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Economic Development
City, NYO in ‘Preliminary’ Talks on 20 Federal Place
Thursday, November 20, 2014
YOUNGSTOWN, Ohio -- The city is engaged in what its finance director characterizes as “preliminary” discussions with representatives of NYO Property Group regarding the developer’s purchase of 20 Federal Place.
NYO submitted a $1.7 million bid to acquire the city-owned building and a nearby parking lot. The developer was the sole entity to submit a proposal by the Oct. 3 deadline, even though its largest tenant, VXI Global Solutions Inc., submitted a letter stating it preferred that the city retain ownership.
Stambaugh to Become Doubletree by Hilton
Thursday, November 20, 2014
YOUNGSTOWN, Ohio -- The hotel that will occupy the Stambaugh Building downtown will have the Doubletree by Hilton brand, the NYO Property Group announced Wednesday.
Conversion of the landmark building to a 125-room hotel is scheduled to begin in June and take about 16 months with the opening in late 2016, NYO Property Group LLC principal Dominic J. Marchionda said.
Since the Wick-Pollock Inn closed in 1998, no hotel has operated within Youngstown city limits.
WRPA Considers Sites for Brownfield Grant Applications
Thursday, November 20, 2014
YOUNGSTOWN, Ohio -- The Western Reserve Port Authority may already have a project lined up for a Mahoning County site it wants to seek federal funds to remediate.
The port authority’s board of directors, at its regular meeting Wednesday, authorized its economic development division to apply to the U.S. Environmental Protection Agency for two $600,000 grants, one for remediation funds and one for assessment funds.
Ohio Seeks Applicants for Export Marketing Subsidies
Wednesday, November 19, 2014
COLUMBUS, Ohio -- The Ohio Development Services Agency is accepting applications for the 2015 Ohio International Market Access Grant for Exporters (IMAGE) program.
The IMAGE program is a 50% reimbursement program designed to offset the costs associated with international marketing initiatives, including trade shows and missions, marketing materials, website translation and export education programs.
City Approves Incentives for Wells Building Renovation
Tuesday, November 18, 2014
YOUNGSTOWN, Ohio -- Crews could be at work on the renovation of the Wells Building downtown as soon as Thursday, Gregg Strollo says.
Private financing is expected to close Thursday for the $5 million project to renovate the long-vacant building into a mixed-use structure, Strollo, partner with Strollo Architects, said this morning. A Strollo partnership, Wells Associated Renaissance partners LLC, plans to develop the building to serve as a new headquarters for the firm on its first floor and 12 apartments on the upper levels.