Subsidy Tracker Individual Entry

Company: 
Sherwin-Williams
Parent Company: 
Sherwin-Williams
Subsidy Source: 
multiple
Location: 
Ohio
City: 
Cleveland
County: 
Cuyahoga
Project Description: 

HQ retention

Year: 
2020
Major Industry of Parent: 
paints and coatings
Specific Industry of Parent: 
paints & coatings
Subsidy Value: 
$114,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
3,240
Capital Investment: 
$300,000,000
Source of Data: 

The details on the city package were taken from: Robert Higgs, "Cleveland approves incentives to aid Sherwin-Williams development of $300M downtown headquarter, Cleveland.com, March 23, 2020; online at https://www.cleveland.com/cityhall/2020/03/cleveland-approves-incentives.... The county package was described in: Courtney Astolfi, "Cuyahoga County Council approves $14M Sherwin-Williams incentive package," Cleveland.com, March 16, 2020; online at https://www.cleveland.com/news/2020/03/cuyahoga-county-council-approves-.... Jobs data is taken from Cleveland City Council announcement on March 23. 2020: https://clevelandcitycouncil.org/news-resources/current-news/2020/counci...

Notes: 

To retain the headquarters of Sherwin-Williams in Cleveland, the city approved about $75 million via 30-year Tax Increment Financing, a $13.5 million construction grant and $11.5 million in job creation grant over 15 years. Separately, Cuyahoga County approved a $14 million grant. The state, via Jobs Ohio, approved subsidies for the project but has not made its package public. In return, the company promised to retain 3,100 jobs and create 140 new positions. The package was passed during COVID19 pandemic.

Source Notes: 
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