ANNOUNCEMENT 06 Feb 2020

The total package of financial incentives was valued at $14 million.

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 06 Feb 2020 | Removal date: open ended

Financial grant

On February 6, 2020 the city government of Cleveland, Ohio announced that the paint company Sherwin Williams agreed to build its new global headquarters in the city. The city said that was “working with Cleveland City Council leadership to finalize the incentive package details,” which was expected to reflect the retention of 3,500 current jobs and a minimum of 400 new jobs over time. Subsequent press reports indicated that the total package of financial incentives was valued at $14 million, with half of that money coming from the county's reserve general fund, another $5 million from an incentive grant from the county economic development fund, and the remaining $2 million from the community development fund.

AFFECTED SECTORS