Youngstown approves grants and tax abatements to help spur economic growth
The Youngstown City Council recently approved a 10-year, 75 percent tax abatement in an effort to lure Vallourec subsidiary VAM USA's new $81.5 million pipe-threading mill to the city's Ohio Works Industrial Park, The Business Journal reports. At least two other cities are under consideration for the project. Meanwhile, city officials also approved Youngstown Initiative performance grants for the following economic development agreements:
- $8,042 to assist Kiraly Tool & Die Inc. with an expansion and equipment purchase project.
- $2,731 to assist One Hot Cookie LLC with an expansion and equipment purchase project.
- $23,408 to assist Meals on Wheels with an expansion and equipment purchase project.
- $14,500 to assist Rhy the Bar LLC with renovations and construction of a new craft beer business.
