- Hello Customer - Log in or Register!
Department of Development Helping to Create Jobs in Morgan County
The Ohio Department of Development is doing its part to help one Morgan County company expand and another to get rolling.
The State Controlling Board approved a $30,000 grant this week for Miba Bearings US in McConnelsville to help with an expansion project at its manufacturing campus along Ohio 60, according to Ohio Department of Development spokesperson Melissa Ament.
The Rapid Outreach Grant, in conjunction with a commitment from the company to invest a total of $9 million in machinery, equipment and a building expansion, will help retain 260 full-time jobs and create 30 jobs with an average wage of $16.70 an hour, within the first three years of the project.
Ohio was in competition primarily with a Miba site in Sterling Heights, Mich. for the project, said Jeff Shaner, economic development specialist with OSU Extension in Morgan County. Sites in Austria and China were also considered, according to documents filed with the Controlling Board.
U.S. Rep. Zack Space said he had "very productive" talks with Miba officials and talked to the Governor's Office of Appalachia, Gov. Ted Strickland and other officials to see what he could do to help keep the company in McConnelsville.
According to documents filed with the Controlling Board, Miba will invest $1 million at the site, while continuing to lease the 130,000-square-foot site from the Morgan Community Improvement Corp. and adding another 120,000-square-feet.
Shaner said the expansion would occur in the old Gould piece of the manufacturing campus and Miba will be making bearings for semitrucks, a departure from the heavy bearings business which provided products for use in locomotives and steamships.
The Ohio Tax Credit Authority previously approved a 50 percent, seven-year job creation tax credit for the project, and the Morgan CIC committed to discounting Miba's current lease.
A $750,000, low-interest loan for ABC Manufacturing Inc. in Malta to help pay for equipment and machinery was also approved by the Controlling Board this week, Ament said.The Pioneer Rural Loan will be extended at 2 percent interest for three years and 3 percent interest for the remaining four years of the seven-year loan term.
The Department of Development will hold first lien on the equipment and machinery during the life of the loan, according to the ODOD recommendation filed with the Controlling Board. The Development Financing Advisory Council gave their approval of the loan on a 7-0 vote Jan. 28.
The loan, along with private equity, a previously-approved Rapid Outreach grant of $250,000 and $35,894 grant from the Appalachian Regional Commission will help create 200 full-time jobs and retain 30 existing positions at the Morgan Partnership Growth Complex.In addition, with the help of Space, the company was awarded a 55 percent tax credit over six years, which will allow for the hiring.
And a $500,000 grant from the Small Cities Community Development Block Grant Economic Development program would also help ABC establish operations there.ABC makes metal parts and assembles conveyor systems for use in the material handling and mail sorting industries.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| BR117 bearing | |||
| BR115 bearing |