ECONOMIC DEVELOPMENT PROPOSAL

ECONOMIC DEVELOPMENT PROPOSAL

Information

Key facts of a proposal by Youngstown to use its water as an economic tool in Austintown and Boardman.

A 2-percent income tax would be placed on those who work in Austintown and Boardman that are served by Youngstown water. That money would go to the city.

Also, the townships could place a 0.25-percent income tax on those same people. The townships would keep that money.

If the townships used their income tax for economic development, the city would provide a dollar-for-dollar match.

Residents in the two townships would see a reduction in their Youngstown water surcharge from 40 percent to 20 percent.

Youngstown would reduce its income tax for those who live and/or work in the city from 2.75 percent to 2.25 percent.

The city would guarantee it wouldn’t attempt to annex any land in the townships if an economic development package is finalized.

Source: Youngstown city officials