Mahoning commissioners help spur V&M development

YOUNGSTOWN — Mahoning County commissioners agreed to have their $10.4 million tax-exempt recovery zone facility bond allocation used in Trumbull County for V&M Star’s $650 million expansion.

That allocation, which comes from federal stimulus money, is to be used together with $8.4 million from Trumbull County’s allocation toward construction of a new pipe mill on land within Trumbull County that was annexed from Girard to Youngstown for the project.

V&M will pay back the low-interest loan at a rate and in a time period yet to be determined, said Walter M. Good, vice president of the Youngstown/Warren Regional Chamber.

This money is separate from the $20 million in stimulus funding initially committed to site preparation for the V&M project, Good said.

In today’s resolution, the commissioners returned their allocation to the state for use in Trumbull, where the majority of V&M’s expansion will occur.

For the complete story, see Thursday’s Vindicator and Vindy.com