Tax credit OK’d for Korff Holdings

Tax credit OK’d for Korff Holdings

SALEM

The Ohio Tax Credit Authority on Monday approved a six-year, 36 percent tax credit for Korff Holdings, LLC, doing business as Quaker City Castings.

The iron-and-steel foundry, which creates cylinder liners and various castings, expects to create 30 full-time positions and anticipates generating $700,000 in additional payroll.

It also will retain $4.5 million in existing payroll.

The credit comes as a result of the company’s expansion project in Salem.

Gas prices increase

YOUNGSTOWN

Gasoline prices are up more than 20 cents from last week at Ohio pumps.

The state’s average price for regular gas was $3.66 in today’s survey from auto club AAA, the Oil Price Information Service and Wright Express. That’s up 21 cents from the average of $3.45 per gallon a week ago.

Drivers were paying an average of about $3.34 at this time last year, before prices climbed to record highs. Some analysts believe gas prices may hit new highs in the next few months.

In Youngstown, the price for a gallon of regular-grade gas is now $3.69, up from $3.44 a week ago.

A spike in gas prices is normal in spring, but it came earlier than usual this year in large part because of world fears that the growing confrontation with Iran will crimp oil supplies.

Hermitage mall adds O.S.S. store

Hermitage, PA.

O.S.S. will open at Shenango Valley Mall on Saturday. The retailer sells books and office supplies and will occupy the former Borders Express store.

The opening follows new additions in the mall such as LA Nails Spa and Ace’s Breakaway Arcade.

Drilling training

Champion

Trumbull Career and Technical Center will host its second oil- and gas-drilling training course Thursday.

The course, Certified Energy Specialist, was created with assistance from technical advisers and leaders in the oil-and-gas industry due to increased interest for the training. Two sessions will take place from 1 to 3 p.m. and 6 to 8 p.m.

The 80-hour course covers specialized aspects of the natural-gas industry. It utilizes a short-term training regimen to assist recently displaced or unemployed workers.

Graduates can earn a SafeLand Basic Certification and the ACT National Career Readiness Certificate.

To reserve a session, call 330-847-0503, ext. 1600.

Contracts for homes rose 2% in January

WASHINGTON

The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back.

The National Association of Realtors said Monday that its index of sales agreements rose 2 percent last month to a reading of 97. That’s the highest reading since April 2010, the last month that buyers could qualify for a federal home-buying tax credit and the last time the reading was above 100.

A reading of 100 is considered healthy.

Vindicator staff/wire reports