More than $153M Invested in Youngstown-Warren Region Last Year
YOUNGSTOWN, Ohio — Private companies invested more than $153 million in the Mahoning Valley in 2021, many with the aid of regional economic development agencies, according to data from the Youngstown/Warren Regional Chamber and its partners.
In the 2021 Economic Development Report Card, the chamber reports $153,618,060 was invested in 117 projects in Mahoning and Trumbull counties, creating 903 new jobs and retaining 1,119, according to a press release.
“The report card is used to inform our community about the diverse economic growth throughout the two-county area,” Sarah Boyarko, chief operating officer of the chamber, said in the release. “The participating entities work collectively to support businesses to help make these investments a reality, and the report card and information provided are always well received.”
Each year, the chamber and 16 other economic development agencies gather data on economic development investment in the Valley. The agencies assist companies with infrastructure investment, tax incentives, loans, project coordination, grant oversight, technical advisement, property development and other services, according to the release.
“Economic development in Trumbull County and the Mahoning Valley as a region requires a team effort from all agencies,” said Julie Green, director of the Trumbull County Planning Commission. “The report card is a great way to recap the economic growth, job creation and investment that occurred, along with the collaborative outcomes from our partners over the past year.”
Each agency provides project investment for business attraction, retention/expansion and/or startup, job creation/retention and notable activity that occurred within the reporting year.
“The report card is an invaluable tool that we use to help us keep our eyes on the pulse of diversity in business and supply chain opportunity,” said Vern Richberg, director of supply chain diversity at the Youngstown office of the Ohio Department of Development, Youngstown/Warren Minority Business Assistance Center. “For our team, the report is both useful and informative and reflects a complete picture of the vibrancy and durability of business in and around the Mahoning Valley.”
Published by The Business Journal, Youngstown, Ohio.