Revolving Loan Fund

RLF funds are often used to upgrade equipment.

Public-private partnerships have perhaps never been more important than they are now. With the passage of the American Recovery and Reinvestment Act earlier this year, the amount of federal funding available for business development has never been greater.

But did you know that funds are available from local governments, too? Delaware County and the City of Delaware both operate Revolving Loan Funds to aid in the expansion and retention of businesses by offering low-interest business development loans. According to the County’s economic development website, loans are available for manufacturing, distribution, retail, office, and commercial uses.

For more information about the county’s revolving loan fund process, check out this online brochure, and this application. Please feel free to contact the County’s economic development office with any questions. Sometimes a recession can be a great time to grow a business, and public-private partnerships can be a great way to do that.

First Korean firm in Delaware starts operations

At an open house in Delaware yesterday afternoon, the Sam Dong corporation unveiled its new sign and officially began operations here in Delaware County. Sam Dong, the first Korean owned company to have a presence in Delaware, reached an agreement in April with multinational manufacturing firm Luvata to acquire Luvata’s Rolled Products facility located on Pittsburgh Drive in Delaware. Sam Dong plans to retain the current employee headcount of 75 at the facility.

The facility will continue to produce the rod that Sam Dong uses to create its electrical wire.  Based just outside of Seoul, South Korea, Sam Dong manufactures specialty electrical wire products for use in the generator, motor, and transformer industries. Sam Dong boasts many well-known international customers, including General Electric, Hyundai, Siemens, Mitsubishi, and Hitachi. With the acquisition of the Pittsburgh Drive facility, Sam Dong has achieved complete vertical integration of their operations in North America.

“We are pleased to welcome Sam Dong to the community,” Delaware Mayor Windell Wheeler said in April. “Our history of strength in the manufacturing sector makes Sam Dong an ideal fit for our local economy.”

The presence of yet another international firm in Delaware County just goes to show that whether you’re local, from out of state, or from the other side of the globe, Delaware is a great place to do business.

The Sam Dong sign is unveiled in a ceremony at the firm's recently-acquired Pittsburgh Drive location in Delaware. The sign is unveiled by, from left, Delaware City Manager Tom Homan, Delaware Mayor Windell Wheeler, Sam Song CEO Ee Joo Lee, and Sam Dong President Leon Molloy. Photo courtesy of Lee Yoakum, Public Affairs, City of Delaware.