A Cleveland businessman, C. David Snyder, told officials in several northern Ohio communities that his company, Ruralogic, was poised to generate new jobs and economic growth throughout the region. In exchange, the state of Ohio and the municipalities of Archbold, Bryan and Napoleon granted Ruralogic more than $1.2 million in loans and grants. The promised jobs and growth, however, never materialized. The Toledo Blade reports that “these issues follow a pattern of financial irregularities at Mr. Snyder’s companies, which either acquired or worked on projects that received more than $28 million in government financing during a five-year period.” The article states that most of the money has not been repaid and that the businesses involved “face allegations that they misappropriated taxpayer or corporate funds.” For more, read the full story.
State of Ohio and small towns loan millions, but tech jobs did not materialize
