Two Cleveland development projects will generate combined $4.2M in annual payroll

Cleveland City Council approved development agreements for two companies bringing an expected 60 jobs totaling approximately $4.2 million in annual payroll into the city, Cleveland.com reports. A 10-year, 60-percent tax abatement on property improvements will allow Northern Stamping, Inc. “to expand its operations at a site on Harvard Avenue,” adding 28 jobs at an estimated annual payroll of nearly $1.4 million, according to the article. Dynamic Metal Services will consolidate operations “into a 280,000-square-foot building on Euclid Avenue,” bringing 30 jobs to the city. City Council granted the company a “10-year, 30-percent tax abatement on the site improvements.” For more, read the full article

 

Economic Development, Financial Incentives, State Updates