,400 linear feet of Taylor Parkway, beginning at Bender Road and continuing west. The project will improve access to the Ruf Briquetting facility at 38778 Taylor Parkway and improve traffic safety in the corridor. The project, estimated to cost $532,925, will create 19 full-time-equivalent jobs and retain 11 existing jobs.

For more information about how to apply and to find out if a project is eligible, visit the Roadwork Development Grant (629) program page.

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