Economic Development

Ohio Unemployment Rate Steady at 5.1%

COLUMBUS, Ohio – Ohio’s unemployment rate in March was 5.1%, unchanged from the February report, the Ohio Department of Job and Family Services reported this morning. The unemployment last month was down from the 6.0% reported in March 2014. The national unemployment rate in March, at 5.5%, was also unchanged from February, but down from […]

Wean Foundation Essential in YBI Expansion

YOUNGSTOWN, Ohio – A $630,000 program arranged by the Raymond John Wean Foundation assisted the Youngstown Business Incubator’s expansion. Foundation officials were on hand Thursday for the official announcement of YBI’s acquisition of the former Vindicator building downtown. During the press event, Barb Ewing, YBI chief operating officer, said without Wean’s participation, the $6 million […]

YBI Envisions Its Future in Old Newspaper Building

YOUNGSTOWN, Ohio – As he toured the 57,500-square-foot structure will become the fifth building of the Youngstown Business Incubator campus, “You get a sense and an appreciation” of the history of the community, Jay Williams said Thursday. Williams, U.S. assistant secretary of commerce and administrator of its Economic Development Administration, was among the guests who […]

YBI Celebrates Acquisition of Fifth Building

YOUNGSTOWN, Ohio – The staff and directors of the Youngstown Business Incubator and its various federal, state and local partners celebrated the official announcement this morning that YBI would move forward on the fifth building of its downtown campus. Work will begin later this year to convert the former Vindicator office building, which at one […]

Williams Says YBI’s Results Justify EDA’s $3M Investment

YOUNGSTOWN, Ohio – There was much discussion among the Economic Development Administration’s staff regarding whether the agency’s administrator should come to his hometown for today’s announcement at the Youngstown Business Incubator. EDA is headed by Jay Williams, assistant secretary of the U.S. Department of Commerce, who served as Youngstown’s mayor until from late 2005 until […]

Port Authority Undertakes Hiring Executive Director

VIENNA TOWNSHIP, Ohio – John Moliterno, interim executive director of the Western Reserve Port Authority, confirmed Wednesday that he intends to apply for the position. He did so after the regular meeting of the board of directors. During their meeting, directors approved a new strategic plan that included hiring an executive director. The board also […]

Incubator’s Growth Won’t Stop at Fifth Building

YOUNGSTOWN, Ohio – The Youngstown Business Incubator’s acquisition of the former Vindicator building downtown is just the start of future expansion efforts, says its executive director. “We’ve got to think about our sixth building and seventh building,” says Jim Cossler. “We’re not going to stop growing.” The YBI purchased the former Vindicator office building at […]

YBI Pays $654,500 for Vindicator Building

YOUNGSTOWN, Ohio – The Youngstown Business Incubator paid $654,500 to buy the building at 29 Vindicator Square, owned by Vindicator Printing Co., records show. The transaction closed March 13. The asking price for the building was $700,000, according to a story in today’s Vindicator. “The price was based on the cost of renovations necessary to […]

Development ‘Coming Up Roses’ in Lordstown

LORDSTOWN, Ohio – A large swath of acreage that was once dominated by tall woods along state Route 45 is now mostly felled trees and brush, as development moves forward with a proposed industrial park on land once owned by General Motors Corp. “Right now, we’re busy cutting down trees and getting the site ready […]

Sheet & Tube Houses Eyed for Veterans Housing

CAMPBELL, Ohio – A nonprofit organization is exploring converting a complex of row houses once the homes of workers of the Youngstown Sheet & Tube Co. into housing for homeless veterans. Tim Sokoloff of the Iron Soup Historical Preservation Co. said that renovating the units would help restore a blighted neighborhood while repurposing the houses […]

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