Hooven-Dayton Corporation awarded funding to expand
Tuesday, July 22, 2008
Hooven-Dayton Corporation has been awarded a $350,000 Minority Business Direct Loan to expand its operations from the State Controlling Board, said Ohio House Speaker John Husted in an announcement Monday July 21.
As a result, Hooven-Dayton, a manufacturer of labels and flexible packaging, can use the funding to purchase a new printing press. In a press release, it said the new printing press will help increase production, bring in new business and result in the creation of ten new, full-time jobs.
"Assisting our local businesses as they seek to grow is an important step toward supporting an environment that encourages economic investment and job creation," Husted said in the press release.
The Ohio Minority Direct Loan Program is part of the Ohio Department of Development and provides direct loans for businesses locating or expanding in the state that demonstrate they'll create new jobs for Ohio citizens, according to the Ohio Department of Development website. In addition, any operating entity is eligible for the Minority Business Loan, but must be certified by the State Equal Opportunity Coordinator as a Minority Business Enterprise.
It also was announced the State Controlling Board approved the release of $300,000 to Sinclair Community College to assist in the cost of installation of a new roof, which will cost $435,000. The remaining cost will be covered by local funds, according to the press release.
Ohio Department of Development also has been involved in the opening of a new small business development center at Edison Community College slated for Aug. 11 and in Ohio being recognized for its biotech strength through BioOhio.
Contact this reporter at clevingston@DaytonDailyNews.com.
