COLUMBUS – Businesses in a dozen central and southeastern Ohio counties are eligible for disaster loans from the federal government to offset the economic impact of the repairing of the Buckeye Lake dam.
Governor John Kasich formally requested the disaster designation this week, which would provide funding for businesses impacted by water levels that were lowered in April while construction of a new dam is underway, and which have led to a drop in tourism revenue, according to a release from the office of Sen. Sherrod Brown.
Brown and Sen. Rob Portman, along with Congressmen Pat Tiberi and Steve Stivers, urged the Small Business Administration to designate Fairfield, Licking, and Perry Counties as federal disaster areas.
The designation granted by the SBA also includes businesses in Franklin, Athens, Coshocton, Delaware, Hocking, Knox, Morgan, Muskingum, and Pickaway counties, Brown’s office said.
“The SBA acted swiftly because businesses in this region are so important to central Ohio’s economy,” Brown said. “While just part of the solution, this lending assistance will help businesses rebuild and get back on their feet.”
Low-interest loans are available to businesses, agricultural cooperatives, recreational concerns and private nonprofit organizations, Portman said.
“This is welcome news for small businesses and workers in the Buckeye Lake region,” Portman said. “I’ve met with many of them and heard firsthand about the challenges of doing business due to decreased tourism revenue. These new resources will help to keep up the economic vitality of the region while construction of a new dam is underway.”
Rebuilding of the dam was made necessary after it was discovered that it had weakened and was in danger of breaking.