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Regional Chamber forecasts $2.1 billion investment in Valley next year
BOARDMAN
The Youngstown/Warren Regional Chamber reports that companies locating or expanding their facilities here invested nearly $120.6 million in the Mahoning Valley this year and created 215 new jobs.
Those numbers were part of the chamber’s annual Economic Forecast, given to members at a breakfast event Wednesday at Mr. Anthony’s Banquet Center.
“Throughout 2018, the Mahoning Valley experienced significant economic growth,” said Sarah Boyarko, the chamber’s chief operating officer. And, she said, “The forecast for 2019 is promising.”
With several major projects slated to start construction next year, the chamber forecasts $2.1 billion in investment in 2019. Boyarko noted all 22 of those projects are in the industrial sector, mostly in manufacturing.
“What this tells us is manufacturing is alive and well in the Mahoning Valley,” she said.
The chamber forecasts the projects slated for 2019 have the potential to create 1,700 new jobs and to retain 1,674 positions.
Some projects the chamber highlighted include a new $11 million PurFoods fulfillment center in North Jackson that is set to open next year; the expected groundbreaking early next year for a $170 million HomeGoods distribution center in Lordstown; and plans to build Trumbull Energy Center, a nearly $1 billion natural-gas-fired electricity plant, in Lordstown.
The audience also heard from Chris Cwiklinski, senior vice president and director of portfolio management for First National Bank Wealth Management’s Cleveland region.
Cwiklinski discussed how President Donald Trump’s policies, such as putting in place tariffs against some U.S. trade partners, are expected to impact consumers and investors.
Noting that his clients are expressing some anxiety about the issue, Cwiklinski said, “We don’t think tariffs are going to result in any kind of runaway inflation at this point.”