Regional Business Digest

state

Brilex to get $500,000 low-interest loan

COLUMBUS — The state Controlling Board, without comment, approved a low-interest loan for a company planning an expansion in Youngstown. The Ohio Development Financing Advisory Council signed off on the $500,000 incentive for Brilex Industries Inc. through its 166 Direct Loan Program. The 10-year loan would carry an interest rate of 4 percent and would be used by the company to buy machinery and equipment. The funds would go toward a $1.6 million expansion that would create four jobs, retain 10 and maintain another 114, according to the Ohio Department of Development. Youngstown-based Brilex designs and produces equipment used in manufacturing facilities.

NATION

Cobalt price rises

DETROIT — The average selling price for the Chevrolet Cobalt has risen $775 since mid-April to $14,294, an official told Automotive News. Brian Brown, Chevrolet’s marketing manager, told the industry magazine that strong demand has created a lower supply of Cobalts, which has allowed dealers to raise prices. The Cobalt is produced at General Motors’ Lordstown complex.

GM recalls HHRs

WASHINGTON — General Motors Corp. has recalled 314,048 Chevrolet HHR sport utility vehicles to fix a storage bin door that failed to remain closed during government testing, the automaker said Monday. The National Highway Traffic Safety Administration said on its Web site the recall involved 296,422 HHR SUVs in the United States from the 2006-08 model years.

From Vindicator staff and wire reports