Hail the Valley’s rebirth

If you had told me two years ago that at midnight on a rainy Tuesday night, I’d be finding my way from the Royal Oaks to the Downtown Draught House driving a rented minivan full of Israeli cleantech pioneers and a New York City private equity executive while Journey’s “Don’t Stop Believin’” is blaring through the speakers, I would have thought you should be committed. But it was actually happening, and if that wasn’t symbolic of what the Mahoning Valley Renaissance is, I don’t know what would be.

For years, Youngstown and Warren were seen by outside executives only when they were daydreaming out the window of their LA-to-New York transcontinental flights. Truth be told, why would they have stopped by? Rational and ethical business could be had elsewhere profitably, with little need to have to deal with the systemic corruption and cronyism that the area used to have at the helm (with some notable exceptions, including an underappreciated Pat Ungaro).

Fast forward to this past Monday, when at the Butler Institute of American Art we celebrated the first imprint of our Chamber’s international efforts. Two men who understand the potential of this area, Mike Garvey and Jack Scott, signed a memo of understanding with one of Israel’s leading incubators for clean technology, LN Green Technologies of Haifa. These men have dedicated themselves to making a difference in bringing new jobs to the area, while at the same time intending to make a profit. That “emotional capitalism” is what the Valley needs more of, especially when the capital deployed is taking risks in new industries with the potential for reward to benefit the many employees in the area who need it.

Business leaders

As someone whose job it is to bring international investment to the area, I am so happy that we have sophisticated business leaders who can carry the ball with their foreign counterparts. This way we are able to then focus on taking our marketing efforts to new directions, like Germany and France, who have sophisticated middle-market companies who would like appropriate guidance on coming to the U.S.

Considering my past career was in leveraged finance in New York, I was especially happy that we were able to have Hudson Ferry Capital in town in conjunction with the YSU Forum. If we are to grow this Valley in new technologies, we must let the providers of capital know that the Valley is open for business. Having a panel discussion with regional (BlueTree out of Pittsburgh), national (Hudson Ferry), and international (LN Green) providers of capital was educational for the attendees and the panelists. The swapping of engineering ideas and finance terms took place in Kilcawley Center and the Stadium Club, and everybody walked away a bit better for it.

The evening ended with a chat outside the Draught House on the future of the Valley. I explained to them that the old Paramount Theater is set to be partially torn down, and there is a movement to save the fa ßade and to use it as an amphitheater stage with green space behind. They loved the innovation in that use, and recognized how that would be an attractive asset to lure young professionals downtown. As I gazed down Federal Street, I thought about how the Valley will be a greater player in the economy of this world, on how the export of homegrown ideas will be the Valley’s newest trade, and how Warren and Youngstown’s place in commerce will not be on the outskirts, but in the center.

Driving the delegation back to the wonderful Holiday Inn in Boardman, Warren’s native son Dave Grohl was on the radio, and I certainly wanted the energy of this night to be “Everlong.”

Planey is vice president, International Business Attraction, for the Youngstown-Warren Regional Chamber.