Youngstown in top 10 for growth potential, cost of living

Aug 10, 2015
Business Facilities has released its 11th annual Metro and Global Rankings, and Youngstown has placed in the top 10 in two categories.
Business Facilities has released its 11th annual Metro and Global Rankings, and Youngstown has placed in the top 10 in two categories.

Youngstown is ranked 10th in the category of economic growth potential, a list that is topped by Nashville, Tennessee. Youngstown is ranked sixth for cost of living; Harlingen, Texas, claimed the top spot.

The recognition from Business Facilities is simply the latest honor the Valley has received. In 2014, the larger Youngstown-Warren metro area repeated its ranking among the top 10 most affordable urban areas in the United States, according to the 2013 Cost of Living Index.

The metro area, which includes Mahoning and Trumbull counties in Ohio and Mercer County in Pennsylvania, ranked ninth lowest among 308 urban areas. The 2013 study was conducted by the Council for Community and Economic Research in Arlington, Va.

In February 2015, Youngstown was ranked ninth among the most affordable cities in Ohio according to a study released by SmartAsset.

“This recognition from Business Facilities reaffirms what we already felt to be true – that the partnerships we have recently formed and the $1 billion plus in our economic pipeline distinguishes us from other areas of the country,” said Sarah Boyarko, Youngstown Warren Regional Chamber Vice President of Business Expansion, North America.

Early this year, the Regional Chamber, Ohio International Trade Assistance Center and Youngstown State University helped create the 10-county OH-PA Stateline Export Initiative. In April, the Regional Chamber formed an economic development partnership with the Ohio Farm Bureau to create opportunities for more than 7,000 northeast Ohio farms, including many in Trumbull and Mahoning counties. And most recently, the Regional Chamber teamed with the trade assistance center and YSU to host Cuban diplomats in anticipation of restored diplomatic relations between the U.S. and the island nation.

“We’re pleased with the trade, exportation and growth potential that our partnerships are creating for local companies,’’ Boyarko said. “When somebody like Business Facilities recognizes our effort, we know we’re handling economic development correctly.”

The Regional Chamber is the Valley’s lead economic development agency. Last year it attracted $126 million in business investments that created 484 new jobs in the Valley. It has another $1.4 billion in pending projects.

Since 1993, the Regional Chamber has secured $4.4 billion in business investments that resulted in more than 50,000 new or retained jobs. For additional information, visit www.regionalchamber.com .

Business Facilities is a leading full-service media brand specializing in the site selection marketplace. For more information, visit www.businessfacilities.com .