August 27, 2025, Press Release from the Ohio Department of Development:
COLUMBUS, Ohio – The Ohio Department of Development today announced the release of more than $2.5 million through the Regional 166 Direct Loan Program, which promotes economic development, and job creation and retention by providing low-interest loans to businesses with limited access to adequate capital from private funding sources.
Hoops Properties, Ltd. will receive $1 million to assist in financing the purchase of a 72,000-square-foot warehouse and office space on a 6.792-acre parcel at 1197 Grill Road in Van Wert (Van Wert County). Hoops Properties, Ltd. is a real estate holding company that is leasing the property to Universal Lettering, Inc., a custom embroidery company specializing in top-tier custom-sewn goods. The project, which has an approximate total cost of $4.2 million, will create 10 new full-time-equivalent jobs and retain 45 existing jobs.
Orick Stamping, Inc. will receive $1 million to assist in financing the purchase of four new Motoman Arcworld 6400 Ferris Wheel Mig-weld Cells at 614 East Kiracofe Avenue in Elida (Allen County). Orick Stamping, Inc. specializes in automotive metal stamping and welding assemblies as a tier II supplier and manufactures the anti-vibration components that go into drive train and suspension systems. The project, which has an approximate total cost of $2.5 million, will create nine new full-time-equivalent jobs and retain 65 existing jobs.
99 Freedom Court Holdings LLC will receive $373,331 to assist in financing the purchase and renovation of an 11,680-square-foot industrial warehouse located at 99 Freedom Court in Elyria (Lorain County). 99 Freedom Court Holdings LLC is a real estate holding company formed to lease the project real estate to Armstrong Steel Erectors, Inc., which is a general contracting company specializing in bridge construction and renovation. The project, which has an approximate total cost of $497,775, will create three new full-time-equivalent jobs and retain 20 existing jobs.
Fortkamp Enterprises, LLC will receive $164,925 to assist in financing the renovation of a 14,640-square-foot warehouse and office space and the purchase of assorted manufacturing equipment to manufacture agricultural disc manure applicators and pipe bridges on a .815-acre parcel at 3216 Wabash Road in Fort Recovery (Mercer County). Fortkamp Enterprises, LLC manufactures agricultural pipe bridges, pig pens, chicken traps, disc manure applicators, crawler haulers, and feed equipment. The project, which has an approximate total cost of $496,723, will create four new full-time-equivalent jobs and retain 14 existing jobs.
Through the Regional 166 program, eligible projects include those related to industry, commerce, and distribution or research activities, with loans up to $1 million. Priority may be given to eligible projects with higher wages and job creation commitments in a distressed area of the state. A special loan dollar-to-job ratio is not required.
For more information about how to apply and to find out if a project is eligible, visit the Regional 166 Direct Loan Program page.
The Ohio Department of Development empowers communities to succeed by investing in Ohio’s people, places, and businesses. Learn more about our work at development.ohio.gov.
The Ohio Department of Development today announced the release of more than $2.5 million through the Regional 166 Direct Loan Program, which promotes economic development, and job creation and retention by providing low-interest loans to businesses with limited access to adequate capital from private funding sources.
