The Ohio Development Financing Advisory Council (DFAC) recently approved loans and bonds totaling more than $30 million for 15 economic development projects. The loans, which are pending State Controlling Board approval, are expected to create 1,551 jobs and retain 726 positions.

AddisonMcKee, Inc. (McKee), located in Lebanon (Warren County), will receive a $400,000 166 Direct Loan through the Ohio Automotive Zero Percent Financing Initiative at an interest rate of zero percent for years one and two and three percent for the remainder of the ten-year term of the loan, for costs associated with the acquisition of machinery and equipment.

McKee is a manufacturer of tools for bend tubing for both horizontal and vertical benders as well as end-forming tools. McKee is now an industry leader in producing and tooling solutions for bend and form tubing as well as for the design and production of bending and end-forming tools. This more than $800,000 project is expected to create eight jobs and retain 126 positions at the project site within the first three years of the project's initial operation.

Beaver Paper & Packaging, Inc. (Beaver Paper), located in Marion (Marion County), will receive a $1 million 166 Direct Loan at an interest rate of three and a half percent for a 15-year term for costs associated with the acquisition of machinery and equipment, relocation and expansion of its headquarters operations, and on-site infrastructure improvements. Beaver Paper was originally established in 1975 to broker fine paper grades to major consumers and evolved to a grade developer and worldwide market of specialty papers after relocating to Atlanta, Georgia in 1979.

The company proposes to relocate and expand its headquarters, including management, sales, product development, administrative, manufacturing and warehousing and distribution activities from its current Georgia location. Beaver Paper will purchase and renovate a 150,000 square-foot facility situated on a 12.5-acre site, purchase new machinery and equipment and undertake necessary on-site infrastructure improvements. This more than $2.6 million project is expected to create 44 jobs at the project site within the first three years of the project's initial operation.

Bluespring Software, Inc. (Bluespring), located in Cincinnati (Hamilton County), will receive a $1,353,075 Innovation Ohio Loan Fund loan at an interest rate of eight and one quarter percent for a five year term for costs associated with the development of software and the purchase of computer hardware and software. Bluespring is a people-centric Business Process Management (BPM) software company founded in 1997.

Bluespring proposes to make major software upgrades, including the development of software and the purchase of computer hardware and software, to stay current with Microsoft products, which is necessary for future growth of the company. This more than $1.8 million project is expected to create 35 jobs at the project site within the first three years of the project's initial operation.

Cobasys, LLC (Cobasys), which operates Ovonic Energy Products located in Springboro (Warren County), will receive a $5 million 166 Direct Loan at an interest rate of four percent for a seven year term for costs associated with the acquisition of machinery and equipment and the expansion of its Ohio existing facility. Cobasys is a joint venture between Chevron Technology Ventures, LLC (CTV), a subsidiary of Chevron Corporation and Ovonic Battery Company, Inc., a subsidiary of Energy Conversion Devices (ECD). The mission of the company is to develop and enhance the commercialization of energy storage systems utilizing nickel metal hydride batteries for transportation and stationary applications.

With this project, the company will purchase new research and development and manufacturing machinery and equipment. The expanded site will provide research, development manufacturing and assembly activities for the production of battery energy storage systems for new customers in the transportation and stationary markets. This more than $14.6 million project is expected to create 150 jobs and retain 94 positions at the project site within the first three years of the project's initial operation.

Construction Software Technologies, Inc. (CST), located in Cincinnati (Hamilton County), will receive a $2,205,000 Innovation Ohio Loan Fund loan at an interest rate of seven and one half percent for a six year term for costs associated with the acquisition of machinery and equipment, the development of software and improvements to the company's web architecture.

CST began in 1993 and principally provides access services to internet construction plan rooms and private construction offices for general contractors and subcontractors via its Web site. The internet plan rooms and construction offices streamline the distribution and communication process related to project bids, plans, specifications and addenda.

The company proposes to develop software, improve its web architecture and purchase equipment to better serve its customers and enable the company to maintain its market leadership position. This more than $2.9 million project is expected to create 65 jobs and retain 137 positions at the project site within the first three years of the project's initial operation.

Dayton Polymeric Products, Inc. (Dayton), located in Dayton (Montgomery County), will receive a $420,000 166 Direct Loan through the Ohio Automotive Zero Percent Financing Initiative at an interest rate of zero percent for years one and two and three percent for the remainder of the seven-year term of the loan for costs associated with the acquisition of machinery and equipment.

Dayton is a custom injection molder of urethane products for the automotive and industrial markets. The company's largest business segment is in the production of energy absorbing foams used for occupant safety in passenger vehicles and also produces noise abatement foams for the automotive industry.

Dayton proposes to purchase new machinery and equipment to be used in the production of products for the automotive industry. This $632,000 project is expected to create 60 jobs at the project site within the first three years of the project's initial operation.

Kenan Advantage Group, Inc. (KAG), located in Canton (Stark County), will receive a $2.5 million 166 Direct Loan at an interest rate of three percent for a 15-year term for costs associated with the acquisition and renovation of an office/warehouse building to house the company’s corporate headquarters.

KAG was founded in 1991 when Advantage Management Group and Kenan Transport merged to form the nation's largest provider of petroleum transport and logistics services. KAG has grown substantially over the last five years and since 2000, has expanded from 14 to 32 states and extended the company's infrastructure with six acquisitions and 17 private fleet conversions. The expansion has allowed the company to build the only independent national fuels delivery carrier in the industry.

The company proposes to expand its corporate headquarters to facilitate growth of the company's management, logistics and clerical operations. KAG will purchase and renovate an office/warehouse building for its new headquarters. This $5 million project is expected to create 65 jobs at the project site within the first three years of the project's initial operation.

Lawrence Economic Development Corporation (LEDC), located in South Point (Lawrence County), will receive a $500,000 Rural Industrial Park Loan at an interest rate of zero percent for years one through five and four percent for year six through fifteen and a $500,000 Rural Development Initiative Fund grant for costs associated with the construction of a speculative facility in the Point Industrial Park (Park).

The LEDC serves as the community improvement corporation for the Lawrence County and is the lead economic development agency in the area. The LEDC proposes to invest $1.4 million in the construction of a new 32,800 square-foot multi-tenant, speculative facility on a four acre parcel as part of ongoing development of the Park, which is owned and managed by the LEDC. The LEDC acquired the Park in 2003 and has continued to make improvements to its infrastructure and recruit key job creation projects to the Park over the past several years.

Mondo Polymer Technologies (Mondo), located in Marietta (Washington County), will receive a $750,000 166 Direct Loan at an interest rate of one percent for years one and two and four percent for years three through seven for a seven year term for costs associated with the expansion of its plastic recycling manufacturing facility.

Mondo was established in 1995, as a recycler of low-end films (polybags, shrink and stretch wraps, etc.) and became the first manufacturer of polymer guardrail offset blocks. The company proposes to purchase 29.9 acres of land and construct an 84,000 square-foot facility that will include expanded manufacturing space as well as larger and updated offices for administrative functions.

Mondo will also purchase new machinery and equipment, including plastic extruders and mixing and molding machines. This more than $5 million project is expected to create 30 jobs and retain 44 positions at the project site within the first three years of the project's initial operation.

NanoStatics LLC (NanoStatics), located in Circleville (Pickaway County), will receive a $742,500 Innovation Ohio Loan Fund loan at an interest rate of eight and one quarter percent for a seven year term for costs associated with the acquisition of machinery and equipment. NanoStatics was founded in 2005 around two nanoweb technologies; an advanced process that enhances filtration and barrier effectiveness, and a platform of material chemistries for creating nanowebs that have properties engineered for specific applications.

NanoStatics is currently leasing laboratory and office space and operates a pilot plant at TechColumbus in the Business Technology Center. The company proposes to purchase machinery and equipment to allow for increased production. This $991,000 project is expected to create 29 jobs at the project site within the first three years of the project's initial operation.

NineSigma, Inc. (NineSigma), located in Beachwood (Cuyahoga County), will receive a $805,875 Innovation Ohio Loan Fund loan at an interest rate of seven and one half percent for a six-year term for costs associated with the acquisition of computer hardware, equipment and software and the development of new software. NineSigma provides matchmaking services using the concept of Open Innovation, which leverages internal and external sources of ideas and takes them to market through multiple paths.

The company provides matches between those looking for technology (clients) and those who can provide it (solutions providers) using a web-based tool and a database of global solution providers called Managed Exchange (M:X). The company proposes to purchase computer hardware, equipment and software and invest in software development to upgrade its M:X process. The goal is to improve the function of M:X internal operations, including client tools and solution provider tools.

This more than $1 million project is expected to create 51 jobs at the project site within the first three years of the project's initial operation.

Skybus Airlines, Inc. (Skybus), located in Columbus (Franklin County), will receive a $5 million 166 Direct Loan at an interest rate of three percent for a seven-year term for costs associated with the acquisition of machinery and equipment.

Skybus was founded in 2006 and is a start-up, next generation low cost airline that will be based in Columbus. The company's headquarters and flight operations center will be located at the Port Columbus International Airport and Skybus anticipates beginning flight service toward the end of the first quarter in 2007.

Skybus will lease a 100,000 square-foot facility, 20,000 square-feet for office space and 80,000 square-feet for hanger facilities. This $10 million project is expected to create 869 jobs and retain 28 positions at the project site within the first three years of the project's initial operation.

US Aeroteam, Inc. (US Aeroteam), located in Dayton (Greene County), will receive a $1 million 166 Direct Loan at an interest rate of three percent for a 15-year term for costs associated with the acquisition of machinery and equipment and the relocation of its manufacturing facility.

US Aeroteam is a manufacturer of a range of fabricated and machined components and products designed for applications in the US aerospace industry. The company's customers include aircraft manufacturers and their sub-tier suppliers, such as jet engine manufacturers, aircraft subsystem producers, logistical support organizations for jet engines and aircraft and US government/military customers.

The company proposes to acquire new machinery and equipment and lease a 94,000 square-foot facility to allow the company to achieve efficiencies in the manufacturing of aerospace and auto parts. This more than $2.5 million project is expected to create 55 jobs and retain 40 positions at the project site within the first three years of the project's initial operation.

WCI Steel, Inc. (WCI Steel), located in Warren (Trumbull County), will receive a $5 million 166 Direct Loan at an interest rate of one percent for years one through three and three percent for years four through seven for a seven-year term for costs associated with the acquisition of machinery and equipment. WCI is an integrated, flat-rolled steel producer that was formed in March 2006. The company acquired all the assets of WCI Steel, Inc., an indirect subsidiary of the Renco Group, Inc., in May.

WCI proposes to purchase and install a new walking slab beam reheat furnace at its facility in Warren. This $30 million project is expected to retain 75 positions at the project site within the first three years of the project's initial operation.

Wrayco Industries, Inc. (Wrayco),

located in Stow (Summit County), will receive a $3.5 million 166 Direct Loan at an interest rate of one percent for the first year and three percent for the remainder of the ten-year term of the loan for costs associated with the acquisition of machinery and equipment.

Wrayco began in 1980 by producing made-to-print fabrications and in 1986 began supplying fuel tanks for the Peoria, Illinois Caterpillar plant. Today, the company continues to produce fuel tanks, as well as fenders and a variety of items for 15 Caterpillar plants nationwide. The company is currently developing a process to clean fuel and hydraulic tanks, which is necessary to prevent contamination of the tanks' contents.

The machinery and equipment investment will allow the company to expand and diversify its customer base while retaining the sales volume to its core business. This $10 million project is expected to create 90 jobs and retain 182 positions at the project site within the first three years of the project's initial operation.

The 166 Direct Loan program provides loans for land and building acquisition, expansion or renovation, and equipment purchase. The Innovation Ohio Loan Fund (IOF) assists existing Ohio companies develop next generation products in industry sectors that include: advanced materials; instrument, controls and electronics; power and propulsion; biosciences; and information technology. The Rural Industrial Park Loan program provides loans to rural, distressed local communities and other eligible applicants for real estate and infrastructure investments to develop well-planned industrial parks.

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