Rep. Clyde Announces State Funding For Kent Manufacturer
$235,000 low interest loan will help create and retain jobs in Portage County
August 17, 2015
 
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State Rep. Kathleen Clyde (D-Kent) announced today that the state has approved a low-interest loan of $235,000 to help retain and expand local manufacturing operations in Portage County. 


“This investment will help bolster local manufacturing in Portage County and create good-paying jobs,” Clyde said. “Manufacturing has strong roots in our community and targeted low-interest loans like these help maintain our commitment to industry and innovation in Portage County.”


Masters Precision Machining, which manufactures products for the aerospace, medical, gas, oil, and fire-fighting equipment industries, plans to use the loan to purchase the fixed assets of Kent-based J.B. Manufacturing. Masters Precision Machining has committed to retain eight jobs and to create five new jobs in Portage County as a condition of the state loan.


The state money was allocated through the Regional 166 Loan Program, which provides low interest loans to eligible businesses creating new jobs or preserving existing employment opportunities in Ohio. 


Rep. Clyde represents the 75th Ohio House District, serving Kent, Ravenna, Streetsboro, and central and southern Portage County.  

 
 
 
  
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