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Youngstown will offer an incentive to attract an expanding company

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YOUNGSTOWN, Ohio - Youngstown City Council will offer an incentive, in order to make city property more attractive to a company looking to expand.

Council will offer a 10-year, 75-percent tax abatement to VAM USA, a subsidiary of Vallourec Star.

The company is expected to decide, in less than 90 days, on whether to invest $81.5 million, to construct a pipe threading plant along Ohio Works Drive.

"They've purchased property already, they're already starting to clear some property. I think that's a good sign over all but, until they tell us they're moving forward you can't think it's a done deal yet," said Youngstown Mayor John McNally.

If the company decides to invest in Youngstown, it would create close to 100 full time jobs by early next year, and about $80,000 in annual income taxes for the city.

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