$1.32B in Development Projects Pending in Valley

YOUNGSTOWN, Ohio – Economic development projects pending in the Mahoning Valley total $1.32 billion, reports the Youngstown Warren Regional Chamber in a newly published update to members. If completed, these projects would result in 631 new jobs, new annual payroll of $17.2 million and the retention of 1,926 jobs.

The update, published in a newsletter distributed Tuesday, reports $40.15 million in total investment has resulted from projects completed during the first nine months of the year. Those projects created 461 jobs, retained 1,349 jobs with an annual payroll of $29.4 million and resulted in 859,429 square feet of commercial and industrial space constructed or absorbed.

“So far this year, we’ve completed 768 retention and expansion visits,” the chamber said. “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 also handled development inquiries from 43 out-of-state companies and site consultants that resulted in “19 companies touring available properties throughout Mahoning and Trumbull counties.”

In summarizing its work during the third quarter, the chamber said staff pursued “several economic development leads during an invitation-only, site consultant forum in Montreal during the Association of Chamber of Commerce Executives’ annual convention in August.”

The chamber also noted the OH-PA Stateline Export Initiative “is off to a good start,” staff met with trade officials from Cuba Aug. 27 and met Sept. 4 with the director of JobsOhio’s German Foreign Direct Investment Office.

Copyright 2022 The Business Journal, Youngstown, Ohio.