Tuesday, January 12, 2010

Columbus Tech Repair Firm Cleared for State‏

Source: Business First Columbus, Jan. 11, 2010
The state Controlling Board on Monday signed off on a $50,000 grant aimed at helping a Columbus technology repair firm with an expansion that could create dozens of new jobs in the city.

The Rapid Outreach Grant is for OVCS Inc., a 10-year-old company that repairs and reconditions fiber optic equipment, digital converters and power supplies. OVCS told state officials it’s looking to buy new machinery and equipment valued at more than $184,000 for an expansion that could add 50 jobs to its 139-worker payroll in Columbus in the coming years.

The Ohio Department of Development first offered OVCS the grant this summer as it was eyeing sites in Arizona and Mexico. According to documents filed with the state, OVCS also has committed to set up a new service line that will allow the company to repair Samsung products from across the U.S. That would mean an investment of more than $500,000.

The Controlling Board on Monday also approved a $445,000 grant for road work tied to a project aimed at improving access to the main campus of J.M. Smucker Co. (NYSE:SJM) in Orrville, about 100 miles northeast of Columbus.

Meanwhile, the Development Department awarded nearly $600,000 from its Ohio Housing Trust Fund and Community Development Block Grant programs statewide. Organizations in and around Central Ohio to receive funding are:

• The Economic and Community Development Institute of Franklin County, which received a $58,300 grant to train 35 low- and moderate-income entrepreneurs interested in establishing or expanding a business. The funding also covers loans for 20 small businesses.

• The city of Zanesville, which was awarded a $38,300 grant that will help four businesses and 30 entrepreneurs.

• The Appalachian Center for Economic Networks of Athens County, which received a $58,300 grant to train 200 low- and moderate-income entrepreneurs. Eight businesses also will receive loans, the state said.


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