YOUNGSTOWN, Ohio – GSP Land Holdings of North Jackson has been awarded a $500,000 Site Inventory Program grant from JobsOhio to support the construction of a new 25,000-square-foot industrial spec building on Silica Road in Austintown.
The grant was secured through the advocacy of Lake to River Economic Development.
“This grant is a win for our entire region,” said Alexa Sweeney Blackann, interim CEO of Lake to River. “Spec buildings like the one GSP Land Holdings is constructing are crucial tools in our business attraction efforts. With this investment from JobsOhio, we’re removing barriers for site selectors and giving companies more reasons to choose our region.”
Blackann said Lake to River, the JobsOhio partner that covers Mahoning, Trumbull, Columbiana and Ashtabula counties, “stands ready to support this type of development by helping to identify and secure a tenant that brings new jobs and long-term value to our community.”
The site is one of the last vacant large parcels of industrial land in Austintown, and it also received a 10-year, 60% property tax abatement from the township. The structure, a pre-engineered metal building, will be designed to accommodate a range of industrial tenants.
“With help from JobsOhio, our township and our great partners at Lake to River, we’re constructing a building to serve as a launchpad for new economic activity and new jobs,” said Joe Cetor, co-owner of GSP Land Holdings. “This project and investment reflect our continued belief in the strength of small business, manufacturing and the future of the Mahoning Valley.”
This will be the third and largest pre-engineered metal building that Cetor and his business partners have constructed in the past several years, all within the Lake to River region.
JobsOhio created the OSIP program to address the shortage of development-ready industrial space across the state. By providing upfront capital to support speculative projects, OSIP helps communities compete for economic opportunities that require speed to market.
“With high occupancy rates in the Mahoning Valley, companies need space to make it easier to create new jobs, investment and opportunity,” said J.P. Nauseef, JobsOhio president and CEO. “This new spec building at Silica Road will deliver much-needed inventory to the area, making it easier for companies to seize the region’s unique advantages in advanced manufacturing, 3D printing and battery technology.”