X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TOLEDO, OH-Gov. Bob Taft has announced six economic development loans for the state, including a large project for a Toledo-based firm. The Development Financing Advisory Council has approved business loans totaling $16.6 million and bonds totaling $11.6 million for six economic development projects.

The loans and bonds, which are pending State Controlling Board approval, are expected to create 1,914 jobs and retain 2,594 positions.

Three northwestern Ohio communities were included in the loan process.

Braun Industries Inc., located in Van Wert, will receive a $592,500 loan at 3% interest for a 15-year term. The funds will be used as part of a $2.3-million purchase of the 75,620-sf that houses the company’s manufacturing and office facilities. Braun is a manufacturer of custom handcrafted ambulances and light rescue vehicles.

Heidtman Steel Processing Inc., headquartered in Toledo, will construct a 200,000-sf facility on a site adjacent to International Steel Group in Cleveland. The new $11.8 million facility will house the company’s steel processing and service centers. Cleveland-Cuyahoga County Port Authority will receive a $5.6-million bond from the Ohio Enterprise Bond Fund for a 10-year term. Once complete, the CCCPA will lease the facility to Heidtman Steel.

Global Body & Equipment, located in Wooster, will receive a $650,000 loan at 4% interest for a 10-year term. The company plans to spend $1.8 million to acquire the assets of CNC Metal Products and to use the facility to build specialty truck parts.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.