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Youngstown board of control OKs funds for four companies
YOUNGSTOWN
The city’s board of control agreed to provide money to four companies either relocating, expanding or improving their operations in Youngstown.
On Thursday, the board accepted a $250,000 grant from the state and agreed to spend $31,856 in city funds for road improvements to the entrance to Exterran Energy Solutions, which is building a plant in the city’s Salt Springs Industrial Park.
The road improvements are needed to accommodate increased truck traffic and vehicle access, said T. Sharon Woodberry, the city’s economic development director.
Exterran makes natural-gas compression production equipment and plans to create 103 full-time jobs at the Youngstown facility. The company is spending about $13.2 million for this project.
Also Thursday, the board gave Taylor-Winfield Technologies a 75-percent, 10-year real-property tax abatement for a $1.95 million expansion project at its Salt Springs Industrial Park location.
The company, a metalworking-machinery company, is moving its administrative and engineering office from rental space in Hubbard to the Youngstown location, which it owns. The company is building a 16,500-square-foot facility for the 34 full-time and three part-time workers relocating from Hubbard, Woodberry said.
The company would save $383,250 in real-property taxes and pay $127,750 over the 10 years of the abatement.
Taylor-Winfield has about 40 full-time workers at the Salt Springs Industrial Park.
The board of control approved giving $70,000 to the law firm of Green Haines Sgambati Co., which is consolidating its offices at Westchester Drive in Austintown and the former PNC Bank Building in downtown Youngstown to City Centre One at 100 E. Federal St., also in downtown Youngstown.
The money would pay most of the $115,000 cost for consolidation and relocation.
The project will retain the company’s 17 city workers and bring 15 employees from Austintown to Youngstown.
Also, the board approved giving $5,088 for exterior building improvements to Kiraly Tool and Die Inc.
Kiraly’s project costs about $12,720 and includes landscaping, installing a security fence and power-washing the exterior of its building on Crescent Street.
Kiraly plans to hire four new full-time workers.
The company is a custom fabrication tooling and machine-work business primarily for the aluminum-extrusion industry.