Regional Chamber Reports $23M In New Development During First Quarter
YOUNGSTOWN, Ohio – The Youngstown/Warren Regional Chamber reports that its economic development team helped complete $23 million of investment in new projects during the first quarter of 2022.
A first quarter report card distributed by the chamber shows that the organization assisted in finishing two projects worth $23,010,000 in new investment, creating 25 jobs as a result. The projects yielded $675,000 in new payroll and retained another 77 positions, preserving another $3.4 million in payroll, the report said.
These projects absorbed or led to the construction of 165,000 square feet of industrial space, according to chamber data.
To date, the chamber has fielded 19 property inquiries from companies or consultants interested in development opportunities in Mahoning and Trumbull counties.
The chamber also reported that the organization and its partner agencies have 23 pending projects totaling $1.15 billion in new investment with the potential for 1,861 new jobs. These projects would also yield another $77.3 million in new payroll, 221 retained jobs and $10.5 million in retained payroll.
Last year, the chamber reported that the organization and its development partners helped to secure $153 million in new business investment in the Mahoning Valley, creating 903 jobs and retaining 1,119 positions.
Published by The Business Journal, Youngstown, Ohio.