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FOR IMMEDIATE RELEASE:
February 1, 2024
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MEDIA CONTACTS:
Dan Tierney: 614-644-0957
Jill Del Greco: 614-644-0957
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Governor DeWine Announces Additional Loans for
East Palestine Businesses
(EAST PALESTINE, Ohio)—Ohio Governor Mike DeWine and Ohio Department of Development Director Lydia Mihalik today announced financial support for two East Palestine businesses impacted by last year’s train derailment. These two companies join 18 others previously approved for financial assistance, bringing the total amount of support to more than $3.45 million.
“As we approach the first anniversary of the East Palestine train derailment, the state continues to offer support where it’s needed,” said Governor DeWine. “The people of East Palestine are resilient, and we will continue to support them for as long as it takes.”
New businesses receiving Emergency Support Program loans include:
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Yokeley Scott Corporation, LLC, a sports streaming company serving Northwest Ohio and Western Pennsylvania. The company is receiving a loan of $85,250.
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EPO, LLC, a real estate company that owns and manages residential rental properties. The company is receiving a loan of $65,285.
“These additional loans underscore our unwavering commitment to helping the people affected by last year’s derailment,” said Director Mihalik. “We are ensuring businesses not only recover but thrive.”
The Department of Development launched the East Palestine Emergency Support Program in August 2023 and issued the first loans in December. Additional loan applications are currently under review. In total, $5 million was made available through the program.
For-profit and non-profit businesses located within a two-mile radius of East Palestine that were operational on or prior to Dec. 1, 2022, are eligible to apply. The loans are 0% interest and range from $10,000 to $1 million. The loans are forgivable if utilized for payroll, employee benefits, rent or mortgage payments, utility expenses, worker protection, or inventory replacement expenses related to the train derailment. Eligible businesses can still apply through the online application available at development.ohio.gov/EastPalestine.
The loan program was created in partnership with the Ohio General Assembly with funds from the Controlling Board Emergency Purposes/Contingencies Fund.
Additional Media Contact:
Ohio Department of Development
Mason Waldvogel, Deputy Chief, Media Relations
📞 614-961-1688
✉ [email protected]
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