JobsOhio Inclusion Grant Helps OCECO with Modernization
Funding will support the purchase a new CNC machine as well as other machinery and equipment upgrades over the next several years
Published: Tue Dec 15 2020
Company Name: OCECO Industry Sector: Advanced Manufacturing Company Profile: Founded in 1921, OCECO is a fabricator of high-quality safety equipment for flammable liquid storage and wastewater gas disposal systems. They supply airports and energy companies like Marathon and Exxon Mobile and also do a large amount of business with municipalities, food production, and factory farms. Key products include fittings, flame arrestors and gas purification systems. Company website:www.oceco.com
About program: The JOIG provides financial support for eligible projects in designated distressed communities and/or for businesses owned by underrepresented populations across the state.
Support amount: $50,000
Type of Project: Expansion
Region: Northwest Ohio
Capital Investment: $237,805
About the project:
OCECO operates out of a 38,000 square foot facility in the Airport Industrial Park in Northwest Ohio. In 2017, Chief Executive Officer (CEO) Keith Ricker and Chief Financial Officer Mike Ruhe purchased the business with plans to expand its operations.
The company is looking to make upgrades that will support increased sales and employment.
The project will be assisted with a JobsOhio Inclusion Grant (JOIG) which will be used to purchase a computer numerical control (CNC) machine to modernize OCECO’s business and improve safety. In addition to the CNC machine, estimated to cost $117,000, OCECO will be investing $367,000 into the business over the next four years in new machinery and equipment.