Chamber: 2020 Projects Valued at $2.8B; Plenty More in Pipeline
YOUNGSTOWN, Ohio – The Youngstown/Warren Regional Chamber aided in 24 completed projects valued at more than $2.8 billion in investment, with another $1.2 billion worth of projects in the pipeline.
In its “2020 Year in Review,” the chamber said projects completed last year created 3,203 new jobs with a payroll of $158.8 million and retained 1,285 jobs with a payroll of $50.5 million.
There are 22 pending projects with a projected investment of $1.2 billion. These projects would create 3,481 jobs with $167.6 million in payroll and retain 532 jobs with $31.3 million in payroll.
Among the projects highlighted by the Regional Chamber are the Ultium Cells battery plant in Lordstown, a $2.3 billion project that’s expected to employ more than 1,100 when production fully starts in 2022; M&M Industries’ $37 million investment in the former Magna Seating site in Lordstown that will include the installation of new machinery and the addition of a rail spur; and Western Reserve Transit Authority’s expansion of service into North Jackson and Lordstown.
Last summer, the chamber inked a 12-month economic development contract with the Trumbull County Board of Commissioners and a separate agreement with the Mahoning County Community Improvement Corp. to oversee business retention and expansion efforts in the counties.
In releasing its annual report, the chamber noted that Shea MacMillan, manager of business development, has earned his certification as an Ohio Certified Economic Developer through the Ohio Economic Development Institute. The two-year course included education on basic economic development, real estate development, site selection, finance and incentives, business retention and expansion. His capstone project was a deep analysis of the area’s rail infrastructure.
In addition, the chamber was presented with the Ohio Economic Development Association’s Excellence in Marketing & Communications Award for a pair of events in January and February 2020 to connect potential suppliers with Lordstown Motors Corp. The events drew more than 800 people from 600 companies across 19 states and three foreign countries.
Read the Youngstown/Warren Regional Chamber’s full “2020 Year in Review” report HERE.
Published by The Business Journal, Youngstown, Ohio.