Parma experiencing investment in commercial and industrial sectors

10/2/2012
FOR IMMEDIATE RELEASE
October 2, 2012

Contact: Jeannie Roberts (440) 885-8181 (216) 346-9935

Parma experiencing investment in commercial and industrial sectors PARMA, Ohio - Mayesh Wholesale Florist, Inc. has purchased the vacant Great Lakes Tool facility at 12631 Plaza Drive, bringing 12 jobs to Parma, along with the expectation of expansion and new hiring. This purchase marks the third and final purchase of previously vacant manufacturing space on Plaza Drive over the last two years. OSG/Sterling Die purchased and renovated the former Earnest Products building at 12502 Plaza and Absolute Haitian purchased and renovated the former Clamco building at 12900 Plaza.

Said Parma Mayor Tim DeGeeter: “We are thrilled with Mayesh’s investment. Each of these purchases demonstrates a long-term commitment that we will do all in our power to foster and build upon.”

Tentative market value figures for 2012 recently released by Cuyahoga County show Parma experiencing a 3.2% increase in commercial and industrial property values over 2011. Currently, there are no vacant buildings zoned for manufacturing on Plaza, Corporate or Venture Drives listed for sale. Space for lease there is also very limited.

City Council recently approved Economic Development Grant Awards to Melin Tool, OSG/Sterling Die, Eaton Corporation, CopperLogic Inc., and will soon review a new agreement for Marlin Manufacturing. Each agreement shares a percentage of payroll taxes paid back to the company for its reinvestment into job creation and expansion.

“Our administration will continue to partner with our existing companies as we look to find ways to assist our manufacturers with expansion and job creation,” Mayor DeGeeter added.

The City of Parma’s efforts to assist small business with expansion is bearing fruit. In 2011, Parma demolished residential structures at 7404 Snow Road and 8213 Greenlawn to make way for much needed parking and building expansion. S-N-H Properties recently gained approval from the City Planning Commission to expand the parking lot serving its retail center at 5772-96 Ridge Road, while Chuppa’s Marketplace at 5640 Pearl Road will look to expand its parking and retail structure.

“Addressing the parking needs of our small businesses is paramount,” Mayor DeGeeter said. “Instead of having successful businesses outgrow their space and move, we will do everything possible to implement projects like this to make things happen and keep those jobs and those storefronts active and profitable.” -30-