Wednesday, May 20, 2015
YOUNGSTOWN
The Youngstown Business Incubator’s accomplishments have caught the attention of its health insurance provider.
Medical Mutual of Ohio, based in Cleveland, donated $10,000 to the world’s No. 1 university-affiliated business incubator. The check was presented at YBI’s campus, 241 W. Federal St., Tuesday morning.
“Reading about the good things that the incubator has done, and the worldwide recognition it’s gotten, certainly did not go unnoticed at Medical Mutual,” said Ed Byers, manager of corporate communications of MMO.
The donation was made through MMO’s Mutual Appreciation program, a loyalty program that encourages the health insurance company’s 2,300 employees to buy local, which started three years ago. In that time, MMO’s employees in Ohio have driven more than $43 million through the doors of its group customers’ businesses.
Byers said it’s a win for YBI, MMO and the local economy.
In a statement, Jim Cossler, CEO of YBI, said he’s deeply grateful for MMO’s support.
“To have such a large gift from Medical Mutual, one of the most-respected companies in both the region and the country, speaks to the value they place on the work of the Youngstown Business Incubator,” he said.
Such donations help the incubator to facilitate the creation of businesses when applying for federal and state grants, said Barb Ewing, chief operating officer of YBI.
“Every program that we applied for requires matching funds,” she said.