Venture Plastics Receives Abatement for $3 Million Expansion

Nov 13, 2017 | News, Newsletter

Kim Calvert.
Youngstown/Warren Regional Chamber.

Both Trumbull County Commissioners and Braceville Township Trustees approved at their respective meetings this morning and Tuesday evening a 10-year, 60 percent enterprise zone abatement of real estate taxes—as presented by the Trumbull County Planning Commission—for a nearly $3 million expansion project at Venture Plastics, located at 4000 Warren-Ravenna Road.

The custom injection molding services company—in business since 1969—is growing to accommodate customer demand. The project will result in eight new jobs, 110 retained jobs and 17,000 square feet of additional space.

Chamber staff helped to coordinate discussions with local and state partners to determine the appropriate level of assistance to support Venture Plastics’ expansion.

Sarah Boyarko, the Chamber’s senior vice president of Economic Development, said, “Venture Plastics is a valued company in Trumbull County and significant employer. We’ve had opportunities to work with Venture on several occasions over the years, and we are certainly pleased that the county commissioners and township trustees have approved the property tax abatement in support of its continued growth.”

Venture Plastics, a “Best in Class” supplier, has two modern facilities located in Braceville and El Paso, Texas. The company’s well-diversified customer base includes the major markets of industrial/consumer, major appliance, truck/agriculture, automotive, fuel delivery and communications.

The company’s engineering staff can assist in efficient part design and consolidation for cost reduction, while its program management skills provide quick turnaround from concept to production. Venture Plastics’ process and quality control systems provide a consistent flow of good parts, eliminating the cost of scrap and rework. Value-added processes, such as finishing and assembly, provide an efficient single-source supplier.

HB168/BFPD Informational Webinar

Join a discussion, hosted by the Greater Ohio Policy Center (GOPC), to learn about the recently passed HB168, which establishes the bona fide purchaser defense (BFPD) into Ohio law. The establishment of the BFPD into Ohio law better aligns Ohio law with federal standards, and aims to encourage the redevelopment of lightly contaminated brownfield sites.

read more

An Open Letter to OEDA’s Members and Ohio’s Economic Development Community

OEDA has been listening and learning as the issues around systemic racism have been brought to the forefront and captured the nation’s attention.  It is devastating that the deaths of Ahmaud Arbery, Breonna Taylor, and George Floyd—and, sadly, the indisputable video evidence of their killings—became the catalysts for our country to collectively pay attention and admit that systemic racism exists. What is also indisputable is that the time for change is now.

read more