YOUNGSTOWN — The investment of $21 million to demolish abandoned homes, rehabilitate others and spruce up abandoned lots across Mahoning County returned $33.2 million in economic benefits over a 10-year period, according to a new Youngstown State University report.

The document was commissioned by the Mahoning County Land Bank.

The report from YSU’s Williamson College of Business says each $1 spent through the land bank’s work returned $1.43 to $1.50 in benefits.

“It’s important to understand that our work in collaboration with others to clean up neighborhoods delivers not only important aesthetic benefits but quantifiable, bottom-line economic benefits,” said Debora Flora, executive director of the land bank. “Reports like these help us make it clear that demolition, rehabilitation and greening are very good investments.”

Daniel Yemma, Mahoning County treasurer and chair of the land bank’s board of directors, added: “The report actually understates the impact of the work because it doesn’t cover the property taxes the community collects when these abandoned, run-down, tax-delinquent properties are restored to the tax rolls.”

Read more in Monday’s Vindicator.