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Economy and Business


Omnova Solutions heads to Beachwood
Tax incentives help the company leave Fairlawn to build a new headquaters in Cuyahoga County.
by WKSU's MARK URYCKI


Senior Reporter
Mark Urycki
 
Omnova's latex plant will remain in Mogadore but the HQ will move to Cuyahoga County.
Courtesy of Omnova Solutions
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In The Region:

One of the last vestiges of General Tire in the Akron area is moving its headquarters to Beachwood. Omnova Solutions is leaving Fairlawn but says it will maintain a commitment to Akron.  

LISTEN: Omnova's partial move

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Goodyear and Firestone recently built new facilities in Akron, but Omnova will build  a new headquarters at the corner of Richmond Road and Harvard. The specialty chemical company, once known as Gencorp, was part of General Tire, whose Akron roots go back almost a century.

Omnova is a polymer company that makes laminates, wall coverings, carpet and more. Spokesman Sandi Noah says with its Fairlawn lease running out, the company decided that Northeast Ohio has all the resources it needs and focused on the I-77 / 271 corridor.

“We looked at virtually all of the available existing office space and suitable building sites in a broad area stretching from Akron to downtown Cleveland and everywhere in between, and the Beachwood site was the best match to our criteria.”

Beachwood, the state of Ohio, and Warrensville Heights schools offered a package of tax incentives and low-interest loans. 

“They offered job and relocation grants. And we also have participation from the state of Ohio through a Tax Increment Financing structure that some call a TIF.  And then we also will include some low rate long-term financing. The finance arrangements are still being worked, but generally that’s kind of the three pools of financing.”   

About 110 employees will make the move to a new building in Beachwood. Two-thirds of their Northeast Ohio workers will remain in Summit County at plants in Akron and Mogadore and a technology center in Akron.  

“We remain deeply committed to the Akron area.  With these three facilities, Akron will continue to be very very important to us.  We recently invested nearly $9 million to upgrade and modernize the facilities here.”

Sandi Noah says Omnova's new building will allow for greater teamwork and collaboration among staff and the new location offers greater visibility for the company. 

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