State Representative Marlene Anielski (R-Walton Hills) has announced that the State Controlling Board today approved the release of a $5 million 166 Direct Loan to Reiner, LLC for its expansion project in Brecksville.
Reiner is a newly formed LLC that will be headquartered in Brecksville. It will lease the project facilities to Applied Medical Technology, an FDA-registered medical device manufacturer specializing in the production of silicone and plastic injection molded medical products used in the medical and surgical environment, with special emphasis on gastronomy devices such as external feeding tubes.
According to documents from the Office of Budget and Management, as a result of the project and state assistance provided, Reiner has committed to creating 150 new jobs and retaining 148 jobs.
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“I am happy for the continued success of Reiner,” said Rep Anielski. “Brecksville is a wonderful city for economic development and is a strong example of how Ohio is creating a healthy economy.”
The 166 Direct Loan Program provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private sources of financing. Priority is given to eligible projects based on job creation and payroll commitments, fixed asset investment commitment, project return on investment, project location, and other project factors.