Tuesday, August 23, 2016
Staff report
COLUMBUS
The state Controlling Board approved more than $400,000 in low-interest financing for two Mahoning County companies looking to expand Monday.
A total of $300,000 will go to Penn Ohio Sealing Co. in Struthers to assist with the purchase of land and new construction on Bridge Street.
The full-service asphalt - pavement maintenance company has proposed the purchase and renovation of a 42,098-square-foot commercial property as part of a $1 million-plus project, according to documents. The company would commit to creating eight jobs and retaining 35 as part of the state incentive.
Also Monday, lawmakers approved $112,500 through the same state loan program for Ply-Trim Enterprises Inc. in Youngstown, for new machinery and equipment at its North Meridian Road operation.
The lumber and building- products company has planned a $250,000 expansion that would create two jobs and retain 11 as part of the state incentive.