Columbus - 
State Senator Bill Beagle (R- Tipp City) announced today that the State Development Financing Advisory Council (DFAC) recently approved the release of a $1 million 166 Direct Loan to Process Equipment Company of Tipp City (PEC) for the purchase of machinery and equipment as part of the company's expansion to meet additional customer demand. PEC has committed to create 62 new, full-time jobs and retain an additional 130 jobs as a result of the project. "The workforce in Miami County is second to none, enabling local companies like PEC to focus on expansion locally as well as market growth," Beagle said. "Economic recovery is tough, but job-creators like PEC are helping our community get back to work." PEC is a manufacturer of custom welding equipment and a fabricator for the machine tooling needs of the alternative energy, automotive, defense, aerospace, power transmission, and commercial & industrial products manufacturing industries. The company has committed to contributing $2.5 million to the project for a total investment of $3.5 million. The project will allow PEC to maintain its high level of customer service and be better suited to grow and expand their customer base and market share. The funds are contingent upon final approval from the State Controlling Board.
Senator Bill Beagle serves the people of Ohio's 5th District, which includes Miami County and portions of Montgomery and Darke counties.
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