BUSINESS DIGEST ||
Mall income up
BOARDMAN
Washington Prime Group, operator of Southern Park Mall, reported net income of $135.5 million for the second quarter of 2017, up from $17.8 million reported during the second quarter of 2016.
The year-over-year improvement was largely attributable to a net gain of $125.4 million primarily related to the formation of an additional joint venture with O’Connor Mall Partners.
Funds from operations for the second quarter of 2017 were $110.6 million, up from $98.1 million made last year.
Enterprise zone
WARREN
Trumbull County commissioners Wednesday approved an enterprise zone agreement for Dawn Inc., a construction company at 106 E. Market St.
The company, which is owned by Dawn Ochman, is receiving a 10-year, 75-percent reduction in property taxes for a 7,600-square-foot office building and workshop it will build in an industrial park on Sferra Avenue Northwest.
The project, which will cost between $575,000 and $750,000, will allow the company to retain 23 employees and hire an additional three. The additional payroll will be $150,000, said Nicholas Coggins, who is in charge of economic development for the county planning commission.
Sales Tax Holiday
NILES
Ohio’s Annual Sales Tax Holiday is scheduled for Aug. 4 through Aug. 6.
Throughout that weekend there will be no sales tax on any item of school clothing costing less than $75 or school supply up to $20.
On Aug. 5, shoppers at Eastwood Mall will have the chance to meet some of their favorite superheroes from The Justice League. Superman, Batman and Wonder Woman will be visiting the mall that day from 11 a.m. to 5 p.m. Parents and children are encouraged to stop by Center Court for an autograph or a photo. Children wearing their favorite superhero costumes will have the chance to win a mall gift card.
Trump announces $10 billion Foxconn plant in Wisconsin
WASHINGTON
President Donald Trump said Wednesday that electronics giant Foxconn will build a $10 billion factory in Wisconsin that’s expected to create 3,000 jobs. The announcement comes at a critical juncture for a Trump administration that pledged to generate manufacturing jobs but has struggled to deliver results as quickly as the president promised.
FDA Panel: Not enough data to OK newest opioid
TRENTON, N.J.
Food and Drug Administration advisers have recommended against approving a new opioid painkiller intended to deter abuse with a unique feature. It releases a sticky, deep-blue dye if someone tries to get high by crushing, chewing or snorting pills. Panelists voted overwhelmingly Wednesday against approving Intellipharmaceutics International’s generic version of extended-release Oxycontin, a key drug in the U.S. opioid addiction epidemic.
Staff/wire reports
Selected local stocks
STOCK, DIVIDENDCLOSECHANGE
Alcoa Inc., .1236.63-0.67
Aqua America, .71 33.430.08
Avalon Holdings,2.33-0.03
Chemical Bank, .2748.30-2.15Community Health Sys. 8.46 -0.25
Cortland Bancorp, .2817.65-0.12
Farmers Nat., .1614.35-0.40
First Energy, 1.44 31.100.23
Fifth/Third, .5226.18-0.41
FirstMerit Corp.,--
First Niles Financial, .1210.500.40
FNB Corp., .4813.62-0.26
General Motors, 1.5235.620.05
General Electric, .9225.590.15
Huntington Bank, .28 13.18-0.22
iHeartMedia Inc.,1.300.00
JP Morgan Chase, 1.9291.93-0.87
Key Corp, .3418.03-0.45
LaFarge, .34--
Macy’s, 1.51 23.540.05
Parker Hannifin, 2.52 164.66-1.32
PNC, 2.20127.36-1.97
Simon Prop. Grp., 6.60163.772.20
Stoneridge 15.61-0.14
United Comm. Fin., .12 9.22-0.08
Selected prices from Wednesday’s 4 p.m. close.