American Greetings to Build New Headquarters
GDA Staff -- Gifts and Dec, 5/23/2011 12:06:16 PM
Westlake, OH - Greeting card manufacturer American Greetings Corp. plans to establish a new world headquarters at Crocker Park in Westlake, according to Crain's Cleveland Business. The company will leave its 50-year corporate home in an industrial park in Brooklyn, OH. To keep American Greetings in Ohio, the state committed $15 million in loans and $3.5 million in grants. The state Legislature also approved an adjustment to the existing Job Retention Tax Credit program, which provides tax credits to Ohio companies.
The company plans to develop a 700,000-square-foot complex on a 13-acre site and move in 2014. Even with the state subsidy, the company expects to spend tens of millions of dollars of its own.
The mixed-use nature of the center, with restaurants and stores, appealed to the stationery vendor because it can both attract and inspire employees.
The city of Westlake and Stark Enterprises plan to expand the mixed-use town center by adding more than $100 million in additional retail offerings, a hotel, a parking garage and other civic spaces and public improvements.
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