Thursday, May 03, 2007
Single Move Placates Two Major Local Employers
The Beacon this morning reports on a move that helps keep two major employers in Akron happy and here.
Sterling will purchase the FirstEnergy building located on property adjacent to their Ghent Road campus. FirstEnergy states it had not intended to sell the property, but it seems to make sense given their expansion on White Pond Drive. The two companies employ about 4700 people in Summit County, a majority of them in Akron proper.
The city is putting up about $5.5m in funds for the White Pond facility, but the story seems to confuse the TIF contribution.
Regardless, the price tag of $5.5m is more than half what Issue 17, if passed, is expected to generate for economic development projects, leading me to suspect those funds would be used more for land banking and not infrastructure projects.
Sterling will purchase the FirstEnergy building located on property adjacent to their Ghent Road campus. FirstEnergy states it had not intended to sell the property, but it seems to make sense given their expansion on White Pond Drive. The two companies employ about 4700 people in Summit County, a majority of them in Akron proper.
The city is putting up about $5.5m in funds for the White Pond facility, but the story seems to confuse the TIF contribution.
Regardless, the price tag of $5.5m is more than half what Issue 17, if passed, is expected to generate for economic development projects, leading me to suspect those funds would be used more for land banking and not infrastructure projects.
Labels: Akron Institutions
# posted by Jason Haas @ 7:17 AM 
