Two Local Businesses Receive Funding

by Emily Baird on August 31, 2010 at 6:38 am

A company is receiving more than $100,000 for relocating to a village in Licking County.

The Ohio Department of Development says Accel Incorporated will see a 45% Job Creation Tax Credit for the next five years. In return, the company is expected to stay at its current business site in New Albany for eight years. It’s known for producing beauty care products.

A Guernsey County business also has money coming its way. Island Oasis Frozen Cocktail Company was awarded a direct loan in the amount of $500,000 and $3 million from the Ohio Enterprise Bond Fund. Officials say the money will help purchase equipment for a $3.5 million dollar project that is expected to create more than 100 jobs and to sustain 62 positions.