Mahoning Valley - Editor's Note: This story has been updated to correctly identify the type of funding these businesses are getting.

Two valley businesses will be receiving funds to expand their operations in the area.

The Ohio Department of Development released more than $3 million to fuel small business growth in the state.

Among the five businesses getting some of this money are two, one in Mahoning County and one in Trumbull.

Premium Meats Inc, and co-borrower Michael G. Kassos Living Trust, got $700,000 for the construction of a 6,000-square-foot building addition to 829 High Street in Warren. 

The goal is to expand Premium Meats, which makes beef patties, pork patties, cooked sausage and more. Its estimated cost will be $3.5 million and create three full-time position and retain 31 existing jobs at the project site.

In Mahoning, $87,000 loan was approved for 61 Railroad to assist in buying a 13,394 square-foot building at 61 Railroad Street in Canfield. The company will then lease the building to Converse All Steel Services Inc., which provides custom steel burnouts with an oxy-fuel and plasma torch for structural steel construction projects.

The project, estimated to cost $870,000, will create two new full-time-equivalent jobs and retain 14 existing jobs on the site.

"A major part of our mission at Development is helping Ohioans make their business dreams become a reality," said Lydia Mihalik, director of the Department of Development. "The choice to establish or move a business here to Ohio is a commitment to growth and success in a state that not only values entrepreneurship and business success, but that will stand by you every step of the way."