Economic Development

Regional Chamber Reports 1Q Development Results

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YOUNGSTOWN, Ohio – The Youngstown Warren Regional Chamber today issued its economic development update for the first quarter, reporting $1.62 million in total investment during the period.

The chamber did not specify projects accounting for that total, and indicated the new investment did not include new or retained jobs or new payroll, only that 96,607 square feet of space was “constructed or absorbed.” (CLICK to read full report)

The chamber did, however, say its staff “is currently managing an array of projects that we hope to announce in the next 12 to 24 months.”

Under the heading “pending projects,” the chamber estimates potential investment of $1.5 billion, 1,318 new jobs with new annual payroll of 456 million; 2,608 retained jobs and retained or maintained annual payroll of $106.6 million. These pending projects would result in the construction or absorption of more than 1 million square feet of space, the chamber said.

In addition, the economic development staff “completed 198 retention and expansion visits” during the first quarter. “While conducting these one-on-one visits, we’re able to determine the needs of the business community with regard to assistance in financing, grants, tax credits, local resources and more,” the chamber said.

Companies interested in receiving a site visit are urged to contact Tom Presby at 330744 2131, ext. 36 in Mahoning County or William Cann at 330 392 6140, ext. 15 in Trumbull County.

SOURCE: Youngstown Warren Regional Chamber.

Published by The Business Journal, Youngstown, Ohio.