Regional Chamber Reports $213M in Projects in 2019
YOUNGSTOWN, Ohio – The Youngstown/Warren Regional Chamber supported economic development projects that resulted in? more than $213 million of investment in the Mahoning Valley during 2019, the organization reported Friday.
Projects announced last year included local industrial expansions and several attraction projects that led to the creation of? 1,218 jobs and the retention of? 901 jobs throughout Mahoning and Trumbull counties, the chamber said in a news release.
Among companies using the chamber’s services that announced their investment in 2019 were the TJX Companies Inc., which is building its HomeGoods regional distribution center in Lordstown; Panelmatic, which recently expanded into a new building in Brookfield; and Old Dominion Freight Line, which is clearing a site for a new building in Lordstown.
The chamber economic development division has a six-person staff that covers the areas of project management, workforce development, research and government affairs.
“The team works tirelessly to support businesses throughout the Valley. They are an impressive group of professionals who make every effort to resolve issues for local companies and provide the most relevant resources to support their retention and growth,” said Sarah Boyarko, chief operating officer.
The expected economic impact for the two-county area is the creation of 4,521 direct, indirect and induced jobs, $243 million of labor income from these jobs, $645,038 in county sales tax, $590 million of spending, $4.8 million in county property tax and $816,849 in state income tax, according to the chamber.
Most projects resulted from business retention and expansion efforts, one-on-one discussions with company decision-makers about potential business opportunities or challenges they may face, which could be related to workforce, machinery and equipment, supply chain and other issues.
In addition, the chamber economic development team conducts outreach on national and international levels to attract new investment for the Valley.
The team conducts 400- to 600 retention and expansion visits annually, and submits potential properties and responds to requests for information for a range of 45 to 75 opportunities.
Pictured at top: Construction of the HomeGoods regional distribution center in Lordstown.
Copyright 2020 The Business Journal, Youngstown, Ohio.