Economic Development

Build Your Business With Us

Midwest Electric is happy to be your trusted business development partner!

We are committed to working with local, state and national officials in order to keep and create jobs in west central Ohio. Our economic development program includes:

Competitive electric rates
Low-cost new construction charges
Partnerships with our statewide power supplier
Revolving Loan Fund

Revolving Loan Fund

Our Revolving Loan Fund (RLF) is designed to help create or keep jobs in west-central Ohio. Local businesses in the seven-county area we serve can apply for a low-interest loan. You can use the financing to buy land, buildings, manufacturing equipment, office equipment, or to make infrastructure improvements.

Minimum loan is $5,000; the maximum depends on the amount of available RLF funds at the time of the request. The project must have a minimum of 10% of equity infusion. Other requirements apply. Contact us for more information.

Minimum loan: $5,000
Maximum based on available funds, strength of project, and discretion of Midwest Electric
Interest rate: Prime minus 3 points, but not less than 2%
Maximum 10-year repayment, no pre-payment penalties
Not the lead lender; but “gap” financing. Majority of funds are from equity or bank.
Collateral and other security requirements

Ineligible RLF projects include: refinancing of existing debt, or payment to business owners/partners, projects without any supplemental financing, investments, general improvement loans for regular replacements (unrelated to expansion/creation), agricultural production cost (ie, cultivation, production, harvesting), general purpose vehicles, working capital, individual residential construction projects, conflict of interest, etc.

Revolving Loan Flyer (213.56 KB)

RLF Pre-application (169.97 KB)

Buckeye Power

Buckeye Power, Inc. (BPI) is Ohio’s generation and transmission cooperative, providing power to the 24 Ohio-based electric cooperatives and Michigan-based Midwest Energy & Communications. Buckeye Power owns nearly 2,000 megawatts of electric generating capacity and places a high priority on exceeding environmental regulations at its power plants. They also have among the lowest wholesale power rates in Ohio.

Visit Buckeye Power's Economic Development page for their economic development newsletter, the JobsOhio site and building database, and featured sites served by Ohio's Electric Cooperatives.