Economic Development Initiatives

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.