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Economic Development
Covelli Centre Reports 3Q Loss; Still Ahead of Last Year
Monday, October 27, 2014YOUNGSTOWN, Ohio -- The Covelli Centre shouldered an operational loss of $83,111 during the third quarter but is on pace to exceed its year-end earnings compared with 2013.
The arena posted a net operating income of $299,494 for the nine months ended Sept. 30, versus a $264,872 profit realized during the same period last year, records show.
"The numbers are solid year-to-date and that's how we evaluate how the facility is doing," said Kyle Miasek, the city's assistant finance director. "We're optimistic we'll end the year with a sizeable profit."
Brown Pushes Funding for America Makes, More Hubs
Monday, October 27, 2014YOUNGSTOWN, Ohio -- U.S. Sen. Sherrod Brown, D-Ohio, selected a startup company at the Youngstown Business Incubator Friday as the backdrop to pitch the importance of his Revitalize American Manufacturing and Innovation Act, or RAMI.
The legislation would provide $300 million to fund the Obama Administration's National Network for Manufacturing Innovation program, launched in 2012 with the formation of America Makes in Youngstown, the first of 12 advanced manufacturing hubs planned across the country.
Small-Business Optimism at Pre-Recession Levels
Monday, October 27, 2014NEW YORK -- Small-business owners’ optimism on their business prospects and the economy continue to rise, reports the fall issue of American Express OPEN Small Business Monitor. In Ohio, 82% of owners say the rewards being an entrepreneur outweigh the demands and 88% see the glass as “half-full” and are optimistic, up significantly from 66% six months ago.
Kent Business College Partnership to Promote Exports
Monday, October 27, 2014KENT, Ohio -- The college of business administration at Kent State University has signed an agreement to promote exports by establishing a U.S. Export Assistance Center at the university, Todd Hiser announced today.
The college will work with Hiser, an international trade specialist with the U.S. Commercial Service, to help identify those companies in northeastern Ohio ready or nearly ready to export their goods or services.
Restaurant to Open in Youngstown Club Space
Friday, October 24, 2014YOUNGSTOWN, Ohio -- George Guarnieri is tackling head on the notion he says he heard from people who said restaurant patrons won’t go to the top floor of downtown’s Commerce Building to dine out.
“We’re not afraid of the fifth floor. We want to let the customer know that’s where we are,” Guarnieri said. In fact, “The Fifth Floor” is what the veteran restaurateur is calling his new restaurant, which will be open on the upper level of the two floors formerly occupied by the Youngstown Club.