What’s in a name? To the Economic Development Committee of the Western Reserve Port Authority (WRPA), it’s a way to let businesses and nonprofit groups know that the port authority may be able to provide loans or other financial tools to help them grow, the Vindicator reports. The economic-development team has helped create jobs using tools including “tax-exempt and taxable bonds at a fixed rate up to 25 years and tax-increment financing that allows future tax revenue on a new or expanded business to be used for infrastructure improvements.” The committee recently “heard a presentation from local marketing executive George Farris . . . and his team to craft marketing concepts to present to the authority’s board of directors.” Farris, WRPA economic-development director Anthony Trevana, and two staff members suggested the name NorthEast Ohio Finance Authority, or NEOFA. Other committee members proposed using Mahoning Valley and Ohio Finance Agency (OFA). Trevana “said he and Farris would work on additional ideas before delivering a similar presentation to the board.” For more, read the full article.
Western Reserve Port Authority seeks new identity to better reach market
