CIMdata PLM Industry Summary Online Archive
8 June 2009
Financial News
Comet Solutions, Inc. Secures $1.4 million Ohio Innovation Loan
Comet Solutions, Inc. has been awarded an Ohio Innovation Loan in the amount of $1.4 million to be used to accelerate the development of Comet’s software for performance engineering in the product design process.
Capital from the loan will be invested in software development initiatives to better respond and meet the needs of customers in the aerospace/defense and off-highway industries as well as launch new applications to reach a broader market. Growth of the company as a direct consequence of these initiatives is expected to add approximately 35 new employees in the State of Ohio over the next several years.
Dan Meyer, president of Comet Solutions, Inc., states, “The Ohio Innovation Loan, along with additional equity investment in our company, allows us to improve our software products through upgrading functionality, improving performance, developing modern open API architecture and expanding the set of 3rd party CAE and CAD tools we support.” Meyer adds, “We remain committed to provide more benefits to our growing customer base and expand their use of Comet.”
Meyer said, “Comet has established an office in Cincinnati, Ohio so we can take advantage of the region's rich manufacturing base and the talent, customers and partners it affords us. This is an ideal place to grow our business.”
About the Ohio Department of Development
Working with partners across the public and private sectors, the Ohio Department of Development works to attract, create, grow, and retain businesses through competitive incentives and targeted investments.
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