City to OK First Batch of Incentives for Chill-Can
YOUNGSTOWN, Ohio – The city’s Board of Control this morning is expected to ratify an incentive package for the Joseph Co. International Inc.’s proposed $20 million beverage production and technology campus on the East Side.
The board will hold a special meeting regarding the development agreement approved at last night’s City Council meeting. The proposed agreement provides a $1.5 million site development grant, demolition assistance and acquisition and conveyance of property.
Mitchell Joseph, CEO of the Joseph Company, announced plans last week to construct the campus, which will include production and research and development buildings and a headquarters, in an area bordered by Oak Street, Lane Avenue, Fruit Street and Himrod Avenue. The company is developing the first self-chilling beverage can.
Yesterday, at the monthly meeting of the Western Reserve Port Authority in Vienna Township, directors were told that WRPA representatives also are in “preliminary talks” with Joseph Company regarding a role it could play in the project.
Such assistance could take the form of capital lease financing or issuance of bonds, said Anthony Trevena, director of the Northeast Ohio Development and Finance Authority, WRPA’s economic development division.
“We don’t yet know how their project is going to be structured,” Trevena said. Port authority representatives were talking to the company “right now” to set up a meeting, he said
“It would be great to have not only the company but its R&D division in the Youngstown area because of how unique it is,” said John Moliterno, executive director of the port authority. “The opportunities and the uses are endless for that technology.”
Moliterno reported he met with company officials a few months ago regarding the project and had discussions as recently as Tuesday. He also has had dinner with its owner, discussing the company’s history and the concept of the chill-can product, “which is certainly creative and unique in the industry,” he remarked.
“We will continue to have conversations about how the port authority can assist the project alongside the city and the other development groups that are going to be involved,” he said.
In addition to the incentive package the board of control will consider this morning, the city administration plans to seek a 10-year, 75% property tax abatement for the project, which is expected to create more than 250 jobs. The Joseph Company also plans to seek state assistance for the project.
Copyright 2024 The Business Journal, Youngstown, Ohio.
