$2.3B in Development Projects Pending in Valley
YOUNGSTOWN, Ohio – The Youngstown/Warren Regional Chamber reports 27 economic development projects are pending that if all come to fruition would result in a total investment of nearly $2.3 billion and 2,000 new jobs.
The forecast was released today in the chamber’s economic development newsletter.
Year-to-date, six development projects have been completed for a total investment of $74.5 million, 131 new jobs and 484 retained jobs, the chamber reports. These projects have a combined new annual payroll of $3.5 million and retained payroll of $419.5 million.
The pending projects would bring $55.2 million in new annual payroll and in addition to nearly 1,986 new jobs would retain 2,046 jobs, the chamber reports.
Meanwhile, chamber staff has completed 275 retention and expansion visits that determine business needs in regard to financing, grants, tax credits and local resources.
Twenty companies have toured available properties across Mahoning and Trumbull counties, according to the newsletter. The chamber received 51 out-of-state inquiries from companies or consultants interested in exploring opportunities in the Mahoning Valley.
Copyright 2022 The Business Journal, Youngstown, Ohio.