Valerus completes 1st equipment order
Valerus, a Houston company, announced Wednesday that its partnership with Youngstown-based Brilex Industries has completed its first order of oil- and gas- production equipment for a Utica shale operator.
The partnership was announced in November when Valerus said it would result in 30 jobs.
Wednesday marked the completion of an order of high-pressure coalescing filters used in the drilling process. Now, the companies said they will move to a series of other high-demand products such as absorber towers — a sort of flue for gases to exit through.
The Youngstown-Warren Regional Chamber reported Wednesday that projects announced since 2008 have earned the region billions of dollars in investments and jobs.
In a press release headlined “Youngstown-Warren, Ohio: Leading the U.S. in its economic recovery,” the chamber said that since 2008, economic- development project announcements have, or will, create about $5 billion in investment, 5,654 jobs and retained an additional 12,574.
The chamber cited the arrival of the oil-and-gas industry, whether drilling operations or the creation of a supply chain here, as a primary reason for the ongoing revitalization of the area’s economy.
Tom Humphries, president and chief executive of the chamber, said he expects an additional $600 million in projects for this year.
First National event
First National Bank will kick off a weeklong grand-opening celebration at 8:45 a.m. Monday with a ribbon-cutting ceremony at its new Canfield office at U.S. Route 224 and Tippecanoe Road in Creekside Plaza.
Officials from Canfield and Boardman, along with representatives from two local charities, OH WOW! children’s center and the Rich Center for Autism, will be in attendance.
In addition to the ribbon-cutting, First National Bank is offering special promotions next week. The community is invited to stop by the new Canfield location to meet the local staff and check out the grand- opening specials.
GM to invest $200M
General Motors will add a wing to its engine and transmission development headquarters in Pontiac, Mich., with hopes of getting new technology into cars and trucks much faster.
The Detroit automaker announced Wednesday that it would spend $200 million to add 138,000 square feet of new labs in Pontiac, allowing it to consolidate work from four other facilities.
The move won’t create any new jobs, but it will bring 400 more positions to the Pontiac headquarters, raising its total employment to 3,900 from 3,500.
Vindicator staff/wire reports