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.

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