New incentive approved for business development in Liberty - 21 News Now, More Local News for Youngstown, Ohio -

New incentive approved for business development in Liberty

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LIBERTY TOWNSHIP, Ohio - There's a new incentive in place for businesses looking to open or expand in a newly designated community reinvestment area in Liberty Township.

The state recently approved a 50 percent tax abatement for businesses that move in and build new or make improvements.

The businesses eligible for the tax break would have to be located within the designated reinvestment area along Belmont Avenue between Gypsy Avenue and Tibbetts-Wick Road.

"It's an incentive that's not done generally in the suburbs," says Pat Ungaro, township administrator. "I did it in the city, it was very successful."

Ungaro says, in the coming weeks, the township expects to annouce two of the four development projects coming to the area in 2013. While details are limited, he says each project has a projected investment of more than $10 million.

Sewer and water lines are ready for projects in progress just north of Giant Eagle.

Across the street from the future site of a Comfort Suites hotel, the Station Square Ristorante is hoping to serve new faces.

"It's great," says Ottavio Musumeci, restaurant owner. "With the incentive, people you know will come into this area."

He says plans are in place to take advantage of the deal. He expects to spend $40,000 worth of cosmetic upgrades including new dining tables and a roof for over his new patio, set to be ready in May.

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