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Youngstown touted as major U.S. exporter

The Brookings Institution released an extensive report that detailed several key export trends in which the Youngstown metro area was among the country’s top performers, ranking it No. 1 in export growth between 2009 and 2012.

Get the whole story here.

YBI ranked 11th in world by University Business Incubators Index

NAMII, the National Additive Manufacturing Innovation Institute, and driven by the National Center for Defense Manufacturing and Machining (NCDMM), congratulated its partner and member, the Youngstown Business Incubator (YBI), on its being named one of the top 25 incubators in the world by University Business Incubators Index. YBI was ranked 11th.

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Fyrware campaign aims to bolster Youngstown's economic renaissance

Youngstown is making a comeback with business-to-business software as one of its pillars for economic growth. To that end, the Youngstown-based software group, Fyrware, LLC, is announcing their new “Blazing the Trail for Technology” campaign. The goal is to assist Youngstown’s economic renaissance as it continues to flourish.

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New projects to create 591 Ohio jobs

Governor Kasich today announced the approval of assistance for nine projects set to create more than 591 jobs and retain 943 jobs statewide. During the Ohio Tax Credit Authority’s monthly meeting, it reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Together the projects are expected to result in more than $29 million in new payroll and $40 million in investment across Ohio.

Get a list of the projects approved here.

Oil and gas industry turns attention to Upper Devonian shale formation

A mix of organic-rich shale and sandstone rock above the Marcellus formation, first tapped for natural gas in the early 1800s, is once again gaining the attention of exploration and production companies operating in both Ohio and Pennsylvania.

Get the whole drill here.

Collaborative efforts fuel northeast Ohio growth for second quarter 2013

Regional economic development efforts across Northeast Ohio continued to spur growth for the region’s economy in the second quarter of 2013 by attracting five organizations into the region – including Daisy Brand LLC and GE Oil and Gas, Inc. – and facilitating the expansion and/or retention of eight others, reports the Q2 2013 Regional Economic Development Report released by Team NEO.

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Ohio firms reel in $94m in venture capital for 2013's second quarter

Venture capital investing in Ohio was up in the second quarter, even as numbers dipped nationally, according to a new report.

Nationally, $6.7 billion went to 913 deals. That’s down from $7.3 billion and 970 deals in the same quarter a year ago, according to the PwC/NVCA MoneyTree Report, which is based on data from Thomson Reuters. In Ohio, 20 deals accounted for $94 million of investment, up from 17 deals and $52 million a year earlier.

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Trumbull County approves tax abatement to welcome company's $2.5m expansion

Trumbull County Commissioners have approved a 75 percent tax abatement requested by a Hubbard company planning to expand. VEC/Evets Electrical Inc. wants to invest $2.5 million to expand it's facility on Erie Street in Hubbard.

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Retail expansion continues in Mahoning Valley

The new ULTA Beauty and Texas Roadhouse are scheduled to open in the early fall in the Eastwood Complex, said Joe Bell, spokesman for The Cafaro Co. In addition, the Dairy Queen Grill and Chill across from Eastwood Mall is scheduled to open today. The Men’s Wearhouse store opened in early June, Bell said. Another business in Eastwood, Shoe Department, is expanding into an adjacent space with its new concept store, Shoe Department Encore.

“They were able to get that store open a lot faster than expected,” he said.

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PNC official succeeds Timken as Team NEO chairman

Paul Clark, regional president for PNC Bank in Cleveland, is taking over for Timken Co. chairman Ward J. “Tim” Timken Jr. as chair of area economic development group Team NEO.

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$20m Northside Medical project in Youngstown represents commitment to community

Northside Medical Center officials say the ceremonial groundbreaking earlier this week for a $20 million addition and renovation project in Youngstown represents a commitment to the hospital, its patients and the community. The project at Northside on Gypsy Lane, an affiliate of ValleyCare Health System of Ohio, includes a 30,000-square- foot, three-story tower that will house the Emergency Department and serve as the hub of the hospital. Construction is expected to be completed in 2014.

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YSU fundraising reaches record high

Earlier this week, Youngstown State University announced a record fundraising year, amounting to more than $10 million in private support from alumni, corporations, foundations and friends in the 2012-13 fiscal year.

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ODSA accepting applications for IMAGE grant

The Ohio International Market Access Grant for Exporters (IMAGE) program is now accepting applications. All activities must be pre-approved in advance and executed no later than September 30, 2013.

IMAGE is a 50 percent reimbursement program designed to offset the costs associated with certain exporting initiatives. IMAGE is funded by the State of Ohio and the United States Small Business Administration as part of the National Export Initiative to double U.S. exports by 2015. The purpose of IMAGE is to increase exports and create jobs in Ohio by helping small businesses expand into new international markets.

Click here for more information.

180K square foot McDonald's Lordstown distribution center grosses $450m in first year

For patrons of McDonald’s restaurants from Cleveland to Pittsburgh, the 180,000-square-foot distribution operation at Ohio Commerce Center here is key to every visit, from the pickles on your Big Mac to the 75-gallon tanks that dispense soft drinks.

Get the whole burger here.

Architectural firm plans $4m-plus rehab project for Youngstown building

Youngstown-based Strollo Architects is ready to start a $4 million- plus rehabilitation project of the long-vacant Wells Building downtown to turn it into the company’s new headquarters with 12 apartments on its upper three floors.

Get the full story here.
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