Release Date: Mar 17, 2009
File:

Summary:
At its March 17, 2009, General Session meeting, the Montgomery County Board of Commissioners approved Economic Development/Government Equity (ED/GE) grants for two Dayton businesses.

One of those grants ($240,000) is for 444 E. Second Street in Dayton. The former printing building and warehouse will be rehabilitated into laboratory space for the Institute for the Development and Commercialization of Advanced Sensor Technology (IDCAST).  The location will be the second site for IDCAST in downtown, with the other site in Tech Town.  The structure will be renovated to create laboratory space and make improvements to the roofing, heating, plumbing, electrical systems and parking lot to support the company's planned expansion.  Eight jobs will be retained and 45 jobs created. Those jobs will provide research support and ancillary jobs to other companies benefiting from IDCAST's collaborative structure in Montgomery County.

The second ED/GE grant ($75,000) is for Cooper Power Tools.  The company is planning to cease operations in Springfield, Ohio, and locate those employees to its Dayton facility.  This consolidation requires an expansion of its manufacturing operations by building out 2,500 sq. ft. of its facility to accommodate the addition of equipment and employees.  The project will support the retention of 145 existing jobs, creation of 10 new jobs and relocation of an additional 38 jobs from the closing of the Springfield facility.

In December, 2008, the Montgomery County Economic Development/Government Equity (ED/GE) Advisory Committee recommended funding ten projects, totaling $1,258,161. 

The ED/GE Program was established by the Montgomery County Commissioners in 1992 to attract jobs and retain the County's tax base, reduce inter-local competition for development, enable the County to successfully compete as a region in national and international markets, and to share the benefits of county-wide economic prosperity among all jurisdictions in the County.  After nine successful years, ED/GE was renewed for another ten years, beginning in 2001.  28 jurisdictions, representing 100% of Montgomery County's population, are members.

To learn more about the ED/GE program, contact the Montgomery County Department of Economic Development at 937-225-6140.