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Business

Survey takers sought on Mahoning Valley airline service

WARREN — The Western Reserve Port Authority and the Youngstown Warren Regional Chamber have partnered to launch an electronic survey on air travel activity among local businesses. Information from the survey to determine pre- and anticipated post-pandemic air passenger needs will be ...

YBI company secures $11M investment

Staff report YOUNGSTOWN — Spinwheel, a Youngstown Business Incubator portfolio company, has secured $11 million in new funding to grow its consumer debt management platform, starting with student loan debt. The funding, announced Monday, was led by QED Investors with participation from ...

Business briefs

WE LAUNCH TO LAUNCH: The next cohort of WE Launch, phase two of the WE Accelerator Program, begins June 9 and includes 10 weeks of classes focused on the fundamentals of owning and operating a business. The primary goal of WE Launch is to assist women who have started their own business but ...

Ohio House bill would create EV Commission

Staff report WARREN — Legislation in the Ohio House would create an eight-person, bipartisan Electric Vehicle Commission that would, in part, identify and evaluate opportunities for growth in the industry. House Bill 292 also would create a temporary sales tax exemption for ...

State awards YSU $1.6M for STEMM scholarships

YOUNGSTOWN — Youngstown State University has been awarded $1.6 million from the state to expand a scholarship program that supports students studying science, technology, engineering, mathematics and medicine (STEMM). About $1 million from the Ohio Department of Higher Education is ...

Infrastructure presentations planned

YOUNGSTOWN — Eastgate Regional Council of Governments will host a series of virtual presentations on infrastructure initiatives in the Mahoning Valley for National Infrastructure Week, May 10- 14. The daily 30-minute sessions will cover multimodal safety, environment and climate change, ...

Lordstown Motors pays bill, late fee

LORDSTOWN — Electric truck startup Lordstown Motors Corp. has made good on its overdue real estate tax bills, plus a hefty penalty the automaker was given when it missed the tax deadline in early March. Records show the company paid the $570,958 it originally owed to the Trumbull County ...

Auto Parkit owner misses tax deadline

WARREN — A businessman who owns the former Delphi and Packard Electric buildings defaulted on a contract payment plan for back-owed property taxes and missed the due date to pay current taxes, Trumbull County Treasurer Sam Lamancusa said. Five parcels of property owned by Christopher ...

Business briefs

ROBOTICS SEMINAR PLANNED: The Ohio Small Business Development Center at Youngstown State University is partnering with the National Robotics Engineering Center at Carnegie Mellon University to discuss how robotics and artificial intelligence can provide opportunities for your business. The ...

IBM honors Hubbard native

Imagine being able to detect one of the leading causes of hospital deaths, and one of the most expensive conditions in health care to treat, months in advance to save lives and for health care providers, tremendous amounts of money. That’s exactly what Curren Katz and her team at ...

Brilex Group hires new CEO

YOUNGSTOWN ä The Brilex Group of Companies has hired former Nucor executive Doyle Hopper as CEO. Hopper brings with him nearly 30 years of experience in the steel industry and manufacturing at Nucor, the largest producer of steel in the United States. He started there out of college as ...

Net income declines at 1st Niles Financial

NILES — First Niles Financial Inc., the holding company for Home Federal Savings and Loan Association of Niles, reported net income was down 41 percent to $50,000 in the first quarter of the year compared with the same three-month period last year. The company in its first quarter ...

Freshmade 3D acquired

YOUNGSTOWN — Freshmade 3D, a portfolio company of the Youngstown Business Incubator, was purchased by suburban Pittsburgh firm, ExOne Company, a manufacturer of 3D-printing systems, it announced Wednesday. The move allows ExOne to offer AMClad Tooling, a process patented by Freshmade 3D of ...

Southern Park owner given another extension to pay bills

BOARDMAN — The Ohio-based company that owns and operates hundreds of shopping malls across the U.S., including Southern Park Mall, has one more week to avoid default while talks continue to restructure its finances. This is the third extension noteholders and creditors of Washington Prime ...

Farmers reports record net income

CANFIELD — Farmers National Banc Corp. set a record for net income in the first quarter of 2021 with $14.6 million, an amount 68 percent higher than the same three-month period last year. The company in its first quarter financial report Wednesday said the annualized return on average ...

Ex-Skate Zone property sale finalized for $875K

AUSTINTOWN — The former Skate Zone Family Fun Center has been bought for $875,000 by Tennessee-based commercial real estate investment firm Hutton to locate a new car wash. The transaction between Hutton affiliate Hutton Youngstown Mahoning OH ST LLC, and husband and wife Larry and Cynthia ...

YBI partnership wins fed grant

YOUNGSTOWN — The Youngstown Business Incubator is part of a northeast Ohio regional partnership awarded $703,378 to improve the recovery and resiliency of the local economy hurt by the viral pandemic. Resilient NEO — a partnership that also includes the Manufacturing Advocacy and Growth ...

Cortland Bancorp reports net income growth in 1Q

CORTLAND — Cortland Bancorp, the holding company for Cortland Bank, doubled its net income in the first quarter of the year to $2.8 million compared with the same three-month period in 2020. The company in its first-quarter financial report Tuesday also reported the return on average assets ...

Liberty firm buys retail plaza, outparcels for $16.5M

BOARDMAN — Affiliates of a Liberty-based real estate investment firm are the buyers of the Tiffany Square retail plaza and four connected outparcels, which sold for $16.5 million. Tiffany Square, a 179,000-square-foot shopping center on Boardman Poland Road that contains Marshall’s, Hobby ...

Company adds racketeering claim to LMC suit

LORDSTOWN — A West Coast maker of luxury electric cars that accused Lordstown Motors Corp. of corporate espionage in a lawsuit has amended its complaint, alleging a widespread conspiracy to raid the company of its confidential and proprietary information. Irvine, Calif.-based Karma ...