The Sherwin-Williams Company (Cleveland, Ohio, USA) recently announced it is in the final stages of plans to build a new global headquarters in downtown Cleveland, as well as a new research and development (R&D) center in Brecksville, a suburb in the Greater Cleveland area.
These plans are the culmination of a months-long competitive site selection process, according to the company. Back in November, Sherwin-Williams announced it was seeking sites for its new facilities, with Cleveland positioned as a strong contender. The plans are still contingent on completion of standard due diligence, approvals of incentives at the state, county, and city levels, and the resolution of business and legal affairs.
“Our plans to continue investing in Cleveland and Northeast Ohio build on our 154-year legacy as one of the region’s top employers and drivers of economic activity,” says John G. Morikis, chairman and chief executive officer for Sherwin-Williams. “Driven by our continued need to serve our customers at the highest level and retain and attract top talent, we intend to create a next-generation workplace environment that ignites creativity, collaboration and industry-leading innovation.”
Morikis says that Sherwin-Williams’ current headquarters is based out of a 90-year-old building that can no longer meet the company’s needs. The planned investment in Cleveland and Northeast Ohio, he adds, “reflects our confidence in the continued strength of the region and its people and our public partners’ ability to deliver on their commitments.”
Sherwin-Williams plans on making a minimum of $600 million to build both the downtown headquarters and the suburban R&D center. The approximately 1,000,000-square-foot (92,903 m2) headquarters and approximately 500,000-square-foot (46,451 m2) R&D center are expected to staff more than 3,500 employees with room to accommodate significant future growth. According to Sherwin-Williams’ internal estimates, at least 400 new jobs will be added to these two facilities over time, which would represent an 11 percent increase to the company’s current local workforce.
“We are pleased to be a partner with Sherwin-Williams on this highly competitive project,” says Ohio Governor Mike DeWine. “Sherwin-Williams is an important part of the Cleveland and Northeast Ohio community, and the announcement…will provide good jobs and strong economic acidity for Ohioans for years to come.”
Plans for the new global headquarters and R&D center are expected to be rolled out over a multi-year period. Transition to the new facilities is not expected to occur until 2023 at the earliest, and the company has yet to announce plans for disposing of its current facilities or building its projected ones.
Source: Sherwin-Williams, www.sherwin-williams.com.