Monday, August 3, 2009

Falling In Love With Youngstown

Following up on Friday's post, the skinny about how a cutting edge company ends up in Youngstown:

Revere Data LLC, with offices in San Francisco and Manhattan, will relocate its research and development operations to Youngstown in early September, said Jim Cossler, executive director of the Youngstown Business Incubator.

“They’ve been in town over the last nine months and have been engaged in their due diligence,” Cossler said. Five Revere employees will staff the downtown office when it opens, but the company thinks that number could grow to 30 by this time next year, he said.

The five -- most of them in their late 20s -- visited the area last weekend and “fell in love with Youngstown,” according to Cossler. They were especially impressed at the low cost of living here. ...

... Revere Data was struck by the low cost of doing business in the Youngstown area. “They don’t need to be based in San Francisco,” Cossler said. “They could conduct their business anywhere.” He also added one of the company’s executives has ties to the area.

Youngstown has something of value, something to sell. But the native connection is key. That's why we are building a diaspora network for the Steel Valley. Successful expatriates can and will help the region attract business.

I love what Youngstown can offer. Rust Belt culture appeals to me. Few shrinking cities can match the opportunity and access afforded in the Mahoning Valley. Concerning geographic arbitrage, Youngstown has a big head start. The innovation cluster blossoming in downtown provides a strong competitive advantage.

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