Our Department of Economic Development manages linked-deposit programs and will focus on strategic investments that target job creation, job retention, and local economic stability by supporting Ohio’s small businesses, farmers, and homeowners. On this page, one can find important announcements and featured participant success stories regarding the Ohio Treasury’s flagship programs, such as GrowNOW, AgLink, SaveNOW, and ECO-Link, Renew Ohio & Rebuild Ohio among others.
GrowNOW Star: Powerhouse Electric
Cliff Schroeder is well-known in Putnam County. His family is renowned for its community involvement, from small business to public service. In the late 1980s, Schroeder and two business partners began County Electric, an electrical contracting firm in Ottawa. Since then, the business has grown to 30 employees with Schroeder at the helm (the other business partners parted ways).
In 2005, he founded Powerhouse Electric Supply, the only wholesale-retailer in Putnam County offering a vast array of electrical products for construction, residential, and industrial customers. Recently, Powerhouse Electric Supply went “green” by installing a solar energy system on the roof with the help of another neighboring business, Superior Energy Solutions. This high-tech solar array may be the largest of its kind for a business in Putnam County. The $90,000 dream project became affordable thanks to collaboration between Schroeder’s Bank, First National Bank of Pandora, and multiple state and federal programs.
For its commitment to alternative energy, the business was awarded grants from the federal Rural Energy for America Program and the Ohio Department of Development. The solar panels will cut the business’ energy costs 30-40 percent and model “green” behavior for the community. The “icing on the cake” is Powerhouse Electric’s use of an Ohio Treasury GrowNOW loan for the rest of the cost. The reduced interest GrowNOW loan and lower utility bills enabled the Ottawa business to retain employees.
Schroeder enjoys running a small business; it has challenges and rewards. “We take care of our own,” said Schroeder, referring to his family and the Ottawa community. “The installation [solar panels] shows we’re aware of our carbon footprint and on the cutting edge of renewable energy in Northwest Ohio.”
Powerhouse Electric Supply plans to sponsor school visits of the solar array and potentially launch a Web site that posts the energy cost saving benefits in real time. “If we can encourage others to use this technology; that is another benefit of going green,” said Andy Schroeder, Cliff’s son.
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