Local News

Monday, January 5, 2015

EAST LIVERPOOOL, Ohio -- Tri-State 1st Banc Inc. has completed the spinoffs of two of its subsidiaries, Gateminder Corp. and the assets of Cooper Insurance Agency Inc., Steven R. Sant reported Friday. Sant is the president and CEO of Tri-State and its largest subsidiary, 1st National Community Bank. Minor Insurance Group LLC, acquired the assets of the Cooper agency, Sant said, and Gateminder was sold to its president and CEO, Lance Lang. Gateminder offers turnkey services to financial institutions and ATM maintenance. Tri-State is retaining its other subsidiary, MDH...

Monday, January 5, 2015

YOUNGSTOWN, Ohio -- Paul Hagman’s favorite spot in Youngstown is Central Square. As he stands there, the owner of RBF CoLab Architecture and Design can see the history of the city and the intricate details of the landmark buildings downtown. On the northeastern corner is the Stambaugh Building, built in the neo-classical style in 1907 with a bright white brick exterior. That is the structure Dominic C. Marchionda and NYO Property Group is converting to the first hotel in the downtown in five decades. West on Federal Street is the Wells Building, another historic...

Monday, January 5, 2015

HUBBARD, Ohio – NanoLogix Inc. reports the Saudi Arabian Food and Drug Administration has approved the company’s Petri-based products for import and use in Saudi Arabia. Nasaem AlJazira Co. is the sole designated distributor for NanoLogix products in the Kingdom of Saudi Arabia. The approval follows months of testing in Saudi Arabia and pursuit of approval by Nasaem AlJazira. The process required a large expenditure on Nasaem AlJazira’s part, multiple trips to the United States and multiple trips by NanoLogix management to Washington, D.C. for processing required by...

Monday, January 5, 2015

COLUMBUS, Ohio -- The number of single-family homes and condominiums put under agreement in November rose 5.1% from the level posted during the month a year ago, the Ohio Association of Realtors reports. The rate of purchase contract signings in November was up 13.3% from the pace recorded in October 2014. Pending home sales in the state during November, based on contract signings, increased 5.1% from November 2013. Activity in November jumped 13.3% from the pace of agreements reached in October 2014. A sale under agreement, also known as a pending sale, is when the...

Thursday, January 1, 2015

YOUNGSTOWN, Ohio -- Officials in Warren and Girard will use funds from a $600,000 EPA grant secured by the Western Reserve Port Authority-led Trumbull County Brownfield Coalition to begin the process of reclaiming two parcels of land that have long-blighted the two communities, reports WRPA's executive director, John Moliterno. The WRPA/TCBC approved allocating $120,000 to the city of Girard that will be used to perform a Phase II environmental assessment of the 26-acre site fronting U.S. Route 422 that was once occupied by the Ohio Leather C. The city of Warren will...

Wednesday, December 31, 2014

Author:  Josh Medore YOUNGSTOWN, Ohio -- For the first time, a portfolio company at the Youngstown Business Incubator has received an investment from outside the United States. SalesKatz, housed in the incubator, has a $200,000 commitment from a private equity investor in London, its CEO, Ken Zebracki, said Tuesday. “I think they understood the need [for our product], having been businessmen themselves,” he said. “I've seen so many salespeople fail. It's because they don't know when the next sale is coming. By virtue of having a...

Wednesday, December 31, 2014

Author:  Josh Medore YOUNGSTOWN, Ohio -- Long before the steel industry retrenched, this city was losing residents. Every census since 1950 -- when the city’s population peaked at 168,330 --– the number fell each time heads were counted. What began as small losses turned into giant ones as the old mills were razed. Since 1970, each decennial count has shown the population dropped at least 16% and that those who remained were older on average than the nation. The city lost something more than its young people. It lost their brains. Now...

Wednesday, December 31, 2014

BROOKFIELD, Ohio -- The Strimbu Memorial Fund awarded nearly $175,000 in grants to area organizations and individuals in 2014, the fund announced at its annual distribution committee meeting. “The Strimbu Memorial Fund was created to perpetuate the work of the late Nick Strimbu Jr., who had a passion for leading individuals and economic development agencies in order to attract, assist and retain the industrial base of the valley,” said Paul O’Brien, board president. Since its inception in 1990, the Strimbu Memorial Fund has provided millions of dollars in donations...

Wednesday, December 31, 2014

SANTA MONICA, Calif. -- The pace of auto sales in December accelerated to a seasonally adjusted annualized rate of 16.9 million new units. The total was lifted by a strong economy, extended holiday promotional campaigns and mild weather conditions in most of the United States. New light vehicle sales (including fleet) should reach 1,490,100 units for the month, up 9.5% over a year ago, according to a forecast from TrueCar Inc. On a daily selling rate basis, with one more selling day this December, deliveries likely are up 5.3%. "With the strongest demand in a decade...

Tuesday, December 30, 2014

Author:  George Nelson YOUNGSTOWN, Ohio -- Corrections Corporation of America has requested a meeting as soon as this week with the Federal Bureau of Prisons for an official explanation on why it lost the contract that accounts for the vast majority of its inmates at its Northeast Ohio Correctional Center here, Mayor John McNally said Monday.    The contract to house illegal aliens was awarded to Moshannon Valley Correctional Center in Philipsburg, Pa., and Great Plains Correctional Facility in Hinton, Okla., Chris Burke, a spokesman...

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