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Home > News > Economic development loans awarded to create jobs in Ohio

May 29th, 2007

Economic development loans awarded to create jobs in Ohio

Abstract:
Prime Technology LLC (Prime), located in Miamisburg (Montgomery County), has been awarded a $1 million Research & Development Investment Loan Fund Loan at an interest rate of two percent for a term of seven years. The funds will be used to acquire new research and development machinery and equipment. Prime was established in 2005 and is a technology based venture established by NCR Corporation. Prime develops and implements anti-counterfeiting and security solutions and specializes in product authentication through nanotechnology. Prime infuses its technology, called LumID, into inks, paints, polymers or fabrics to provide securing product identification. Prime currently proposes to expand operations by establishing a research, development and manufacturing site in Miamisburg. The company will lease 10,000 square-feet of space in the Mound Advanced Technology Center and purchase new laboratory and testing machinery and equipment to support continued growth of its secure identification technology. This more than $2.2 million project is expected to create 28 jobs at the project site within the first three years of the project's initial operation.

Source:
State of Ohio

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