Central Ohio Companies Receive State Funding to Spur Economic Growth

This week, the state announced awards for several Central Ohio companies to continue advancement of the region’s entrepreneurial ecosystem.  In total these programs are expected to create more than 440 new jobs while retaining more than 1700 in the region.  "Business creation and expansion drive economic development," said Mark D. Kvamme, director of the Ohio Department of Development.  "These incentives will strengthen our workforce while enabling businesses to create good paying-jobs that will help Ohioans in the long-term."

Central Ohio companies receiving funding include:

Adsorption Research, Inc. (Dublin, Franklin County) will receive $1 million, in collaboration with Rumpke Consolidated Companies, Civil and Environmental Consultants, Sauer, GSF Energy, Dublin Technical Systems, and Clean Fuels Ohio, for the project Upgrading Landfill Gas to Pipeline Quality Natural Gas via Pressure Swing Adsorption. This award is through the Ohio Third Frontier 2011Advanced Energy Program.  The project is developing a pressure swing adsorption technology to upgrade methane-rich landfill gas to a high Btu renewable gas suitable for commercial pipelines, compressed natural gas, or liquefied natural gas.

Algaeventure Systems, Inc. (Union County) has been awarded $1.5 million from the Research and Development Investment Loan Fund to be used to purchase machinery and equipment for the production of products.  Algaeventure Systems is a frontrunner in the algal industry as well as the filtration separation and water remediation industries, The $2.5 million project is expected to create 200 jobs and retain 20 positions.

Celartia, Ltd. will receive a $75,000 Rapid Outreach Grant for the costs associated with the acquisition of new machinery and equipment in support of the company's project in the City of Columbus (Franklin County). In addition, the company will develop an injection-molded, assembled, packaged, sterilized bioreactor. Celartia designs and manufactures laboratory equipment for cell culture, which is the science and art of growing human, animal, and plant cells in a laboratory environment. The $360,000 project is expected to create 19 jobs.

Diamond Innovations, Inc. has been awarded a 45 percent Job Creation Tax Credit for a seven-year term as a result of the company's new location in the City of Worthington (Franklin County). The value of the tax credit is estimated at more than $672,812 over the term, and the company would be required to maintain operations at the project site for 10 years. Diamond Innovations is the inventor and one of the world's leading suppliers of manufactured diamond, cubic boron nitride, and polycrystalline products serving the aerospace, automotive, construction, mining, electronics, oil and gas, and stone and woodworking markets. This more than $14.8 million project includes the purchase of machinery and equipment and is expected to create 40 jobs and retain 405 positions.

Fine Line Graphics Corp. has been awarded a 40 percent Job Creation Tax Credit for a five-year term as a result of the company relocating to the City of Columbus (Franklin County). The value of the tax credit is estimated at more than $68,736 over the term, and the company would be required to maintain operations at the project site for eight years. Fine Line Graphics is an automated printing, mailing, and fulfillment company, specializing in custom manufactured paper of varied weights and sizes. This project includes the purchase of machinery and equipment, building acquisition, and renovation improvements. The $4.9 million project is expected to create 25 jobs and retain 57 positions.

Iosil Energy Corporation (Franklin County) has been awarded $1.25 million from the Research and Development Investment Loan Fund. The loan will be used for the purchase of machinery and equipment that will produce solar grade polysilicon and to lease space for manufacturing and office needs. Founded in 2002, Iosil Energy is uniquely positioned in the solar photovoltaic industry with a breakthrough technology for the production of high-purity polysilicon. Iosil Energy manufactures polysilicon and offers a service to recover and re-use silicon waste from the wafer-sawing operations. The $5 million project is expected to create 20 jobs.

Momentive Performance Materials Holdings LLC has been awarded three 60 percent Job Creation Tax Credits for six-year terms as a result of the company's expansions in the City of Columbus and the City of Gahanna (Franklin County); Union Township (Licking County); and the City of Strongsville and the City of Richmond Heights (Cuyahoga County). The value of the three tax credits is estimated at $3.9 million over the term, and the company would be required to maintain operations at each project site for nine years. Momentive Performance is a producer of binder, adhesive, coating, and ink resins for industrial applications. The projects include building renovations, infrastructure improvements, and the purchase of machinery and equipment. The more than $11.2 million combined projects are expected to create 120 jobs and retain 780 positions.

Owens-Brockway Glass Container Inc. has been awarded a 50 percent Job Creation Tax Credit for a seven-year term as a result of the company's new project in the City of Zanesville (Muskingum County). The value of the tax credit is estimated at $213,500 over the term, and the company would be required to maintain operations at the project site for 10 years. Owens-Brockway produces glass containers for beer, wine, and non-alcoholic drinks in a range of sizes, shapes, and colors. This project includes establishing a pilot site to develop a new coatings procedure for its products, expanding its applied research in glass for both product and process innovation. The $9 million project is expected to create 16 jobs and retain 332 positions.

PercuVision LLC (Franklin County) has been awarded $1.4 million from the Innovation Ohio Loan Fund. The loan will enable the company to purchase medical equipment and protect intellectual property while supporting the creation of customer demonstration units. PercuVision developed a visual catheter that mitigates patient discomfort, pain, and injuries resulting in high-risk blind urinary catheterizations. The $1.9 million project is expected to create 14 jobs and retain 14 positions.

Stewart Ratcliff Aviation Services Inc. dba AircraftLogs (Franklin County) has been awarded $554,000 from the Innovation Ohio Loan Fund. The loan will assist in capitalizable software development costs supporting the enhancement of reporting and compliance software for the aviation industry. AircraftLogs provides internet-based aviation data management systems for corporate and private aircrafts, and recordkeeping support and services to corporate flight departments. The $740,500 project is expected to create 11 jobs and retain 53 positions.

Znode, Inc. (Delaware County) has been awarded $750,000 from the Innovation Ohio Loan Fund. The loan will assist in capitalizable software development costs to enhance the capabilities of the company's e-commerce software, resulting in additional user experience features, increased scalability, enhanced online franchising, improved reporting, and easy-to-deploy mobile features. Znode is an e-commerce consulting company and an e-commerce developer whose customers include some of the leading global brands. The more than $1 million project is expected to create 25 jobs and retain 40 positions.