Burns, Former Co-Execs Reunited; East Palestine Recovery
After we learned late last week that an agreement had been reached to sell the assets of Lordstown Motors Corp. to LAS Capital and Stephen Burns, the founder and former CEO of the EV startup and the majority equity holder of LAS Capital, Dan O’Brien provided details about the agreement and those involved.
In Lordstown Motors’ legal dispute with Foxconn, the Taiwanese tech giant this week accused the EV startup of a “shakedown.” And speaking of Foxconn, one of its potential customers, IndiEV, filed for bankruptcy this week.
From The Business Journal’s October issue, Deanne Johnson checked in on East Palestine business owners and residents and delved into the state of the village’s recovery nearly eight months after the Norfolk Southern train derailment.
With October being Breast Cancer Awareness Month, Johnson also provided a look at how the Joanie Abdu Comprehensive Breast Care Center reaches underserved women.
Also from the October issue, O’Brien examined Utica/Point Pleasant shale formation leasing and royalties. And Guy D’Astolfo explained how a brewpub and distillery are bringing life back to New Castle and how growers are on guard against the spotted lanternfly.
Here’s a look at those stories and other top stories this week from BusinessJournalDaily.com:
LAS Capital Reunites Steve Burns with Former Co-Execs
Former Lordstown Motors Corp. CEO Stephen S. Burns’ bid to purchase the assets of the company he founded would add to the portfolio of his new venture of electric-vehicle startups, which also include alumni from his previous businesses. READ
Uneasy Chug on Recovery Track in East Palestine
Nearly eight months after the Norfolk Southern toxic chemical train derailment in East Palestine, business owners and residents still wonder what the future of their town of fewer than 5,000 residents will look like.
And small-business owners still struggle to stay positive. Some days are better than others, says Kat Smith, owner of Kat’s Krystals, a new business on North Market Street. READ
Utica Leasing Up in Columbiana County, Royalties Down
Energy companies doing business in Columbiana County have exhibited a strong appetite for new lease deals with property owners across the Utica/Point Pleasant shale formation over the last year, records show.
It amounts to what is a post-COVID rush to expand or renew existing leaseholds across the county and other areas of the shale play, says attorney Alan Wenger, who oversees the oil and gas division of Harrington, Hoppe and Mitchell law firm in Youngstown. READ
Brewery, Distillery Bring Life Back to New Castle
With a new brewpub and distillery now open, nightlife is returning to downtown New Castle. Neshannock Creek Brewing and Union Station Craft Distillery both had grand opening celebrations on Sept. 23. The owners of both establishments say they’re happy to bring people back to the city and hope more businesses join them.
A third project that could soon get underway would transform the former Huntington Bank building at 101 E. Washington St. into apartments and commercial space, including a restaurant. READ
New Commerce Park Sets Course for North Jackson’s Future
A 45-acre industrial park along Mahoning Avenue in North Jackson could be the development this area needs to attract new business, officials say.
“There’s not a lot of Class A spec building space in the Mahoning Valley,” said Greg Toporcer, whose company, Top Property Holdings, is developing the park. “We’re trying to attract regional, national companies to move in this area and bring jobs and additional tax revenue.” READ
Eastern Gateway’s Fall Enrollment Down About 50% from Last Year
Eastern Gateway Community College’s enrollment is about half of what it was a year ago as it remains on probation and is on a U.S Education Department Heightened Cash Monitoring list.
But a college official says the institution is working with the education department to address issues and marketing its programs for the workforce. READ
Other Top Stories
Joanie Abdu Center Reaches Underserved Women
Growers on Guard Against Spotted Lanternfly
Foxconn Fires Back, Accuses Lordstown Motors of ‘Shakedown’
IndiEV, a Potential Foxconn Customer, Files for Bankruptcy
Vienna Company Plans $5M Expansion, Another 50 Jobs
Foundations Team Up to Benefit YSU, Mahoning Valley
Youngstown Kicks Aims for Mid-October Opening
For Jay Williams, Leadership Means Recognizing Your Shortcomings
Film About Youngstown Opera Founder David Vosburgh to Premiere
Austintown Buildings Sold for $1.25 Million
Youngstown Hires Architect for Smart2 Vault Work
Community Improvement Corp. Works to Boost East Liverpool
‘Road to Progress’ Opens in St. Clair Township
Journal Opinion: Reckoning for UAW and Industry
Column: A Dreamer’s Guide to Marketing
Acton Discusses Leadership During YSU Visit
Power Tool & Supply Co. Lands $100K State Loan
Design Review Committee OKs Nearly $70K in Façade Grants
From Around Ohio
Team NEO Partnership Targets Racial Wealth Gap
Cooler Temperatures Will Bring Colorful Foliage in Ohio
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