Local News

Wednesday, October 29, 2014

Author:  Michael Moliterno AKRON, Ohio -- Every day the world’s oil reserves get smaller as the demand for energy grows. Vadxx Energy LLC, about to begin operating what it says will be the first-of-its-kind plant to run 24/7, sees that as an opportunity, not a problem. Petroleum might be a resource that can be exhausted, but plastic trash is seemingly inexhaustible. The technology Vadxx has developed converts plastic waste to synthetic oil. “We’ve tested everything from tires to auto shredder residue, to sterilized hospital waste,”...

Wednesday, October 29, 2014

CLEVELAND -- Regional economic development activities in northeastern Ohio contributed to 16 successful business attraction and expansion projects during the third quarter, Team NEO reported this morning. The 16 projects cited in the third-quarter Regional Economic Development Report included Matalco Inc.’s groundbreaking in Lordstown last month, resulting in the creation of 60 jobs for a payroll of $4 million and capital investment of $85.7 million. The report is based on activity reported by JobsOhio, Team NEO, major city chambers of commerce and economic...

Wednesday, October 29, 2014

Author:  Josh Medore BOARDMAN, Ohio -- As it celebrated its 35th anniversary, the Mahoning Valley Economic Development Corp. honored The Business Journal and its publisher, Andrea Wood. Founded in 1984, The Business Journal was recognized as “Mahoning Valley Business of the Year.” The publication, which was originally known as the Youngstown Business Journal, was created to change the narrative of Youngstown and the Mahoning Valley in the wake of the steel shutdowns that began in the mid-1970s, Wood recalled. “Our idea was to replace...

Wednesday, October 29, 2014

Author:  Dan O'Brien YOUNGSTOWN, Ohio -- New equipment recently installed in Youngstown State University's X-Ray Diffraction Laboratory places the institution "second to none" among universities in Ohio and among the best in the country when it comes to materials analysis, officials say. "The importance comes from the work we do with local companies and especially the students who are trained in using the facility," said Allen Hunter, professor of chemistry at YSU. Several local companies are using the lab to examine materials that...

Wednesday, October 29, 2014

COLUMBUS, Ohio -- William Cann, Trumbull County manager of business development for the Youngstown Warren Regional Chamber, was voted in as an Ohio Economic Development Association board member and area director for the Northeast Region for 2015. Cann, of Austintown, has been with the Regional Chamber since 2012. He earned his bachelor’s degree and master’s in business administration from Youngstown State University. He will replace Sarah Boyarko, vice president of economic development, North America, for the Regional chamber. Her term expires in December. The OEDA...

Wednesday, October 29, 2014

WESTLAKE VILLAGE, Calif. -- New-vehicle retail sales are expected to reach their highest level for October since 2004, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive. Retail sales of new vehciles are projected to come in at 1.1 million units, a 6% increase compared with October 2013. The retail seasonally adjusted annualized rate in October is expected to be 13.6 million units, 700,000 units stronger than October 2013. Retail transactions are the most accurate measure of the underlying consumer demand for new vehicles. "The...

Wednesday, October 29, 2014

YOUNGSTOWN, Ohio -- U.S. Rep. Tim Ryan called on the U.S. Food and Drug Administration to enact a clearer and more tangible way to label the sugar content in foods by changing the measurement to teaspoons instead of grams to make it easier for consumers to conceptualize the true amount of sugar in a product. Ryan, author of The Real Food Revolution, sent a letter to FDA Commissioner Margaret Hamburg calling for the change earlier this week. “This is a small, but important step on the road to better health for all of us,” Ryan, D-13 Ohio, said. “The best way to reduce...

Wednesday, October 29, 2014

YOUNGSTOWN, Ohio -- The International Traffic in Arms Regulations/Export Administration Regulations Program, sponsored by the International Trade Assistance Center at Youngstown State University, is set for 8 a.m. to 5 p.m. Nov. 5. Robert Imbriani, whom YSU describes as “an expert on export controls under the International Traffic in Arms Regulations, the Export Administration Regulations and other U.S. export control laws and regulations,” will present the program. The seminar is intended to provide those who attend with “a solid understanding of export compliance...

Tuesday, October 28, 2014

NILES, Ohio -- First Niles Financial Inc., holding company for Home Federal Savings and Loan Association of Niles, reports net income of $22,000 for the three months ended Sept. 30, compared to a loss of $170,000 for the same period in 2013. That's an increase of $192,000, the company said. First Niles also reportes net income for the first nine months of 2014 was $193,000 compared to a loss of $307,000, an increase of $500,000. Higher net income in the most recent quarter and year-to-date figures primarily result from increases in net interest income and non-...

Tuesday, October 28, 2014

SAN FRANCISCO -- Businesses owned by women often face different challenges than their male counterparts, a new study has found. Despite the hurdles they face, 85% of female small-business owners say they would dive into running their own businesses all over again if given the chance, according to the "Pay It Forward" survey commissioned by Bank of the West. Although women put in more effort in preparation, female business owners said that they did not fully immerse themselves in knowing the economic ramifications of starting a business. Only 39% of women (compared to...

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