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Business News

2020 home sales up

Single-family home sales last year in Trumbull and Mahoning counties, and for just how much they sold, eclipsed figures from 2019 notwithstanding two hurdles — a lack of houses on the market and the viral outbreak. A glut of buyers competing for scarce good, quality homes and historically ...

YSU partners with DOE on $1M project

WARREN — Youngstown State University will partner with the U.S. Department of Energy to advance workforce development efforts in the battery manufacturing and electric vehicle industry in northeast Ohio. The $1 million project will help the development of a Midwest-based Energy Storage ...

Company secures federal contract

AUSTINTOWN — CHZ Technologies LLC has secured a contract from the Army Corps of Engineers to study nonincineration technology that could benefit the U.S. government. The agreement calls for the firm to provide evidence that Thermolyzer technology, owned by an affiliate of the ...

TCF reports $94.1 million income in fourth quarter

WARREN — Detroit-based TCF Financial Corporation, parent company of TCF National Bank, reported fourth quarter 2020 net income of $91.4 million, an increase of 64 percent from the previous quarter. Adjusted net income was $116 million compared to $98.7 million for the third quarter, ...

Ohio sets record for new business filings in 2020

WARREN — Ohio entrepreneurs amid the viral outbreak in 2020 set a record of 171,073 new business filings, eclipsing the previous year’s record of 130,621, according to the Ohio Secretary of State’s office. The data represents a 31 percent increase last year compared to 2019 that ...

Port authority has potential purchaser for Warren plaza

WARREN — The Western Reserve Port Authority authorized its CEO on Wednesday to come to terms with a developer who wants to buy land the port authority controls downtown, 231 Main Ave. SW. The board also agreed to move on a term sheet and preliminary agreement related to issuing revenue ...

$100,000 grant awarded for rail improvement at Lordstown site

LORDSTOWN — A Chattanooga, Tenn.-based plastic pail company expanding into the former Magna Seating Systems has received a $100,000 grant from the state to add a rail spur at the site, 1702 Henn Parkway. The funding was approved Wednesday by the Ohio Development Rail Commission. “Just a ...

Gas prices in northeast Ohio increase

WARREN — The average price for gasoline across northeast Ohio is 9 cents higher this week at $2.28 per gallon, according to AAA East Central’s Gas Price Report. In the Warren-Youngstown area, the average is $2.25 per gallon and in Niles, $2.26. The average price this week last year was ...

Revenue at casinos fell 25 percent in 2020

WARREN — Ohio’s four casinos combined lost nearly a quarter of their revenue in 2020 compared to the previous year, revealing the tremendous impact the viral outbreak had on the state’s gaming industry. The latest report from the Ohio Casino Control Commission shows 2020 revenue was ...

Wagering down at Austintown racino

AUSTINTOWN — Wagering on video lottery terminals last month at Hollywood Gaming Mahoning Valley Race Course eclipsed $87.3 million, but December marked the fourth month in row the racino saw betting decline. Similarly, wagering at all of Ohio’s seven racinos shrunk, too, for the month, ...