The state of Ohio has awarded money to three companies through its Business Development grant program. Of the three grants issued, one grant, for $25,000, will be going to a plastics recycling firm.
Mondo Polymer Technology is receiving a grant of $25,000 for costs associated with the acquisition of machinery and equipment. The company is a recycler of low-end films (polybags, shrink and stretch wraps, among other types of plastic.
The company is looking to build a new 84,000 square foot facilty to be used as both a manufacturing facility and administrative offices.
Equipment to be purchased includes fire suppression equipment, specialized recycling shredders, extruders, a mixing silo, granulators, conveyors and related equipment.
The project is expected to cost around $3.8 million.
"The projects approved for state assistance today represent the very best of Ohio's traditional manufacturing strengths, as well as job creation in growing high-tech fields," said Lt. Governor Fisher, who also serves as Director of the Ohio Department of Development. "I want to commend each company for considering Ohio for projects that will help further develop our existing business base and boost new and growing industry sectors in the state."