Chamber releases 1Q economic development report

Chamber: $1.6M invested in 1st quarter

Staff report

YOUNGSTOWN

The Youngstown/Warren Regional Chamber released its results for economic development in the first quarter of 2015.

For completed projects, $1.6 million was invested into 96,607 square feet of space constructed or absorbed.

Company investment did not result in any job growth, said Sarah Boyarko, the chamber’s vice president of economic development.

The chamber is managing an array of projects that it hopes to announce within the next 12 to 24 months, she said.

Pending projects include more than $1.5 billion in total investment that would produce 1,318 new jobs and more than $56 million in new annual payroll. The investments also would retain 2,608 jobs with more than $106 million in annual payroll.

Additionally, there have been 18 out-of-state inquiries from companies or consultants interested in the area, Boyarko said.

From those inquiries, there were six companies touring available properties.

Further, the construction of Ontario-based Matalco’s 200,000-square-foot facility in Lordstown is underway and is slated to be completed in 2016. The facility will create 60 full-time jobs.

Boyarko said the chamber has made strides at the international level this year. On March 16, the chamber presented to eight Chinese manufacturing firms that are interested in opportunities in Northeast Ohio.

“We’re starting off the year right,” she said.