Eaton Corporation's employees will be in their new Richmond Road world headquarters by mid-February, the company said.
The company is moving about 700 employees from its downtown Cleveland, Willoughby and Eastlake offices to the five-story LEED-certified building in the Chagrin Highlands.
The global company's presence in Beachwood is a boon for the city, said Beachwood Economic Development Director Jim Doutt, who called it the biggest economic development event of the year for all of Northeast Ohio during a meeting with council early this week.
"Welcoming Eaton to Beachwood is taking a community such as ours, that is already such a great place, and is known as a great place to do business, and adding more luster to it," Doutt said Friday.
"The reach of it is very positive," he added. "They are a global company and they will be, I'm sure, doing a great deal of business with outside entities coming to Beachwood and being exposed to Beachwood, perhaps for the first time."
The headquarters has already spurred the development of and city officials are working with businesses on more commercial development on adjacent properties.
“Our new Eaton Center campus reflects our commitment to the continued growth of our global power management business, to our people and to Northeast Ohio,” said Alexander M. Cutler, Eaton chairman and chief executive officer in a press release. “This reaffirms our century-old commitment to the Cleveland area at a location with the potential for future growth.”
Eaton, a $16.3 billion company, has about 1,800 employees in 10 Cleveland-area locations and over 100,000 worldwide.
“I want to thank the state leaders, Beachwood officials and the Cleveland-Cuyahoga County Port Authority for their involvement and insights in the construction of our new facility,” Cutler said. “The new Eaton Center campus underlines the pride in our heritage and the confidence in our future.”