Investments discussed at Steubenville Council meeting

Steubenville City Council met to discuss strategies for spurring investment, particularly through a proposed tax abatement program for undeveloped properties. Councilman Tracy McManamon underscored the need for innovation, asserting, "We can’t keep doing the same thing and expect different results. " The tax abatement could provide up to a six-year local property tax exemption for qualifying commercial or industrial sites, alleviating some financial burdens during development. Law Director Costa Mastros cautioned that tax abatements are only one tool for economic growth, alongside others like TIF and CRA. Sixth Ward Councilman Mike Hernon raised concerns about the potential strain on the city's budget from tax abatements.

Additionally, council members discussed the feasibility of hiring a community development specialist to enhance the city's appeal to investors. McManamon noted that such specialists could leverage their networks to attract businesses. The estimated cost for this position would be around $54,000, slightly exceeding the current expenditure for related services.