Tuesday, November 25, 2014
Chamber project data
YOUNGSTOWN
The Youngstown/ Warren Regional Chamber’s year-to-date results from its November economic- development newsletter include the following for completed projects: total investment: $121,120,680; new jobs: 479; new annual payroll: $24,650,840; retained/ maintained jobs: 450; retained/maintained payroll: $11,984,000; space constructed or absorbed: 1,050,781 square feet. For pending projects: total investment: $1,368,281,000; new jobs: 976; new annual payroll: $40,370,079; retained/maintained jobs: 2,038; retained/maintained annual payroll: $85,803,302; space constructed or absorbed: 1,571,060 square feet.
Industrial land sale
LORDSTOWN
The agreement of sale on 173.5 acres of vacant industrial land to NorthPoint Development of Missouri officially closed Nov. 21, RACER Trust said Monday. RACER — Revitalizing Auto Communities Environmental Response — Trust announced Nov. 10 that it had reached an agreement with the company for the purchase and development of the property.
This is the second property NorthPoint has purchased from RACER Trust, which was created in March 2011 by the U.S. Bankruptcy Court to clean up and position for redevelopment properties and other facilities owned by General Motors before its 2009 bankruptcy, according to the RACER website.
A new industrial park will be developed on the Lords-town property adjacent to the General Motors plant with the potential to employ up to 1,500.
Staff reports