Ancra International to create 25 jobs in Springfield

Thursday, October 28, the Greater Springfield Chamber of Commerce welcomed Ancra International to the Springfield business community with a press conference held at Commerce Pointe.

Ancra produces a full range of cargo handling systems and equipment for the loading, handling and restraint of airborne cargo, as well as an array of fittings, straps, nets and specialty restraints. The company will be providing TAC Enterprises with materials for their cargo net production operation.

Ancra expects to intially employee 20-25 workers at its facility on Progress Drive.

Chamber President and CEO Mike McDorman had this to say about the news:

“One of the wonderful success stories that has been a part of our community for 50 years is TAC Enterprises. News on Thursday that a company was moving work from Kansas to Springfield and will initially employ 20 to 25 people further demonstrates what a valuable asset TAC is to the business community.

Ancra International’s move here is to be closer to TAC, a partner in the manufacture and repair of cargo control systems for the Air Force. Some of you may know TAC under previous names, first as Town and Country School, the first educational school in the world for the mentally disabled. A part of the school was the Adult Vocational Training Program, later called the Shelter Workshop.

It’s also been known as TAC I and TAC II. TAC I on Old Selma Road is now TAC Enterprises and TAC II on Leffel Lane changed its name to Quest. Quest employs 208 and TAC Enterprises 319. It is one of the top 25 employers in Clark County. TAC Enterprises major customer is the U.S. Air Force. TAC has been repairing all of the USAF’s cargo nets since 1982, and in 2005 secured an AbilityOne contract to manufacture new nets for the Air Force. That’s what makes the announcement than Ancra International was moving here so important.

Instead of sending cargo control work from Kansas to Springfield, they’ll be sending it across the street. This will be cost effective and should solidify the contract with the USAF for the future. TAC and Quest also service such local companies as Kinedyne, Trutec, Rittal, ITT, Sweet, YSI and others. TAC and Quest are examples of how people with disabilities can be productive citizens and an important part of the business community in Greater Springfield.”

Read local news stories here:

>> WHIO Radio article

>> Springfield News-Sun article

>> Dayton Business Journal

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Funding in Ohio to support small business lending

Governor, Patt-McDaniel, U.S. Treasury Announce Funding for Ohio to Support $551 Million in Small Business Lending, Creating New Jobs

State Small Business Credit Initiative Critical Component of Small Business Jobs Act President Barack Obama Signed into Law Last Week; Funds Will Help Local Entrepreneurs Expand Their Businesses, Putting More Ohioans Back to Work

Ohio Governor Ted Strickland, Ohio Department of Development Director Lisa Patt-McDaniel and the U.S. Department of the Treasury today announced the allocation of State Small Business Credit Initiative funding for Ohio. The Funds will support $551 million in new small business lending in Ohio through innovative local programs that help entrepreneurs expand their businesses and create new jobs, and are a critical component of the Small Business Jobs Act President Barack Obama signed into law last week to help unlock credit and provide targeted tax cuts for small businesses.

“Small businesses account for more than two-thirds of all jobs in Ohio and more than anything else, what I hear from small business owners is that the greatest impediment to creating jobs is access to capital,” said Ohio Governor Ted Strickland. “We fought hard for federal passage of the Small Business Credit Initiative, and I want to thank the members of Ohio’s delegation, and particularly Senator Sherrod Brown, for their work in support of this legislation. Ohio’s share of the funds will support programs that will help Ohio’s small businesses expand and thrive, particularly manufacturers, those in the auto supply chain and minority businesses.”

“Innovative local initiatives that support small business lending are under extraordinary pressure because of state budget difficulties,” said U.S. Treasury Secretary Timothy Geithner. “These funds will provide vital support to successful state-level programs that help local entrepreneurs obtain the credit they need to put more Americans back to work. President Obama fought hard for the Small Business Jobs Act because it will help ensure that small businesses continue to strengthen our nation’s recovery and serve as critical engines for job creation.”

Under the State Small Business Credit Initiative, states are offered the opportunity to apply for federal funds for programs that partner with private lenders to extend greater credit to small businesses. States are required to demonstrate a minimum “bang for the buck” of $10 in new private lending for every $1 in federal funding. Accordingly, the $55.1 million funding commitment that the federal government will make in Ohio for this program is expected to support $551 million in additional private lending. Nationwide, the program is expected to support $15 billion in additional private lending.

“We are excited to use the more than $55 million in additional resources to reinforce and support the work we are already doing here in Ohio,” Patt-McDaniel said. “Small businesses are critical to Ohio’s economy and we will continue to support our entrepreneurs as they hire new employees and grow their businesses.”
The State Small Business Credit Initiative allows states to build upon existing, successful state-level small business lending programs, including examples such as collateral support programs, Capital Access Programs (CAPs), and loan guarantee programs.

  • Collateral Support Programs for Small Manufacturers: Collateral support programs help viable businesses that are struggling to get credit because the value of the collateral they hold has fallen, often due to the decline in commercial real estate values. These programs – which set aside funds to augment collateral the borrower already holds – provide banks greater confidence in extending credit to these borrowers, particularly in some of the communities hardest hit by the economic downturn.
  • Capital Access Programs (CAPs): CAPs, which are already up and running in more than 20 states, are loan portfolio insurance programs in which states provide a matching contribution to bank loan loss reserves when lenders extend credit to qualified small businesses. These reserve enhancements allow lenders to expand credit to new borrowers at a time when many of these lenders might otherwise pull back.
  • Loan Guarantee Programs: Under loan guarantee programs, states provide partial guarantees on certain small business loans to give lenders greater confidence to extend credit.

If a state does not have an existing small business lending program, officials can establish one in order to access this funding. States must provide plans for utilizing their funding allocations to U.S. Treasury for review and approval.

The amount of SSBCI funds a state is eligible to apply for is determined based upon formulas in the Small Business Jobs Act that take into account each state’s respective unemployment rate and decline in employment relative to other states.

In addition to the State Small Business Credit Initiative, the Small Business Jobs Act includes a number of important provisions to support small business job creation. The Act includes eight new small business tax cuts that went into effect immediately upon becoming law last week; creates a $30 billion Small Business Lending Fund to help small and community banks provide new loans to small businesses; extends and expands existing Small Business Administration loan programs; and delivers other important benefits for small businesses.

>> Ohio Department of Development website

>>For more information on the Small Business Jobs Act, please visit link.

>> Governor Ted Strickland website

Announcement on funding for small business, creating new jobs

Today: Patt-McDaniel, Treasury officials to hold conference call announcing funding allocation for Ohio to help support small business lending and create new jobs

Ohio Department of Development Director Lisa Patt-McDaniel, and Counselor to the Secretary of the Treasury, Gene Sperling, will hold a conference call with reporters at 4 p.m. (Eastern)  TODAY to discuss Ohio’s funding allocation under the State Small Business Credit Initiative (SSBCI). The State Small Business Credit Initiative – created under the Small Business Jobs Act President Obama signed into law last week – is designed to strengthen innovative state programs that support private sector lending to small businesses. The SSBCI is one of several measures in the Small Business Jobs Act that will help entrepreneurs expand their businesses and create new jobs, including eight new small business tax cuts, and new Treasury and Small Business Administration initiatives to help unlock credit for small businesses.

WHAT: Conference call on funding allocation for major small business lending program

WHO: Lisa Patt-McDaniel, Director of the Ohio Department of Development Gene, Sperling, Counselor to the Secretary of the Treasury

WHEN: Thursday, October 7, 2010 – 4 p.m. (Eastern)

WHERE:        Members of the media interested in joining the call must email Kimber Perfect (Kimber.Perfect@development.ohio.gov) for dial-in information.

“The Children’s Place” has grand opening in Upper Valley Mall

The Upper Valley Mall and the Greater Springfield Chamber of Commerce celebrated the official grand opening and ribbon cutting of The Children’s Place on September 24. The Children’s Place is located directly across from Old Navy in the mall. The retailer occupies a 5,000 square-foot space and specializes in children’s merchandise, ranging in sizes from newborn to 14-years-old for both boys and girls.

Upper Valley Mall Manager Brenda LaBonte was quoted in the Springfield News-Sun as saying, “Everybody has been very excited about this opening. Springfield is very family-oriented, so this is a good location for a store that offers very fashionable children’s clothing at a very good price.”

According to the News-Sun, The Children’s Place Retail Stores, Inc. designs, contracts to manufacture and sells merchandise under the proprietary “The Children’s Place” brand name. As of July 31, the Company owned and operated 977 stores and an online store at www.childrensplace.com.

The opening of this store created 10 jobs, both part-time and full-time, and according to the store’s manager, they will be looking for even more help during their busy holiday season.

“Bistro To Go” opens in Downtown Springfield

Greater Springfield’s newest restaurant – Bistro To Go – opened September 20 with a formal ribbon-cutting at its location in the Shawnee Hotel building.

Bistro To Go occupies the space formerly occupied by Wa-Bee’s Restaurant, but the ambiance and decor are worlds away from the old downtown diner. Owners Michelle McDonald and  Jim Curry will offer a full breakfast and lunch menu that includes seasonal fruits and homemade ingredients.

The restaurant is great for downtown and will thrive especially with hungry business professionals close by. Bistro To Go hired several workers, cooks and servers as a part of this new venture, so we thank them for making new jobs available in the community. This new opening will enhance the appeal and overall structure of downtown, which is always a plus for economic development!

We welcome Bistro To Go to downtown and wish them much success in their endeavor!

>> See the article from the Springfield News-Sun

Manpower Employment Outlook Survey Results

Just announced are the results of the Manpower Employment Outlook Survey for Quarter 4 2010. As you may know, the survey has been running for 47 years and is conducted quarterly as a public service to help businesses, consumers, government officials and agencies, trade associations and academic institutions understand the hiring plans of employers for the quarter to come.

Of the more than 18,000 U.S. employers surveyed, 15% anticipate an increase in staff levels in their Quarter 4 2010 hiring plans, while 11% expect a decrease in payrolls.  When seasonally adjusted, the Net Employment Outlook becomes +5%. Seventy one percent of employers expect no change in their hiring plans. The final 3% of employers indicate they are undecided about their hiring intentions.

Dayton, OH MSA employers expect to hire at a moderate pace during Quarter 4 2010, according to the Manpower Employment Outlook Survey.

From October to December, 11% of the companies interviewed plan to hire more employees, while 8% expect to reduce their payrolls. Another 80% expect to maintain their current staff levels and 1% are not certain of their hiring plans. This yields a Net Employment Outlook of 3%.

“Employers are less optimistic about hiring plans for the final three months of the year compared to Quarter 3 2010 when the Net Employment Outlook was 10%,” said Manpower spokesperson Tom Maher. “Employers expect a considerably faster hiring pace compared with one year ago, when the Net Employment Outlook was -14%.

Additional information is available at press.manpower.com.

We hope you find the Manpower Employment Outlook Survey results useful. For any questions, or to discuss the survey and how the results might impact your business, contact Thomas Maher at thomas.maher@na.manpower.com.

>>Click HERE for the RESULTS

Results of the Manpower Employment Outlook Survey: How they effect your business

The results of the Manpower Employment Outlook Survey for Quarter 3 2010 have been released. The survey has been running for 47 years and is conducted quarterly as a public service to help businesses, consumers, government officials and agencies, trade associations and academic institutions understand the hiring plans of employers for the quarter to come.

Of the more than 18,000 U.S. employers surveyed, 18% anticipate an increase in staff levels in their Quarter 3 2010 hiring plans, while 8% expect a decrease in payrolls, resulting in a Net Employment Outlook of +10%. When seasonally adjusted, the Net Employment Outlook becomes +6%. Seventy percent of employers expect no change in their hiring plans. The final 4% of employers indicate they are undecided about their hiring intentions.

Dayton, OH area employers expect to hire at a respectable pace during the third quarter of 2010, according to the Manpower Employment Outlook Survey. From July to September, 18% of the companies interviewed plan to hire more employees, while 8% expect to reduce their payrolls. Another 71% expect to maintain their current staff levels and 3% are not certain of their hiring plans. This yields a Net Employment Outlook* of 10%.

Employers anticipate staff levels to be much higher than the second quarter of 2010 when the Net Employment Outlook was 0%. Employers also expect a significantly faster hiring pace compared with one year ago, when the Net Employment Outlook was -10%.

>> Read the full Manpower Employment Outlook Survey

>> Additional information is available at press.manpower.com