Economic Development Futures Journal

Friday, March 04, 2005

counter statistics

"Pay Me and You Can Keep Me"

That's sort of the bottom line message of a recent Plain Dealer article about Avery Dennison Corporation.

The firm wants tax breaks to help it build a corporate center in Willoughby Hills and move 450 jobs from its existing site in Concord Township, also in Lake County (Ohio).

Company officials said the relocation/expansion is partly based on incentives, including a proposed 100 percent tax abatement on the Willoughby Hills site over the next 15 years. Do the math. This is an important investment deal, but that's a lot of tax revenues.

The company says it will add 60 new jobs over the next three years related to with the new facility. That's the good news. Currently has 450 employees at the Concord facility. Including its other operations, Avery has nearly 1,800 workers in Northeast Ohio, which makes it an important employer in the region.

More here.

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