YOUNGSTOWN, OHIO — The Board of Directors of the Western Reserve Port Authority (WRPA) announces the rebranding of their division devoted to promoting financing and economic development activities in Mahoning and Trumbull Counties.
The Division is called the Northeast Ohio Development and Finance Authority.
“The Western Reserve Port Authority has been engaged in economic development efforts for years,” states Director of Economic Development, Anthony Trevena. “However, it was felt that we needed to distinguish these efforts from other activities under the purview of WRPA and give us our own identity — one that is more descriptive of what we do, and one that makes it clear what geographical sphere we’re operating in.”
Trevena explains that those from outside the region looking to grow within Mahoning and Trumbull Counties may find it confusing to be directed to a port authority, an entity primarily known for operating ports and other transportation facilities. While those living here may be familiar with the term Western Reserve, it is not widely known in other parts of Ohio or the U.S. “We now have a name that tells, at a glance, what we do and where we do it,” Trevena says.
Among the financing services the Northeast Ohio Development and Finance Authority offers are Capital Lease, Property Assessment Clean Energy (PACE), Tax Incremental Financing (TIF), and Conduit Revenue Bonds.
Tax abatement is available through Enterprise Zones and Foreign Trade Zones. The Northeast Ohio Development and Finance Authority partners on Community Development projects with the Mahoning River Consortium, Mahoning River Corridor Mayors’ Association, Mahoning Valley Partnership and Trumbull County Brownfield Coalition.
Creation of the Northeast Ohio Development and Finance Authority identity coincides with a series of new marketing and branding initiatives, including a new website and a web video.