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Banking & Finance
Ohio Minimum Wage Rises to $8.10 on Jan. 1
Tuesday, October 07, 2014COLUMBUS, Ohio -- Ohio’s minimum wage will automatically increase Jan. 1 to $8.10 per hour for non-tipped employees and to $4.05 per hour for tipped employees, from $7.95 per hour and $3.98, respectively, the Ohio Department of Commerce reports.
The increased minimum wage will apply to employees of businesses with annual gross receipts of more than $297,000 per year.
Success of Startups Creates Need for Capital
Tuesday, October 07, 2014COLUMBUS, Ohio -- Investors put $149 million to work with Ohio entrepreneurial companies in 2013, according to a report released Monday by VentureOhio.
VentureOhio, founded last year, describes itself as “a unified voice for the capital sources and other organizations that finance or support high growth that seek to make Ohio a preferred location for high potential entrepreneurial activity.”
Its report points out the need for more capital if the needs of the growing companies are to be met.
PNC Survey Shows Ohio Business Owners Cautious
Friday, October 03, 2014YOUNGSTOWN, Ohio – James Kerrigan, owner of Kerrigan Insurance in Hubbard, expects sales, profits and hiring to remain steady over the next few months.
“Insurance is an up-and-down business,” he remarked. “It’s been steady for 30 years. I’m busy all the time.”
Kerrigan’s expectations generally fall in line with those of other owners of small and midsize businesses in Ohio who participated in the latest PNC Economic Outlook Survey, which was released Thursday.
Area Foreclosures, Mortgage Delinquencies Decline in July
Wednesday, October 01, 2014IRVING, Calif. -- Foreclosure and mortgage delinquency rates in the Youngstown-Warren-Boardman Ohio-Pa. metropolitan statistical area decreased for the month of July over the same period last year, according to the latest monthly data from provided by CoreLogic,
The rate of foreclosures for the area was 2.35% in July, down 1.17 percentage points from July 2013’s 3.52%. The MSA’s July foreclosure rate was higher than the national rate for the month, 1.66%. In Ohio, 1.63% of loans were in foreclosure in July, down 0.83% from 2.46% in July 2013.
UCFC, Home Savings Name Ellen Tressel to Boards
Tuesday, September 30, 2014YOUNGSTOWN, Ohio -- United Community Financial Corp., holding company of The Home Savings Loan Company, announced Ellen J. Tressel as the newest member of both the UCFC and Home Savings board of directors. Her appointment is effective Oct. 1.
In the news release, issued Monday afternoon, UFCF and Home Savings cited Tressel’s long tradition of community involvement, including 14 years in the financial services industry and several years as an active board member for charitable organizations.