Columbus – Senate Democratic Leader Capri S. Cafaro (D-Hubbard) announced today that the State Controlling Board approved a $750,000 Department of Development Research & Development Loan to NMC Metals in Niles, Ohio. The loan will be used to purchase new machinery and equipment.
“Awarding NMC Metals these funds is critical to the company’s growth as a successful Ohio business,” said Senator Cafaro. “This loan will create more high-tech and higher paying jobs for in the community.”
The R&D loan will help NMC create a technology center for research and product development. As a result of the technology center, 15 new, full-time technology jobs will be created. The loan will also help save 15 at-risk jobs in Niles. The company plans to offer internships at the new center to local engineering students.
“NMC has been a leader in its field for more than 50 years. The Research and Development loan program ensures that companies like NMC can continue to compete,” said Senator Cafaro.
NMC Metals was founded in 1960 to develop and manufacture expanded materials. Their products include expanded metal mesh, gratings, walkways, security fences and precision foil mesh. NMC also has engineering, research and product development departments.
The Controlling Board provides legislative oversight over certain capital and operating expenditures by state agencies and has approval authority over various other state fiscal activities.
