Warren, Columbiana Projects Receive State Funding
YOUNGSTOWN, Ohio – Two local projects will receive state funding through programs created to support community enhancement and fuel business growth.
Balance Investment LLC will receive $665,000 through the Regional 166 Direct Loan Program to assist in financing the renovations of a 7,208-square-foot, one-story warehouse building at 2861 Sferra Ave. NW, Warren.
Balance Investment LLC is the real estate holding company formed to hold the project property and lease it to the operating company, Dawn Inc., a construction company that specializes in commercial, industrial and federal contractor services.
The project, estimated to cost $1,015,000, is expected to create four new full-time jobs and retain 34 existing jobs at the project site.
The city of Columbiana was awarded $198,000 through the Roadwork Development Grant program to support an R&L Carriers Inc. project. The project will include roadwork to relocate the truck entrance to the R&L Carriers facility at 1320 Heck Road. The new entrance will realign Nulf Drive and be located 270 feet to the west of the current entrance.
The project will accommodate increased traffic resulting from the expansion of the R&L Carriers facility and will improve safety and maneuverability at the intersection.
The project, estimated to cost $364,185, is expected to create 40 new full-time jobs and retain 480 jobs at the project site.
The funding was announced Monday by the Ohio Department of Development as part of nearly $2 million released through three state-funded programs.
Pictured at top: The site of the project in Columbiana.
Published by The Business Journal, Youngstown, Ohio.