The city of Cleveland, developers, and the company have been negotiating for a year over the manufacturer's needs for a new headquarters, which was thought to have been moving to a nine acre site in the Flats.
Late Wednesday, Cleveland Mayor Frank Jackson released a statement expressing disappointment and confirming the announcement. He said the city had offered a list of items to entice the company to stay, including:
• Tax increment financing worth approximately $20-25 million;
• A port authority land sale of 9 acres of prime port property in advance of its long-term relocation plan; and,
• A multi-million dollar relocation of RTA’s waterfront rail line.
The mayor said he also had designated the Chief of Regional Development to quarterback the coordination of these incentives as well as discussions with the state to provide additional tax credits and direct investments.
