American Greetings to Stay in Ohio
Beachwood's Chagrin Highlands still in the running for new headquarters
American Greetings announced this morning that they had further narrowed the pool of potential sites for a corporate headquarters – and Beachwood is still in the running.
The announcement that AG would stay in Ohio came at a press conference this morning after Gov. John Kasich approved new tax incentives that target companies like American Greetings. Ohio has committed $15 million in loans and $3.5 million in grants to keep American Greetings here.
American Greetings was considering two sites in the Chicago area prior to this morning.
Now the company is considering renovating their Brooklyn office or moving to one of four sites in Northeast Ohio cities: Chagrin Highlands in Beachwood, Westlake, Independence and Brecksville.
Last year, the company and its employees at the Brooklyn office paid more than $14 million in state and local taxes.
American Greetings CEO Zev Weiss said that the company would begin to invest in the headquarters in the Greater Cleveland area sometime this year.
Eaton’s world headquarters is under construction in the Chagrin Highlands now and is expected to be complete next year.