CASTLO News!

"CASTLO Capitalizes on Opportunities, Teamwork in 2001"

~ January 22, 2002, The Business Journal Growth Report
 

CASTLO Community Improvement Corp., Struthers, spent 2001 developing opportunities and laying groundwork for the future, reports William D. DeCicco, executive director.

The CASTLO CIC added a new facility to its 120-acre CASTLO Industrial Park, located on the site of the former Youngstown Sheet and Tube Struthers Works, last year. The 6,000-square-foot spec building, suitable for light industrial production, is the first new structure in the park's 21-year history. It stands on its own one-plus acre landscaped lot, situated at the industrial park entrance less than two miles from Interstate 680, with perimeter fencing, ample parking and loading space and is expandable, if desired, to 8,700 square feet, in keeping with CASTLO's practice of leasing its buildings or vacant land on either an "as-is" basis or, via construction or retrofitting, in accordance with the specifications of a prospective tenant.

In addition to the new structure, CASTLO invested nearly $50,000 in other capital improvements throughout the park last year, DeCicco says. One of the few industrial parks in the region with access to both the CSXT and Norfolk & Southern railroads, CASTLO further enhanced its assets by upgrading portions of railroad track, repairing an existing grade crossing, and repaving a major portion of its central roadway. In the process, CASTLO welcomed new tenant Fast-Cast LLC, a foundry operation, and -- in a nod to the slowing national economy -- said farewell to two others.

As 15-year tenant American Wood Fibers Inc. relocates to Circleville and the Weyerhaeuser Co. consolidates northeast Ohio operations in Cleveland after acquiring MacMillan Bloedel Building Materials last year, DeCicco says the industrial park is actively engaged in marketing two of its most desirable facilities.

"It's an opportunity for us because we now have two large and highly functional buildings available for lease," he says, noting that Weyerhaeuser's lease remains in effect through March 2004 and is available for sub-lease.

Besides their size and functionality, DeCicco adds, the Two buildings are highly marketable. The first, Building H, is a 42,000-square-foot sprinklered building sub-dividable into 17,500- and 24,500-square foot areas; Building C, completely remodeled in 1994 for MacMillan Bloedel, offers a 2,400-square-foot modern office, a 51,330-square foot sprinklered warehouse and direct rail access on a 6.5-acre site. Each is further enhanced by the park's modern utilities, street lighting, fencing and landscaping as well as its up-to date road system and railways.

"Also key to the park's sustained success is its willingness to accommodate tenants' needs," DeCicco states. As an example, he cites the upgrading last year of electrical service for new tenant Fast-Cast.
Since its inception the CASTLO CIC has worked to assist its member communities, which include Campbell, Struthers, Lowellville and Poland and Coitsville townships. Last year's activities include:

Also in 2001, CASTLO continued as an active participant on the Mahoning River Corridor of Opportunity team. The MRCO, a public/private partnership, works to restore economic viability to 1,470 acres of industrial brownfield alongside the Mahoning River that spans the borders of Youngstown, Campbell and Struthers. Players on that team include Campbell, Struthers and Youngstown, Mahoning County, Youngstown State University, the Youngstown/Warren Regional Chamber, Eastgate Regional Council of Governments, Mahoning Valley Economic Development Corporation, the State of Ohio, utility company representatives and major private landowners, DeCicco says.

CASTLO played a key part in several of the MRCO's activities last year, such as:

With 4,000 feet of riverfront property, CASTLO is also committed to a clean Mahoning River, DeCicco says. The CASTLO board recently contributed $1,000 of the $75,000 needed to advance the Mahoning River Environmental Remediation Study onto its $3 million feasibility phase, to be implemented from 2002 through 2004, and CASTLO is an active member of the Mahoning River Consortium, which has as its purpose to enhance and improve the quality of life throughout the entire Mahoning River watershed.

Meanwhile, several CASTLO Industrial Park tenants extended their leases in 2001, including Consumers Ohio Water Co., Mahoning Valley Electric Service Inc., A & A Landscape Services and Penn-Ohio Sealing Co. Inc. Additionally, Industrial limber & Lumber Co., located in the park since 1989, remains as an anchor tenant. Marking the end of an era, Paul LaRosa, who served as construction supervisor at the park from its inception, retired last year.

The CASTLO CIC's 21-member volunteer board of trustees, chaired by Mike Kusalaba of FirstEnergy, has as its president Marion Creed. Other officers include Mark Mediate, vice president, finance; Paul Stebelton, vice president, industrial park management, who last year attended his 200th board meeting; William Livosky, vice president, nominations and personnel; and William Ritter, vice president, program. Attorney Paul Stevens resigned from the board after 20 years of service, and in his place Jean McBride now serves as secretary/treasurer. Welcomed onto the board in 2001 were Julie Michael, regional representative at Governor Bob Taft's Ohio Region 12 economic development office, and Sarah Lown, grants analyst for Mahoning County.

Economically self-sufficient, CASTLO derives nearly 99% of its income from leasing space at its industrial park. It supports the surrounding community with its own real estate taxes as well as the state, municipal and school taxes its tenants' employees pay from their approximately $4,000,000 annual payroll.

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