An industrial boom is taking place in Euclid as companies expand in the city’s Industrial Corridor. While Amazon creates a sizeable footprint at the former Euclid Square Mall location, the lakefront is making headlines with revitalization efforts.
“We’re experiencing a renewed investment in the city. Euclid is coming back,” says Mayor Kirsten Holzheimer Gail, who attributes the success to “having a great team and a development staff that’s highly responsive.”
The city made noise with its announcement that online retail giant Amazon planned to create a fulfillment center at the blighted Euclid Square Mall. Amazon will make a $175 million investment in the 650,000-square-foot building and will bring a minimum of 1,000 jobs to the area. Gail credits Team NEO for making introductions in March 2017 in addition to collaborations with county and state governments.
The considerable growth Euclid is experiencing in its Industrial Corridor is based in large part on tax abatements, according to Gail. “This is our best tool. We’re offering a 15-year, 100 percent tax abatement. The abatements were established in the 1990s and were specifically intended to spur development.”
The city is witnessing firsthand that this enticement works. Lincoln Electric is expanding its world headquarters location with a 130,000-square-foot addition and $30 million investment in its Lincoln Electric Welding Technology and Training Center. Students from around the country will learn about the latest tools of the trade and welding techniques.
Keene Corp. broke ground in Fall 2017 for its 25,000-square-foot expansion. Its new steel structure will provide more efficient space at this headquarters location.
DriveTimeDistribution Center, one of the country’s largest used car dealerships, constructed a refurbishment center for bringing cars to standard to eventually ship to dealerships throughout Northeast Ohio. Its $1 million investment in its HGR building location was in addition to the $10 million investment made by HGR building owners to the former GM Inland Plant. DriveTime has 100 employees.
American Punch Co. is creating a 24,000-square-foot addition to its Euclid headquarters, slated to open by early 2018, bringing new equipment and employees to the city.
In addition, Ray Fogg is constructing its third industrial building in the corridor.
But there’s more than tax abatement attracting businesses to Euclid. The city has its own wastewater plant boasting lower rates than those offered by Northeast Ohio Regional Sewer District. A $140 million upgrade is under way to meet clean water standards.
The city’s Lakefront Project is bound to set the standard for beautification projects throughout Northeast Ohio. Euclid constructed an impressive new pier in 2014. Now, the city is obtaining permits to proceed with an $11.5 million second phase which will include the creation of a boardwalk, a paddle craft area and efforts to promote erosion control. The county’s $4 million contribution to the project makes Euclid the first recipient outside of the City of Cleveland to receive casino grant money. Gail credits easements from private property owners for making the Lake Erie project possible. “Euclid is growing and progressing,” she says.