Energy Efficiency, Industrial, Solar  -  February 24, 2020

Ohio tools manufacturer receives loan for energy upgrades to new facility

Tomco Machining, a tools manufacturer based on Dayton, Ohio, will be moving to a new facility through a $990,000 energy efficiency  business loan from the Dayton-Montgomery County Port Authority.

The manufacturer will be using the property-assessed clean energy (PACE) business loan to partially pay for rooftop solar and energy-efficient lighting and HVAC systems at its new building in Springboro, Ohio, in a project that is expected to cost approximately $2.5 million. The company will be responsible for repaying the loan in 38 semi-annual payments, the Dayton Daily News reported.

Tomco Machining will be receiving the loan through bonds sold by the port authority. The publication also reported that this will be the eighth or ninth project of its kind by the Dayton-Montgomery County Port Authority.

The company hopes to move into the building in Springboro in late spring.