Steve Malbasa, owner of Hanover Marine, discusses the financial position of his company at its headquarters in Fairport Harbor. The business, located just outside Cleveland on Lake Erie, is struggling to repay a loan from the state.
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Three custom-built yachts sit in dry dock at Hanover Marine in Fairport Harbor.
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The front of Pamela Priddy's business, Health Plan Administrators, is largely unmarked at its location in Youngstown. Another of Priddy's companies, Myriad Health, received a $750,000 loan from the state of Ohio in 2008.
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Anthony Crimmins, a process engineer, checks over a 47-foot-long yacht in production at Hanover Marine in Fairport Harbor.
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Employees manufacture virtually the entirety of each custom built yacht inside the Hanover Marine facility in Fairport Harbor.
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Cabinet maker Jim Gersin, a 20 year employee, crafts a cherry cabinet for a custom yacht.
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Gary Parnaby, center, works on the wiring inside a custom yacht still in production at Hanover Marine in Fairport Harbor.
The Blade/Katie Rausch
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Employees manufacture virtually the entirety of each custom built yacht inside the Hanover Marine facility in Fairport Harbor.
The Blade/Katie Rausch
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Patrick Kordos, center, works on assembling one of the custom yachts in production at Hanover Marine in Fairport Harbor.
The Blade/Katie Rausch
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Gary Parnaby, center, disembarks from one of the custom yachts still in production.
The Blade/Katie Rausch
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Three custom-built yachts sit in dry dock at Hanover Marine.
The Blade/Katie Rausch
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Steve Malbasa, owner of Hanover Marine, discusses the financial position of his company at its headquarters in Fairport Harbor.
The Blade/Katie Rausch
Buy This Image