A state research loan will assist in the creation of ten roles and keep another 567 at PolyOne Company , according to the Ohio Dept of Development.The Dept.'s Development Financing Advisory Council advised the seven-year loan for the Avon Lake-based chemical and polymer company.
"These companies are chasing cutting edge projects that may advance our state and keep Ohioans working, " Ohio Gov. Ted Strickland declared.
The loan of $2.2 million will pay for machinery and apparatus and will support the restoration of a facility about seven thousand sq. feet in size.The total project cost is conjectured at $4.4 million.
"we're happy we've gotten support in Avon Lake, the area community, as well as the state, for our attempts to create roles in the community, " PolyOne spokesman Amanda Marko expounded.
The loan was one of 8 around Ohio totaling $18.9 million. The loans, which required approval by the state Controlling Board, are predicted to leverage just about $37 million in capital investment, create 313 positions and keep 682 roles.
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