Two companies in Beachwood are looking for larger spaces as they continue to grow, and Beachwood city officials want to offer incentives to keep them and their jobs in the city, Cleveland.com reports. Glenmede, an investment and wealth management firm, employs 23 people with a payroll of $2.5 million. Real Alloy Recycling, an aluminum recycler, has a payroll of $4.6 million, which it expects to grow to $8 million with new hires. Both companies say they need to move from their current locations to gain more space for their businesses. Beachwood Economic Development Director Jim Doutt outlined Glenmede’s plan, which includes “a one-time $50,000 occupancy grant. . . .[and] a 35-percent job retention and creation grant.” Real Alloy Recycling would also receive the $50,000 occupancy grant, “a 50-percent job retention and job creation grant, from 2016–20, for the 45 jobs Beachwood would retain, and the 32 new jobs expected to be created over those five years.” Both companies are considering Beachwood as well as other cities for their expanded operations. For more, read the full article.
Beachwood proposes incentive packages to retain two expanding companies
