As a Port Authority overseeing the operations of the Youngstown - Warren Regional Airport, the Western Reserve Port Authority can offer businesses assistance in locating at the Airport to include financing initiatives that are competitive in their rates and terms with those found through conventional financing. Depending on the project, the Port Authority can issue tax-exempt debt, and may be able to provide sales-tax relief on construction materials, either of which adds to savings to the bottom line. The Authority can also provide accounting advantages by keeping debt off a company's balance sheet and offer flexibility through amortizing debt or lease-purchase options.
The economic development initiatives of the Western Reserve Port Authority, operated by Mahoning and Trumbull counties, are funded through a joint initiative of the two counties, the cities of Youngstown, Warren, Niles, Howland Township and the Western Reserve Building Trades Council.
The ability to purchase property and lease back to private entities is just one of the benefits and assistance the Port Authority can provide businesses interested in located on or adjacent to the Airport. The Port Authority also administers the Foreign Trade Zone program in Mahoning and Trumbull counties, and will ramp up its efforts to advise companies on the advantages of the program and its ability to assist them in their global initiatives by deferring, reducing or eliminating the customs duties associated with imported materials and goods. The Youngstown-Warren Regional Airport, its Air Cargo Facility, and adjacent AeroPark Industrial Park are all located within FTZ # 181.
Please check back, in the future, for information.
The area immediately surrounding the Youngstown-Warren Regional Airport is home to AeroPark Industrial PARK. AeroPark currently houses over one million square feet of development, including Fortune 500 companies Delphi Packard and Timken-LaTrobe. This represents just a fraction of the space available for future development.
AeroPark is strategically located halfway between New York City and Chicago, Illinois. The Youngstown-Warren region is within 500 miles (805 kilometers) and one-day truck access to approximately 65% of all U.S. manufacturing facilities and 50% of Canada's manufacturing operations in the Ontario region. Additionally, AeroPark is only 75 miles from Cleveland, Akron and Pittsburgh, in the heart of the Ohio-Pennsylvania industrial megalopolis. This region boasts over seven million people, 11,700 manufacturing plants and 12,900 distribution centers (more than Dallas, Detroit, Houston, Miami or Philadelphia).
AeroPark is located just a short drive to highway access that provides fast connections to major U.S. highway interstates 80 and 76.
The Western Reserve Port Authority, through its economic development initiatives, provides a variety of incentives to qualifying businesses that may be interested in locating within the available industrial sites. The Western Reserve Port Authority and our public and private partners are committed to working with your business to develop the most attractive and cost- effective package available.
The Western Reserve Port Authority provides prospective businesses with special fixed-rate, long-term, tax-exempt or taxable financing options that can assist with a project's construction and/or acquisition of land, building and equipment. Additional incentives can include special lease and off-balance sheet options as well as the potential of a one-time sales tax exemption on construction or improvements.
The airport and AeroPark are designated Foreign Trade Zones, and offer unique benefits to businesses with their import-export operations that can reduce costs and lead times associated with international sourcing. By locating within a Foreign Trade Zone, companies can potentially reduce, defer or even eliminate duties. The Western Reserve Port Authority, parent of the Youngstown-Warren Regional Airport, administers the Zone on behalf of Grantee #181.
For more information on how the Western Reserve Port Authority can assist your company with development at the Youngstown-Warren Regional Airport or AeroPark Industrial Park, please contact:
Rose Ann DeLeon
Western Reserve Port Authority
Trumbull County is Ohio's only square county and measures 25 miles wide and 25 miles high. Originally comprised of 25 townships, each measuring five miles by five miles, it now consists of 24 townships, six cities and five villages. The village settlements found at the center of many of the County's townships are dominated by town squares reminiscent of village greens found throughout New England. Trumbull County also played a significant role in the Underground Railroad movement.
The Mahoning County has a total area of 423 square miles with eight square miles of it being water. Generations ago, Youngstown and the Mahoning Valley became home to an amazing group of settlers as they moved west from the east coast. They represented a rich cultural and ethnic diversity, which shaped this area and can still be experienced today. Skilled tradesmen, hardworking farmers and proud shopkeepers from all over the world brought not only their work ethic, but their artistic, culinary and architectural talents as well.