YOUNGSTOWN, Ohio – City Council will consider an $80,000 water/wastewater grant for Iron City Wood Products Inc. to assist with the company’s planned move to the city.
The wood products company, now located on Wilson Avenue in Campbell, specializes in pallets. it plans to spend $900,000 to relocate and expand its operations to the Ross Industrial Park on Albert Street. The project will result in the relocation of 43 employees and the creation of 14 full-time jobs, according to legislation council members will consider Wednesday.
The grant will be used to assist with expenses related to extending water and sewer service at the site. The industrial park was owned by the Cafaro Co. until it was acquired last year by a Lisbon real estate partnership.
Additionally, council members are expected to consider a waiver of permit and water/wastewater fees for building and site improvements made by V&M Star at 2748 Salt Springs Road, where the company plans to invest $2.7 million for improvements and equipment to establish its roll shop. V&M is in the midst of a completing construction of its $650 million pipe mill.
Council will also consider an ordinance authorizing the city Board of Control to accept $2.37 million in grant funds from the Ohio Department of Development’s Clean Ohio Revitalization Fund and enter into appropriate agreements to implement the grant at the former Wean United site at 29 S. Phelps St. The funds include a 25% city match of $591,806 that will be provided from the city’s 2012 budget.
Copyright 2012 The Business Journal, Youngstown, Ohio.
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