The Youngstown/Warren Regional Chamber is calling the sale of Foxconn's Lordstown plant a "pivotal moment" for the area, saying it positions the Mahoning Valley for a new chapter of advanced manufacturing.

The chamber released a statement Monday following Foxconn's announcement that it would sell the 6.2 million-square-foot facility to an existing business partner but continue to operate it.

"Foxconn has proven to be an outstanding corporate citizen, and we look forward to building a similarly strong, prosperous relationship with its new partner," said Guy Coviello, the chamber's president and CEO.

While Foxconn did not name the business partner, Reuters reported the plant was sold for $88 million, which is $10 million more than Foxconn paid General Motors for the facility.

Coviello said the announcement affirms the chamber's vision for future investment and its focus on housing, talent, and population growth. He also referenced the "Drive It Home Ohio" campaign, a grassroots effort launched in 2018 that united community, business, and public leaders, originally beginning as an effort to convince General Motors to assign a new vehicle to the Lordstown plant.

The campaign, Coviello said, helped elevate the plant's strategic importance and "laid the groundwork for the transformation we are now witnessing." 

Foxconn, which purchased the former GM plant in 2022, said in a statement that it plans to reinvest the proceeds from the sale back into its U.S. operations.

The company stated it will not be leaving Lordstown and will continue to be involved in manufacturing products for customers at the site.