Regional Chamber Aids Nearly $1B in Projects YTD
YOUNGSTOWN, Ohio – The Youngstown Warren Regional Chamber has supported nearly $1 billion in new investments in the Mahoning Valley through the first three quarters of 2016, according to its quarterly economic development newsletter.
In total, projects completed so far this year are responsible for $953,654,210 of investment, 385 new jobs, $18,394,000 in new payroll, 497 retained jobs and $18,381,952 in retained payroll. The value of pending projects, the chamber reports, is $2,028,190,428, with the potential for 1,270 new jobs and 2,287 retained jobs.
The chamber reports it has received 62 inquiries from out-of-state companies and consultants this year, resulting in 16 site tours in Mahoning and Trumbull counties. Also completed were 382 retention and expansion meetings with companies in the Mahoning Valley.
In March, the chamber submitted 40 sites in Mahoning and Trumbull counties to the SiteOhio program for review and consideration to be marketed as “client-ready.” While none of the sites were accepted into the program, Sandy Homrighouse, an economic development specialist with SiteOhio, has started to meet with the owners of the some of the properties to discuss why the sites were not selected. Homrighouse will resubmit the sites for reconsideration, the chamber says.
A new grant, the JobsOhio research and development grant, is now available for Mahoning Valley businesses to apply for. The grant is available for projects that “support the development and commercialization of emerging technologies and/or products that align” with the agency’s nine targeted industries.
The full newsletter – which features information on scheduling retention and expansion meetings and the chamber’s partnership with the Manufacturing Advocacy & Growth Network – can be found here.
Copyright 2024 The Business Journal, Youngstown, Ohio.
