COLUMBIANA, Ohio - New, looser restrictive trade regulations in Cuba are opening up new business opportunities here in the U.S. In fact, one company in Columbiana County has already been contacted by the island nation to set up a business relationship.

Cuba is interested in Columbiana Boiler Company providing tanks to transport chlorine for their water treatment plants.

Columbiana Boiler has been in business since 1894 and serves two industries. Water purification related to transporting pressurized gases and the galvanizing industry. Each year, the company exports its products to 30 different countries. Cuba could bump that number to 31.

"We're in a niche market, and it just sort of fits," says the CEO of Columbiana Boiler, Michael Sherwin.

"What they make, they can't really transport it, because they don't have the tanks," said Sherwin.

Before a deal can be made, several hurdles remain. One of the biggest unknowns for Sherwin is financially. 

"In Cuba's case, there are no U.S. Banks that have any relationships at all, period. Even the banks that do, if they do a dollar denominated transaction, the U.S. Government will fine them," says Sherwin.

Despite that, companies across the valley are seriously considering Cuba for new business opportunities.

"We are always exploring new exporting opportunities," says Sarah Boyarko with the Youngstown-Warren Regional Chamber.

Boyarko and several other local leaders recently visited Cuba to explore those opportunities. She says building a relationship with Cuba is a win-win for the Mahoning Valley.

"Ohio is a significant exporter in general, from a variety of standpoints, machinery and equipment as an example, again the building and construction materials, agriculture. It would just strengthen the opportunities and there is an entire untapped market," says Boyarko.

Quality Switch out of Newton Falls is also looking to do business in Cuba. Both companies say its going to take time to develop, but could really pay off down the road.