Athens Set to Receive Part of Ohio Development Investment to Strengthen Businesses, Transform Communities

The Ohio Department of Development today announced the release of nearly $6.4 million through four state-funded programs designed to support community enhancement and fuel business growth.

Six projects will be funded through the Regional 166 Direct Loan Program, with two communities benefiting from Abandoned Gas Station Cleanup Grants, one community receiving a Roadwork Development Grant, and one community benefiting from the Rural Industrial Park Loan program. One of these six projects is located locally in Southeast Ohio.

RURAL INDUSTRIAL PARK LOAN

The Rural Industrial Park Loan Program promotes economic development by providing low-interest direct loans to eligible applicants for financing the development and improvement of industrial parks and related off-site public infrastructure improvements.

The Athens County Port Authority will receive $1,323,600 to assist in financing the construction of a 60,000-square-foot speculative manufacturing facility and related infrastructure improvements on an 8.818-acre site within the 45-acre Bill Thiesen Industrial Park located at 5885 Industrial Park in Athens (Athens County). The Athens County Port Authority is proposing to invest $9,234,800 for needed expansion space to accommodate companies graduating from the Ohio University Innovation Center, facilitating new economic development and job creation opportunities. The project, estimated to cost more than $9.2 million, will create at least 100 full-time-equivalent jobs at the project site.

For more information about how to apply and to find out if a project is eligible, visit the Rural Industrial Park Loan Program page.