Matalco to Break Ground for $100 Million Billet Plant
Tuesday, July 22, 2014LORDSTOWN, Ohio -- Ground will be broken Sept. 17 for Matalco Inc.s $100 million remelt aluminum billet manufacturing plant to be built here on a greenfield site at 5120 Tod Ave.
Invitations to the event were sent late Monday to news organizations, the first confirmation that a potential project, first reported in October then granted state tax credits in December, would indeed be coming to the Mahoning Valley.
'3 Minutes With' David, Tom and Chris Cole, Cole-Valley Cadillac
Tuesday, July 22, 2014WARREN, Ohio – In today's “3 Minutes With,” David, Tom and Chris Cole reflect on the history of Cole-Valley Cadillac and discuss its future. The family-owned dealership, which is in its fourth generation, is celebrating 100 years in business.
"3 Minutes With" is a daily video feature produced by The Business Journal.
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Home Sales Up in Area, Despite Dip in Mahoning
Tuesday, July 22, 2014YOUNGSTOWN, Ohio -- Despite a modest dip in Mahoning County, sales of single family houses in the three-county area were up in June from a year earlier, the latest monthly reports from the Youngstown Columbiana Association of Realtors shows.
Rise Pies Chain to Launch at Boardman Shops
Tuesday, July 22, 2014BOARDMAN, Ohio -- Rise Pies, the first unit in a planned national chain of fast casual pizza restaurants, will open Sept. 2 in the Shops at Boardman Park, principals announced Monday. Construction at 439 Boardman-Poland Road, previously occupied by the former Peet’s Coffee & Tea and Cold Stone Creamery, began last week.
In addition to the Boardman location, a second location is planned at the new University Town Center in Sarasota, Fla. in October and additional lease contracts are lined up around the country.
Ryan, Strickland to Try Living on Minimum Wage
Tuesday, July 22, 2014YOUNGSTOWN, Ohio -- U.S. Rep. Tim Ryan and his wife are discussing how their family is going to live on $154 for a week.
Ryan and his wife, Andrea, are taking part in the Live the Wage Challenge, attempting to get by for a week on the amount of money a minimum wage-earner would typically have over after taking care of basic living expenses.
Record Profit for Covelli Centre's First 6 Months
Monday, July 21, 2014YOUNGSTOWN, Ohio -- The Covelli Centre posted an impressive $382,605 profit for the first half of 2014, its strongest earnings for the period since the arena opened in 2005.
A financial report released by the city shows that the Covelli Centre saw a net profit of just $577 for the quarter ended June 30, but budgeted for a loss of $93,840.
The arena budgeted a net income of $284,570 for the first six months of 2014, but earned nearly $100,000 more during the period because of several high-profile shows, including Elton John's sold out performance Feb. 1.
Russia's Severstal Sells Its Remaining US Plants
Monday, July 21, 2014YOUNGSTOWN, Ohio -- Russia’s OAO Severstal, the former owner of steel mills in Warren, Maryland and West Virginia, is selling its two remaining steel plants in the United States for $2.3 billion.
In separate transactions, Severstal Dearborn LLC will be sold for $700 million in cash to AK Steel Corp., based in West Chester, and Severstal Columbus (Mississippi) will be sold to Steel Dynamics, based in Fort Wayne, Ind., for $1.625 billion.
Project Calls at America Makes for Air Force Research
Monday, July 21, 2014YOUNGSTOWN, Ohio -- America Makes, the National Additive Manufacturing Innovation Institute based downtown, is announcing two new special topic project calls on behalf of the Air Force Research Laboratory, manufacturing technology division.
Business Economists See Higher Profits, Wages
Monday, July 21, 2014WASHINGTON -- The National Association of Business Economists foresees continuing strong economic growth as reflected by their companies earning higher profits and paying higher wages.
In its latest survey of 85 economists who work for U.S. businesses or trade associations, NABE found that a majority of the 77 members who responded “have strong expectations for increased economic growth,” said Jack Kleinhenz, president of NABE and chief economist for the National Retail Federation.
The results of the survey, conducted between June 20 and 23, were released today.
Strickland, Ryan to Take Minimum Wage Challenge
Monday, July 21, 2014WASHINGTON -- To call attention to the plight of those living on the minimum wage, former Ohio Gov. Ted Strickland and U.S. Reps. Tim Ryan, Jan Schakowsky and Keith Ellison will attempt to live on it for a week.
Next week will mark five years since the federal minimum wage was last increased, noted Ryan’s office in announcing the challenge.