The state controlling board approved loans to stimulate economic development according to State Senator Tom Niehaus, (R-New Richmond.)

The controlling board approved a $6.135 million Ohio Enterprise Bond Fund loan to provide Industrial Realty Group Batavia I, LLC with the access to capital it needs to acquire and renovate the former Ford Motor Transmission Plant in Batavia. The project will result in the creation of 85 new full-time jobs and the potential for more in the future.

The 1.8 million square foot facility will be converted from one large manufacturing plant to a multi-use tenant facility. The state loan ensured that IRG Batavia could get the necessary financing to purchase the facility, which otherwise would have been slated for demolition by Ford.