Mahoning, Trumbull County commissioners commit $2M for Valley Vision 2050
Mahoning and Trumbull county commissioners have invested $2 million into Valley Vision 2050, an economic development plan created by five local organizations.
“I’m honored to entrust this money in the VV2050 initiative,” said Trumbull County commissioner and board chair Denny Malloy. “We are investing our taxpayer dollars in the most talented economic minds the Valley has to offer. I’m sure this will be viewed as a solid investment and not a donation or grant. Together, we will accomplish great things.”
What is Valley Vision 2050?
Valley Vision 2050 is a plan to boost the local economy originally thought of by five organizations: the Port Authority, Youngstown/Warren Regional Chamber, The Youngstown Foundation, Eastgate Regional Council of Governments and Valley Partners.
The goal of Valley Vision 2050 is to increase economic prosperity and improve the quality of life across the Mahoning Valley.
Their mission is to “bring together multiple stakeholders in various industries to solve issues pertaining to economic development, housing, quality of life and support for the arts and culture across Mahoning and Trumbull counties.”
Guy Coviello, president and CEO of the Youngstown/Warren Regional Chamber, said the organizations needed a broader coaltion of local partners, which they realized over two years ago.
“Someone once told me economic development is the ultimate team sport,” Coviello said. “Our team didn’t include some of the important players. Sure, there are lots of good partners reacting to help us create and retain jobs, but we are not yet proactively devising strategies and adequately investing at a competitive level.”
The five Mahoning Valley organizations collaborated for Valley Vision 2025 and commissioned Ernst and Young to help create a more inclusive model for the community.
“We are witnessing opportunities that we haven’t seen in decades, while our most critical and regional organizations collaborate like they never have before under new leadership,” said Mahoning County Commissioner and board chair Dave Ditzler. “The experts at Ernst and Young explained how to be more competitive, and we see that the leadership from these organizations are willing to invest in this opportunity, so the Mahoning County Commissioners want to be part of this once-in-a-generation opportunity.”
The Western Reserve Port Authority accepted the first installments of the Valley Vision 2025 money today at a board meeting.
The Western Reserve Port Authority will be in charge of administering the funds.
Here are some of the starting goals outlined in their plan for improving quality of life in the Valley and growing the community:
Preparing more sites for businesses to locate here and grow the tax base
- Providing more job opportunities for people residing in underserved geographical areas
- Efforts to grow the population
- Developing a housing strategy
- Investing in small businesses
- Funding opportunities for those starting businesses
- Creating additional scholarship opportunities to retain more youth
- Uplifting the Valley’s valuable non-profits
- Boosting the arts, culture, tourism and other industries that impact quality of life
“For decades, we’ve been challenged by territorial barriers, geographic and otherwise. The collective commitment for Valley Vision 2050 can and will surmount these barriers to achieve the quality of life and economic prosperity desired for all of its residents,” said Julie Michael Smith, vice president of Vista AST and chair of board of directors for Valley Partners.
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