Russell Equipment settling into new headquarters
TWINSBURG TWP. – An Enterprise Parkway industrial building, which has experienced on-again, off-again occupancy since it was constructed in the 1980s, appears to have a bright future in store.
At the Twinsburg-Reminderville Joint Economic Development District board’s quarterly meeting March 2, JEDD Administrator Rob Kagler reported locally owned company Russell Equipment Inc. bought the site in November for $9.8 million.
A 300,900-square-foot building sets on 15 acres across the road from Township Hall, and the company has been relocating equipment there from its two Twinsburg facilities on Hadden Drive and Midway Drive.
According to its website, the firm is the world’s largest single source for off-lease used material handling and other mobile plant equipment. Since 1982, it has provided sales to original equipment manufacturer and independent dealerships, plus end-user customers.
It operates other facilities in Las Vega, Savannah, Ga. and Pharr, Texas. Kagler, who also is Twinsburg Township administrator, said the firm bought the site from Stanley Black & Decker, which owned it for just under two years and decided not to use it for expansion.
Kagler said the site previously had a number of owners and occupants, including Mid-America Packaging, Maytag, Fannie May and several food service companies. He added a Streetsboro firm is interested in relocating to RE’s Hadden Road site.
Meanwhile, the JEDD board approved grant payments and escrow refunds for Churchill Steel Plate Ltd. and HB Chemical Corp.
For year 6 (2019) of their Job Opportunity Incentive Now agreements, Churchill will get a full grant payment of $13,718 and HB Chemical will get a reduced grant payment of $13,887.
Kagler said Churchill created 49 new jobs (its projection was 43) for a new annual payroll of $3.22 million (its projection was $1.83 million).
In addition, $14,000 was escrowed by the JEDD board as part of its 2019 budget, and after payment of that amount to Churchill, $282 in remaining escrowed funds will be split $197.40 and $84.60 between the township and village, respectively.
HB Chemical created 34 new jobs (its projection was 43) and had a new annual payroll of $2.5 million (its projection was $2.65 million).
In addition, $20,000 was escrowed by the JEDD board as part of its 2019 budget, and after payment of that amount to HB Chemical, $6,113 in remaining escrowed funds will be split $4,279 and $1,834 between the township and village, respectively.
The JEDD’s 2020 net revenue was $2.9 million, with $2.03 million going to the township and $870,622 going to the village. The total figure was down from $3.43 million in 2019. As of Jan. 15, net revenue for 2021 was $174,332, with $122,032 going to the township and $52,299 to the village. Revenue is split 70/30.
The net revenue estimate for all of 2021 is $2.09 million, while 2022’s estimate is $1.67 million.
Kagler acknowledged a thank-you letter from Twinsburg High freshman Austin Holoman-Rawls, who was awarded a JEDD board scholarship. The next board meeting is June 1 at 7 p.m. in Township Hall.
The JEDD was established in 2002 and levies a 1.5 percent on employee wages and business net profits in the JEDD area, which includes all land in the township’s industrial district. The tax is collected by the Regional Income Tax Agency.
The JEDD’s primary purpose is to promote jobs and economic development in the JEDD area, and the board has overseen significant investments in that area.
Members of the board this year are Councilmen Tom DiCarlo (chairman), Walter Hoffmann and Rodney Wiggins from the village and Trustees Jamey DeFabio (vice chair), James Balogh and Thomas Schmidt from the township. Alternates are Dale Lumby from the township and Mark Kondik from the village.
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