Port Authority Renames Its Development Division

YOUNGSTOWN, Ohio – The Western Reserve Port Authority Board of Directors today formally announced the new name of its economic development division: Northeast Ohio Development and Finance Authority.

The board took the action Feb. 17 as one aspect of the port authority’s new branding campaign it’s taking with the help of Farris Marketing, Boardman. Forming the new identity is one in a series of marketing and branding initiatives to be rolled out soon, including a revamped website under development.

“The Western Reserve Port Authority has been growing its economic development sector activities since 2009,” said Sam Covelli, chairman of the economic development committee, in a statement. “It is time to distinguish these efforts from other activities under the purview of WRPA and give this valuable community resource its own identity — one that better describes what we do.”

Individuals and businesses outside the region looking to increase their within Mahoning and Trumbull counties might find it confusing to be directed to a port authority, most such entities best known for operating ports and transportation centers, Anthony Trevena, director of economic development, said.

Among the financing services the Northeast Ohio Development and Finance Authority offers are capital leasing, property assessment clean energy financing, tax increment financing and conduit revenue bonds. Tax abatements, through enterprise zones and foreign trade zones, are also available.

The port authority and its economic development professionals also are partners in several community development projects, among them the Mahoning River Consortium, the Mahoning River Corridor Mayors’ Association, Mahoning Valley Partnership, and the Trumbull County Brownfield Coalition.

Copyright 2024 The Business Journal, Youngstown, Ohio.