Cutrona Announces Tax Credit for Central Tower in Youngstown

COLUMBUS—State Senator Al Cutrona (R-Canfield) announced a $2 million tax credit to support the rehabilitation of Central Tower in downtown Youngstown. This tax credit came from the Historic Preservation Tax Credit program.

"Central Tower is the heart of downtown Youngstown," said Cutrona. "I look forward to seeing this project completed and how it transforms the downtown area. The more we invest in historic buildings the longer we preserve their stories and communities across the state." 

Central Tower is the tallest building in the city and originally served as the headquarters for the Central Savings and Loan Company. The rehabilitation project will turn the property into a mixed-use building with 64 apartment units and office space. 

The Historic Preservation Tax Credit program is administered by the Ohio Department of Development in partnership with the Ohio History Connection’s State Historic Preservation Office. 37 projects will be awarded $56,125,248 in tax credits to preserve 42 buildings across the state.

Learn more about the program here.