Tax rebate will keep Sweeping Corp. of America HQ in Seven Hills

Seven Hills City Council recently “approved an economic development job creation and job retention grant to keep the national headquarters of Sweeping Corp. of America” in the city, Cleveland.com reports. Mayor Anthony D. Biasiotta said Sweeping Corp.’s lease was expiring, and with other communities pursing the company, “[i]naction could have resulted in a loss of $95,000 a year of income tax,” according to the article. The approved agreement “is an income tax rebate in exchange for a 10-year lease” that “more than doubled” Sweeping Corp.’s square footage in the city. Seven Hills will provide a 25 percent rebate on the company’s current payroll of $3.8 million, and a 50 percent rebate on new payroll over the next decade. For more, read the full article.

Economic Development, Financial Incentives, State Updates