LineStream using loan to create 50 jobs at Cleveland headquarters
Ohio’s Development Finance Advisory Council has awarded a $960,000 loan to LineStream Technologies, which develops software to reduce the energy used by certain machines (including washers and dryers). The 7-year loan will be paid back to the Development Finance Advisory Council with interest.
The company will use these incentives to add 50 new positions to its headquarters, located in Cleveland.
Recently, the company won $5 million in investments from venture capital firms. It’s been expanding rapidly since signing an agreement with Texas Instruments last year.