State-funded programs to aid city of Dover project

The Ohio Department of Development announced the release of more than $4.7 million through a pair of state-funded programs designed to transform communities and fuel business growth.

Two businesses will receive financing through the Regional 166 Direct Loan program, and four communities will benefit from the Roadwork Development Grant (629) program.

“These investments create jobs, represent opportunities to improve infrastructure and lay the foundation for sustained growth as we build stronger communities across Ohio,” said Lydia Mihalik, the director of the Department of Development.

The City of Dover will receive $115,000 in support of the Schaeffler Transmission LLC project. This is in addition to the release of $775,000 from the Department of Development previously approved by the Ohio Controlling Board on March 4.

To assist the Schaeffler Transmission LLC project, the proposed roadwork would involve reconstruction of 1,525 feet of Crown Road between Wooster Avenue and the RJ Corman Railroad Tracks to accommodate heavy truck traffic and allow for further site development. The project will support the creation of 650 full-time equivalent jobs and retain 1,622 jobs.