News Column

$1.5 Million Loan Assists National Automotive Experts with Expansion to New Strongsville Location

April 30, 2014

CLEVELAND, April 30 -- Cuyahoga County Executive issued the following news release:

Cuyahoga County Executive Ed FitzGerald announced today that his administration has approved a $1.5 million loan from Cuyahoga County'sWestern Reserve Fund to assist National Automotive Experts, LLC, with the purchase of a 56,000 square foot facility in Strongsville in order to support their continued growth.

"National Automotive Experts has called Northeast Ohio home since its founding in 1996, and we are delighted that this Western Reserve Fund loan will enable them to continue growing jobs here for years to come," said FitzGerald, who established the $100 millionWestern Reserve Fund after taking office in 2011. "We will continue building on this record of success, and use the largest countywide economic development fund in Ohio to support good-paying jobs for middle class families."

National Automotive Experts, LLC, sells and administers warranties to dealerships for cars, motorcycles, and RV's. The company currently has 76 employees and plans to create 43 new jobs after the expansion.

"The County's support of this project was an important part of our decision to move forward, and will allow us to more efficiently expand our operations and workforce," said Kelly Price, President, National Automotive Experts, LLC.

The Cuyahoga County Western Reserve Fund is a revolving loan fund that provides financing to job-creating and job retaining projects in the county. The overarching goal of the Fund is simple: make $100 million dollars available to spur county job creation and economic growth.

The estimated total cost for the project is $4.1 million.

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Source: Targeted News Service