Job-creation tax credits are approvedPublished: 1/29/13 @ 12:00
Job-creation tax credits are approved
The Ohio Tax Credit Authority on Monday approved $107,483 in job-creation tax credits for Ohio Star Forge, which for months has been taking steps on a nearly $20 million expansion project at its facility on Mahoning Avenue.
The expansion would help create 26 jobs and retain 95. In all, the company is planning to invest the bulk of that $20 million on machinery and equipment, building costs and land costs.
Some of that new equipment would allow the company, which makes hot-rolled bars that it forges into parts for the automotive and gas and oil industries, to enter new market segments and access new business.
The tax credits were offered by the Ohio Development Services Agency and JobsOhio.
A state-incentive package also includes a $30,000 work-force training grant.
Fiesta Tapatia eatery opens in Boardman
Fiesta Tapatia Mexican Restaurant & Cantina will have a formal ribbon-cutting at 11 a.m. today to mark its business opening.
Located at 6526 South Ave., the restaurant will offer daily specials and special chef’s creations. Hours are 11 a.m. to 9 p.m. Monday through Thursday; 11 a.m. to 10 p.m. Friday; noon to 10 p.m. Saturday; and noon to 8 p.m. Sunday.
MYCAP offers free tax-prep services
Mahoning-Youngstown Community Action Partnership is offering free tax- preparation services to those who qualify.
Volunteers will help individuals file their federal, state and local tax returns throughout February and March. To be eligible, individuals and families must have earned a gross income of $51,000 or less last year.
For information on eligibility guidelines and the dates and times of free preparation services, visit www.my-cap.org.
Pending home sales increase, report says
The Ohio Association of Realtors on Monday reported that the number of single-family homes and condominiums put under agreement in December rose for the 20th-consecutive month compared with the results from the previous year.
Ohio’s December Pending Home Sales Index of 121.3, a forward-looking indicator based on contract signings, rose 9 percent from the December 2011 index score of 111.2.
An index of 100 is equal to the average level of contract activity during 2008, which marked the end of five-consecutive record years for existing home sales and the onset of the recession.
Activity levels in 2008 are reflective of a historically healthy, balanced market. The December 2012 pending sales index of 121.3 marks a 21.3 percent increase from the benchmark December 2008 index of 100.
Vindicator staff reports
Selected local stocks
Aqua America, .70, 26.83 .06
Clear Channel, .29 32.38 .14
Cortland Bancorp, 9.77.00
Farmers Nat., .126.59 .09
First Energy, 2.20, 40.09—.18
FirstMerit Corp., .64,15.00 .02
First Niles Financial, .32,6.50.00
First Place Fin., .0056.00
FNB Corp., .48,11.58.11
General Electric, .76,22.50.21
Motors Liquidation, .0422.00
Huntington Bank, .16, 6.94.01
JP Morgan Chase, 1.20,46.64—.52
Key Corp, .20,9.20—.09
LaFarge, 15.48 —.27
Macy’s, .80, 39.39.65
Parker Hannifin, 1.64, 93.82—.55
RTI Intl. Metals,28.61—.58
Simon Prop. Grp.,4.40,162.71.36
Stoneridge 6.35 .13
United Community Fin. 3.20—.06
Selected prices at 4 p.m. Monday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.