Economic Development

Ohio Unemployment Rate Drops to 4.4% in October

COLUMBUS, Ohio – The statewide unemployment rate shed a tenth of a percentage point in October, declining to 4.4% from 4.5% in September, the Ohio Department of Job and Family Services reported this morning. A year earlier, October 2014, Ohio’s unemployment rate was 5.2%. The U.S. unemployment rate for October was 5.0%, down from 5.1% […]

Velfera Auto Design President Surveys Sites

YOUNGSTOWN, Ohio — Velfera Auto Design’s $130 million project that would bring hundreds of jobs to the region remains on track, its president, Antonio Pierce, said Tuesday. The project calls for the construction of four plants to house manufacturing and testing operations for battery powered vehicles. So far Velfera has secured letters of intent for […]

Johnson Named 422 Corridor Project Manager

YOUNGSTOWN, Ohio – Lauren Johnson has been hired as the U.S. 422 Corridor Redevelopment Plan project manager, the Youngstown Warren Regional Chamber announced Monday. The 422 Corridor plan represents a multi-faceted approach to improving the visual, economic and community impact of the corridor straddling Trumbull and Mahoning counties and the cities of Girard and Youngstown.  In […]

Ferro Building Put on Market with Lower Price

EAST LIVERPOOL, Ohio – The Ferro Louthan Building, 2000 Harvey Ave., put on the market Nov. 4 with an asking price of $500,000, has drawn considerable interest, Brian Kennedy informed the Columbiana County Port Authority Monday. Kennedy, chairman of the port authority real estate/buildings committee, told the CCPA board that he is encouraged by real […]

Chamber Seeks Applications for Funds from Capital Budget

YOUNGSTOWN, Ohio – The Youngstown Warren Regional Chamber is inviting villages, cities, townships, economic development and other nonprofit organizations and cultural entities to apply for appropriations from the state capial budget. The chamber will act as liaison between the applicants and the delegation who represent the Mahoning Valley in Columbus, says Guy Coviello, chamber vice […]

New-Car Dealers Account for 86K Ohio Jobs

YOUNGSTOWN, Ohio – New-car dealers accounted for nearly 86,000 direct and indirect jobs in Ohio last year, a study by the Ann Arbor, Mich.-based Center for Automotive Research estimates. The study, “Contribution of New-Car Dealerships to the Economies of All 50 States and the United States,” highlights the economic impact of new-car dealerships. It encompasses […]

Team NEO Projects 640,000 Job Openings Through 2025

YOUNGSTOWN, Ohio – The northeastern Ohio region will need to replace a third of its workforce by 2025, the latest quarterly review by Team NEO shows. The present local composition of the region’s workforce also remains weighted toward manufacturing and production, according to the report released this morning in Cleveland. In all, there will be […]

Velfera Advancing Project With 3rd LOI

LIBERTY TOWNSHIP, Ohio – Moving forward on a proposed $130 million electric car project remains contingent on securing additional financing, officials involved with the project say. Velfera Auto Design, a Dallas and Baltimore-based company that recently announced its intention to build commercial electric vehicles in the region, said it has signed a letter of intent […]

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