Hey Brian,

The Paradox Prize project that we are involved was submitted by the Commissioner’s Office  in partnership with us and the Lake County Port Authority.  The Paradox Prize is a program funded by the Fund for Economic Future and you can find more information on the actual Paradox Prize program here https://paradoxprize.com/

To date Laketran and the other partners have not incurred  any expense, but the project is scheduled to start soon.  The $75,000 we have received will be the only funds going into the project, there will be no tax payer funds involved in the project, except for a minimal amount of time from my management team and they are all salary, so there is no increase in expenses associated with that management.  At this time the employers do not have any out of pocket expenses, for the pilot program.  In the event the program is deemed a success and the employers wished to continue it, we would need to have a conversation with them about how it would be funded.

The project is financially segregated from our normal operation, we will not be using our new or old sales tax revenue for the program.

The program current has 2 distinct parts the first is getting Lincoln Electric employees from their Euclid facility to their Mentor facility.  The second part is getting employees to Component Repair Technologies (CRT).  These employees will be picked up from various locations based on where CRT indicates they have pockets of employees, I believe they are assembling a group from the Painesville area and one from Eastern Cuyahoga County, I am not sure if that is specifically East Cleveland, Euclid, etc.  So the program is open to any potential employee CRT finds, regardless of location.

I hope this answers all your questions, if not feel free to contact me.  Thanks!

Ben Capelle | CEO