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State grant aids Lebanon business

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Onshore Technology Services Inc. in Lebanon is creating at least seven jobs and investing $350,000 in new capital under the state’s community development block grant program, the Missouri Department of Economic Development announced this morning.

The city of Lebanon received a $140,000 CDBG Action Fund Loan to help spur the company’s growth.

“I am pleased the state can award these resources to help Lebanon,” Gov. Matt Blunt said in a news release. “Our focus on helping employers and entrepreneurs create and retain good jobs is increasing opportunities for working families.”

Under the program, the state provides loans to certain types of for-profit companies that need funds for startup or expansion, after they have exhausted other sources. Projects can only be in cities with less than 50,000 in population or counties with less than 200,000 in population.

Onshore Technology Services offers global outsourcing, business consulting and Web design and hosting, according to www.onshoretechnology.com.

The Lebanon Daily Record has reported that Onshore intends to create at least 25 high-tech jobs by late 2008. The company also operates a 35-employee facility in Macon.

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