Valley gets high marks in business
WARREN – The Youngstown-Warren Metro Area was featured prominently in Business Facilities magazine’s 2014 Metro Rankings Report.
The metro area ranked first in the Exports Growth Leaders, fifth in Export Recovery Leaders listing and ninth in Lowest Cost of Living ranking.
The magazine also cited Youngstown and Pittsburgh as among four National Manufacturing Innovation Leaders regions in the nation for the National Additive Manufacturing Innovation Institute, now known as America Makes, which is located in Youngstown.
Business Facilities magazine, a publication for corporate site selectors, highlighted the Youngstown-Warren Metro area in its Aug. 7 lead article announcing its Metro and Global rankings.
“All of the economic obituaries written about the Rust Belt during the Great Recession were totally off base: Manufactured goods produced in the Youngstown metropolitan area are being shipped around the globe,” the story states.
It goes on to quote a study by the Brookings Institute that indicated the Youngstown Metropolitan Statistical Area, which includes Trumbull County, has led the nation in export growth for several years and found the Mahoning Valley is sixth in the nation in the “export intensity” of its economy.
“The value of products exported from the Youngstown-Warren-Boardman region soared by 22 percent from 2009 to 2012, reaching a value of $4.7 billion.”
About a quarter of the goods and services produced in metro Youngstown are exported to the world, the report shows. Those include metal products and motor vehicles.
“As a region, we continue to be recognized for all of the hard work that’s being done collectively to ensure our economic recovery,” said Sarah Boyarko, vice president of economic development for the Regional Chamber of Commerce.
“The Regional Chamber works hard to share these ranking throughout the nation and beyond, so companies and private investors know who we are and what we do and that they should be here, too.”