Strickland announces $1 million for Cleveland investments

COLUMBUS -- Ohio Governor Ted Strickland announced more than $1 million in funding for economic development projects in the City of Cleveland that are expected to create 40 and retain 625 jobs.

The projects were approved today by the State Controlling Board.

"We are making strategic investments in Ohio communities and businesses to retain jobs and to advance urban redevelopment efforts," Strickland said.

Flats East Development LLC will receive a $1 million Rapid Outreach Grant for the costs associated with building construction in support of the company's redevelopment project in the City of Cleveland (Cuyahoga County).

Flats East Development was created in 2005 to lead the redevelopment of 23 acres along the East bank of the Cuyahoga River in downtown Cleveland.

This $250 million project is expected to retain 625 positions.

AIM Pharmakon, Inc. will receive a $50,000 Rapid Outreach Grant for the costs associated with the acquisition of machinery and equipment in support of the company's project in the City of Cleveland.

AIM offers an array of niche marketing, branding, and sales consulting services for facilitating pharmaceutical commerce. This $1 million project is expected to create 40 jobs.