Chamber: $1B Invested in Valley over 3 Years
YOUNGSTOWN, Ohio – The Youngstown/Warren Regional Chamber is touting its latest economic development report card, which shows a total of $1.06 billion in economic activity over the last three years resulting in nearly 3,000 jobs through projects assisted by its economic development team.
Covering the 2009-2011 period, actual project investment and job creation totals were “well above the goals set by the chamber for economic development activity,” said Tom Humphries, the chamber's president and CEO, in a prepared statement.
"In fact, the three-year job creation total was 12% above the goal of 2,300 jobs that the chamber had set for this period, and investment totals during this time frame were 304% higher than the set goal of $80 million per year, or $240 million over full three years,” he added.
In 2010, the actual investment of $775.59 million, for 19 projects, was nearly 10 times the $80 million objective for the year, due largely to V&M Star's announcement that it would build its $650 million mill in Youngstown. That year the chamber also reported it assisted in the creation of 1,029 jobs, more than 200 above the 800 targeted, and helped to retain 1,499 jobs.
Last year, the chamber reported total investment of $207 million for 20 projects, and 833 jobs created, short of the 1,000 goal, plus 1,048 jobs retained.
In 2009, actual investment was $80.12 million dollars on 20 projects, and 1,050 jobs created, above the target of 800, and 1,685 retained.
“We are extremely proud of our track record as the private sector economic development agency in the Mahoning Valley," Humphries said. "The job creation and investment numbers show significant and ongoing economic development activity that has propelled the Youngstown-Warren area to be one of the top jobs and manufacturing growth areas in the nation.”
Published by The Business Journal, Youngstown, Ohio.