Goodyear Riverwalk Project Named "Deal of the Year"
5/8/2008 1
Job growth, hundreds of millions of dollars in capital investment, and new mixed-use space in addition to retaining thousands of jobs at Goodyear’s headquarters earn the Goodyear Riverwalk “Deal of the Year” by Team Northeast Ohio (Team NEO).
The regional business attraction organization will honor Goodyear with this distinction, and recognize more than a dozen additional projects that have positively impacted Northeast Ohio’s economic potential at the upcoming Team NEO Economic Development Impact Awards being held June 4, 2008.
The Goodyear Riverwalk Project was finalized in December 2007 when Goodyear Tire & Rubber Company announced its intention to keep its world headquarters in Akron, Ohio. The City of Akron, County of Summit, State of Ohio, and the Summit County Port Authority agreed to finance $200 million of the $900 million project. Real estate developer Stuart Lichter has pledged $700 million to redevelop the Goodyear campus and to refurbish the existing headquarters facility for future tenants. When completed, the Goodyear Riverwalk project will include Goodyear, retail, light industry, and an office park. Not only will the more than 3,000 jobs in the Cleveland Plus region be retained, but additional business growth is estimated to bring in approximately 2,000 new jobs with an annual payroll of $80 million.
“This is a model example of what can be accomplished when public and private sectors join forces together,” said Thomas Waltermire, CEO of Team NEO. “Goodyear’s decision to retain its world headquarters in Northeast Ohio confirms that global businesses can thrive in our world-class region.”
This week, Team NEO also announced finalists for the annual Economic Development Impact Awards:
New Job Creation
• City of Cleveland & PR Newswire Association LLC
• R.E.A.L. Team
• Richland Economic Development Corp.
• Youngstown/Warren Regional Chamber
Job Retention
• Lake County Development Council
• City of Middleburg Heights
• City of Stow
Public-Private Partnerships
• Cascade Capital Corp.
• Cleveland Cavaliers, City of Cleveland & City of Independence
• Greater Cleveland Partnership
• Growth Partnership for Ashtabula County
Foreign Investment
• Ohio Department of Development, City of Akron, City of Beachwood, NORTECH, MAGNET, 5iTech & the Ohio Israel Chamber of Commerce
• Wayne Economic Development Council
Minority Job Creation/Retention
• Applied Technology Systems, Inc.
• The Cleveland Clinic
• Multicultural Business Center
Asset Creation
• City of Bedford Heights
• BlueBridge Networks LLC
• Omni Lakewood Limited
• City of Painesville
Community Improvement
• Civic Innovation Lab
• Lorain County Community College
Fostering Entrepreneurship
• The Entrepreneurs EDGE
• JumpStart
• YCACIC, Youngstown Business Incubator & Youngstown/Warren Regional Chamber
Marketing Cleveland Plus
• Akron-Canton Regional & Cleveland Hopkins International Airports
• Coleman Spohn Corp.
• The Timken Co.
One winner in each category will be announced at the June 4 event being held at the Embassy Suites Hotel in Independence, OH. Tables of 10 and individual tickets are available for sale. Please log on to inside-business.com to register.
Team NEO markets Northeast Ohio to attract business investment in targeted industry clusters. The organization is a joint venture of the largest metro chambers, representing 16 counties and their 4 million people. Team NEO serves as a central resource, informing and serving those considering investment in Northeast Ohio and is a co-founder of the Cleveland Plus Marketing Alliance, a coalition to drive strategic, long-term marketing for Northeast Ohio. For more information, visit www.teamneo.org.
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