Valley Economic Development Groups Report Investments of Nearly $500 million in 2008

August 04, 2009

Despite 2008 being a down year for jobs and growth, economic development investment in the Mahoning Valley totaled $446.3 million, according to the 2008 Economic Development Report Card being released today by the Valley’s major economic development organizations. The investments created 2,338 jobs and retained 4,195 jobs.
see press release

The Regional Chamber, in partnership with ten other agencies, compiles data on economic development investment in the Mahoning Valley. Each individual agency provides project investment, job creation/retention and notable activity that occurred within their reporting year. The collective efforts of the agencies are screened for duplication and then presented in the report card.

The Economic Development Report Card showcases the economic development activity that occurs behind the scenes, as well as the close cooperation between entities that enable projects to progress. 

 Project and Activity Recap - Select Reporting Year for more detail 

Reporting entities are:  

CASTLO
The CASTLO Community Improvement Corporation was incorporated in April 1978 in response to the permanent closing of the former Youngstown Sheet & Tube Company’s Campbell Works in 1977. Governed by an independent board of trustees, its purpose is to advance, encourage and promote the industrial, economic, commercial and civic development of Campbell, Struthers, Lowellville, Coitsville Township and Poland Township. In 1980, CASTLO acquired the former YS&T Struthers Works for conversion into the 120-acre CASTLO Industrial Park. The non-profit group has retrofitted 12 buildings and constructed two new structures to attract business and industry. Economically self-sufficient, CASTLO supports the region with its own real estate taxes and also the federal, state and municipal taxes paid by its 21 tenants’ 150 employees. A key player in the multi-jurisdictional Mahoning River Corridor of Opportunity partnership, CASTLO strives to facilitate sustainable redevelopment on approximately 1,470 acres of a former steel mill industrial brownfield straddling a five-mile stretch of the Mahoning River in Youngstown, Campbell and Struthers.
http://www.castlo.com/      ^

City of Warren
The City of Warren’s Community Development Department is charged with improving economic opportunities, creating strong and vibrant neighborhoods, and maintaining affordable housing- with the emphasis on improving the quality of life for its low to moderate income citizens. Through collaborative efforts with other city departments, government offices, non-profits and private-sector organizations, and with funding from the U.S. Department of Housing and Urban Development’s Community Development Block Grant and HOME programs, this department administers a wide range of community-based programs. The Community Development department strives to provide an array of proactive, responsive and people-oriented services by developing and maintaining partnerships with the city’s residents and other community and government agencies & organizations.
http://www.warren.org/communitydevelopment.htm      ^

City of Youngstown
The Office of Economic Development serves as a liaison for the City of Youngstown and the business community. We offer extremely competitive financial incentives to businesses wanting to locate here or for the expansion of existing businesses, and we are actively developing business/industrial parks in our region. Through careful management and efficient use of resources, our mission is to enhance the factors of productivity—land, labor, capital and technology—and to improve the quality of life for the citizens of Youngstown through economic strength, growth and vitality.
http://www.ytowndevelopment.com/ytownhome.php         ^

Eastgate Regional Council of Governments
The Eastgate Regional Council of Governments is directly responsible for a variety of federal, state, and local planning and project implementation and administration programs. As the Metropolitan Planning Organization and Areawide Water Quality Management Agency for Mahoning and Trumbull Counties, and the designated Economic Development District, Eastgate maintains required certifications and planning documents to qualify the region for federal and state funding. Eastgate performs the administration of: District 6 Public Works Integrating Committee State Capital Improvement Program, Department of Defense Procurement Program, regional Rideshare program, Clean Ohio Conservation & Revitalization Funds and the Local Development District of the Appalachian Regional Commission. Other major areas of responsibility include: air quality planning and air advisory day programs, Intergovernmental review, and local project sponsor for the Mahoning River Dredging Project.
www.eastgatecog.org      ^

Mahoning Valley Economic Development Corporation
The Mahoning Valley Economic Development Corporation (MVEDC) is a principal, private, non-profit economic development corporation, serving companies in Mahoning, Trumbull, Columbiana, Ashtabula, Geauga and Portage counties in northeastern Ohio and Beaver, Lawrence and Mercer counties in Pennsylvania. A partnership of public and private interests focused on the revitalization and diversification of the Mahoning Valley, MVEDC has assisted more than 1,500 companies, which have retained or added 16,000
jobs. Designated by the U.S. Small Business Administration as a Certified Development Company, MVEDC operates a variety of revolving loan funds or business relocation and expansion, including a mini-loan fund. MVEDC’s Technical Procurment Center assists companies to bid on federal agency contracts. MVEDC owns and develops the Warren Commerce Park in Warren and the Youngstown Commerce Park in North Jackson. These industrial parks total 411 acres. MVEDC also owns a network of industrial railroads that service industries in Mahoning and Trumbull counties.
http://www.mvedc.com/        ^

SCORE
SCORE, “Counselors to America’s Small Business,” is a non-profit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA) and has 389 chapters throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors. SCORE was founded in 1964.
http://www.score.org/index.html       ^

The Ohio Small Business Development Center At Youngstown State University
The Small Business Development Center (SBDC) program is the most comprehensive and effective business assistance network in the nation. Its purpose is to help existing businesses develop and retain a competitive advantage in the ever-changing global economy, and to help new entrepreneurs realize their dream of business ownership. SBDCs throughout Ohio enhance economic development in their regions, the state and the country. The Ohio SBDC at YSU is sponsored by YSU and its Williamson College of Business Administration. Its mission is to provide in-depth consulting and training to existing small to mid-sized companies and new business startups, and advocate for a strong and successful business community. The Center assists residents mainly in Mahoning, Trumbull and Ashtabula counties.
http://www.ohiosbdc-ysu.com/       ^

Trumbull County Planning Commission
The Trumbull County Planning Commission is authorized by ORC. Section 713 to make plans, maps and studies for the betterment of the county. Since the mid-1980’s, this has included a Revolving Loan Fund and Enterprise Zone to assist businesses with low-interest loans and tax abatements to create or retain jobs through new private investment. The county also assists businesses with public infrastructure improvements, such as the extension of water and sanitary sewer facilities and road improvements through state and federal grants and Tax Increment Financing. For the past 15 years, the county has partnered with the City of Warren and local banks to provide “mini-loans” to start up businesses through the Reinvestment Partnership Corporation.
http://planning.co.trumbull.oh.us/          ^

Warren Redevelopment & Planning Corporation
Established in 1980, Warren Redevelopment and Planning Corporation (WRAP) is a non-profit economic development corporation located in the City of Warren, Ohio. WRAP provides technical assistant to the city on economic and business development issues, owns and manages commercial properties, directs the City Design Review process and administers the city and RPC loan programs. WRAP also monitors the on-street and deck parking within Downtown Warren.
http://www.warren.org/CD_EconomicDevelopmentServices.htm      ^

Youngstown Business Incubator
Youngstown Business Incubator’s mission is to cultivate, accelerate and promote the formation, growth, commercialization and innovation of technology-based businesses by providing comprehensive, high quality entrepreneurial services and resources in a robust environment that promotes company success, attraction and retention. YBI has been integral to the success of companies that, in aggregate, have been awarded 17 intellectual property patents, developed 24 new commercial software applications, created over 230 jobs, have customers in 80 countries and have won prestigious awards.
http://www.ybi.org/        ^

Youngstown/Warren Regional Chamber
The Regional Chamber is a private, non-profit organization whose mission is to provide leadership and business services that promote the growth of our nearly 3,000 members—representing more than 150,000 employees in the Mahoning Valley—and enhance the essential partnership between economic development and education to improve our quality of life. Our Economic Development Action Team has successfully assisted some 350 new/existing entities invest more than $1.3 billion and create some 15,000 new jobs, developed more than $28 million of office and industrial real estate and led campaigns to save the GM Lordstown Complex and the 910th Airlift Wing, USAFR.
www.regionalchamber.com        ^