Economic Development

$2.1B in Investment ‘Pending,’ Chamber Reports

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YOUNGSTOWN, Ohio — Economic development initiatives coordinated by the Youngstown Warren Regional Chamber got off to a slow start in the first quarter of 2017, at least in terms of numbers, but the value of pending projects exceeds $2 billion, according to the chamber’s newly released economic development newsletter.

Total investment in pending projects is $2.15 billion, the chamber reported. If all these projects come to fruition, 918 jobs would be created with a combined annual payroll of $41.3 million, and 1,945 jobs would be retained.

During the first quarter of 2017, total investment in completed projects amounted to $2.76 million with nine jobs created that supported annual payroll of $321,480 and 60 jobs retained.

The chamber said it received “19 out-of-state inquiries from companies or consultants interested in exploring opportunities in the Valley.” As a result, two companies toured available properties in Mahoning and Trumbull counties.

Meanwhile, 88 “retention and expansion visits” were completed to local companies. The objective of these visits is “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 meeting with members of the chamber’s economic development team should call 330 744 2131.

Published by The Business Journal, Youngstown, Ohio.