Aided by an $800,000 state loan, a local company’s expansion will bring 70 new jobs to Athens County.
Global Cooling Inc., 141 N. Columbus Road, will receive the loan to purchase new equipment and expand production at its Athens plant, said State Representative Debbie Phillips (D-92nd).
The company, established in 1995, specializes in developing and manufacturing ultra-low temperature freezers.
The loan will make up about 75 percent of the $1.1 million new equipment costs, according to a news release from Phillips. The state controlling board voted to release the funding to the company Monday, she added.
Phillips said the state is loaning money to Global Cooling because it is an investment in local business.
“(Global Cooling) is doing very good work. It’s a niche, high-tech market, which is good to have in Athens,” Phillips said.
The company is expected to create 70 more full-time jobs in the advanced energy field, Phillips said.
“With unemployment the way it is, every little bit helps,” she said. “It is an encouraging sign for our region to see a high-tech company’s continued success and growth.”
Representatives from the company could not be reached for comment.