The Ohio Manufacturers (OMA) - FirstEnergy Bond Fund Programs

If your manufacturing business is looking for financing, the best advice is to consider all the options.  When times are difficult, securing financing through banks and other financial institutions can be a real challenge.  Manufacturers may sometimes find themselves blocked as they seek to take advantage of promising growth opportunities.

A new partnership of The Ohio Manufacturers Association (OMA), FirstEnergy Corp. and three Ohio Port Authorities - including the Summit County Port Authority - is prepared to help meet this need.  With funding provided by First Energy Corp., this innovative partnership offers manufacturers an alternative to traditional bank financing.  It gives Ohio manufacturers a competitive edge.  

To be eligible, manufacturers must be customers of FirstEnergy Corp's Ohio utility companies and members of the OMA.  Projects must support new economic development and job retention, and must involve about $1 million in capital investments.

To learn more about this financing option, contact the Summit County Port Authority at (330) 762-4776.

 (Adapted from The Ohio Manufacturer's Association brochure.)

The Summit County Port Authority recently assisted the Northeast Ohio Trade & Economic Consortium (NEOTEC) with its application to reorganize and expand Foreign-Trade Zone 181 in northeast Ohio.NEOTEC serves as grantee for FTZ 181, with designated sites in a 10-county area.The application submitted to the FTZ Board includes a request to expand the designated area at CAK International Business Park to Phase III in the City of Green and to designate Albrecht Industries Inc property at 2700 and 2850 Gilchrist Road, along with an 11-acre parcel, located in the City of Akron.The CAK site will be NEOTEC's permanent site. The application is being submitted under a new Alternative Site Framework (ASF) which will provide NEOTEC and its member counties greater flexibility to assist companies in our region source their global supply chains. The FTZ program offers companies engaged in international trade an opportunity to defer, reduce or eliminate duties paid, expedite delivery as well as other cost-saving measures available through this program.To learn more about this program, contact Ron DeBarr, President of NEOTEC, at 330 672 4080 or the Summit County Port Authority at 330 726 4776.