Monday, November 7, 2016
YOUNGSTOWN — Local leaders and officials of Joseph Co. International broke ground this morning for a $20 million factory and technology center on the city’s East Side that will produce the world’s first self-chilling beverage can.
The ceremony was at 130 N. Lane Ave.
City Council recently authorized the city board of control to give the Irvine, Calif.-based company a 75-percent, 10-year real estate tax abatement.
The abatement will save the company an estimated $313,142 in taxes over 10 years with Joseph Co. paying $86,841 during that time.
The company already has received a $1.5 million grant from the city and plans to be in full operation by 2018 with 50 employees.
Within three years of operating, Joseph Co. plans to have about 257 employees.
The business will be bounded by Oak Street, North Fruit Street, Himrod Avenue and the Madison Avenue Expressway. The area was a largely vacant East Side neighborhood with nearly every property owner in that location having sold to the city.