SitemapWhen it meets next week, City Council will consider a tax abatement to support a company’s proposed $2 million investment and a $100,000 allocation to boost efforts to redevelop the former Foster Theater. Council members heard about P&L Metalcrafts LLC’s proposed expansion of its 1050 Ohio Works Drive plant last month during a May 9 meeting of its community planning and economic development committee. Council members will consider a 10-year abatement of personal property taxes not to exceed a 10-year average of 75% on improvements made to the property, according to the ordinance proposed by Mayor Jamael Tito Brown.
The company manufacturers stairwells and railings used in commercial buildings, schools and stadiums, among other products. The enterprise zone agreement attached to the ordinance outlines P&L’s plans to spend at least $1.65 million and up to nearly $2.58 million at the project site. The proposed spending includes up to $1.5 million in improvements to its existing building and between $750,000 and nearly $1.08 million for inventory, machinery and equipment. The project is slated to begin this spring, with construction and installation to be finished by fall.
Within two years after construction is complete, P&L plans to add 14 employees, most in full-time positions, to its existing workforce of 19. The plans call for adding eight full-time and two part-time permanent jobs within the first year of completing construction, adding $387,840 to the company’s payroll by the end of the first year. If approved by City Council, the proposed $100,000 for Youngstown Neighborhood Development Corporation to support its renovation of the former Foster Theater, 2504 Glenwood Ave., would be the second allocation from the city’s $82.7 million share of American Rescue Plan funds.
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