ECONOMIC DEVELOPMENT Catherine Bieterman, Economic Development Director
catherine.bieterman@beachwoodohio.com 216.292.1915
Improving Economic Well-Being The City of Beachwood’s Economic Development Department is delivering programs intended to improve the community’s economic well-being and quality of life. This past year, the department’s focus has been on the implementation of the City’s Economic Development Action Plan and has delivered a broad range of activities to attract, create and retain jobs and to foster a resilient, pro-growth tax base and an overall inclusive economy. The Department of Economic Development hosted roundtable discussions on the topics of Workforce Development and Commercialization, Innovation, Technology, Research and Development which has resulted in further alignment with companies that are adding new employees, while growing and expanding operations here in the city.
The Mayor’s Business Reception held at Canterbury in November. Photography by Discovery Photo.
New Economic Development Programs • PACE/STEP: PACE provides long-term financing to commercial property owners to assist in lower energy costs, and improvements that will significantly upgrade commercial buildings. For commercial property owners who are looking to complete an energy efficiency or renewable energy project, STEP offers financing from $5,000 to $125,000. • Revolving Loan Program: This program supports the growth of a loan program fund to assist commercial property owners and business owners working in collaboration with participating financial institutions. • Linked Deposit Program: The Linked Deposit Program provides a revolving loan fund for Beachwood companies who may receive an interest rate reduction on a commercial loan. 2023 Highlights
• MasterBrand: The City of Beachwood is pleased to announce that MasterBrand, the number one leader in the North American residential cabinet business, has opened its national headquarters in office space in one of Beachwood’s prime commercial corridors. MasterBrand’s presence is anticipated to bring an increased total payroll of $7.25 million and an expected $2 million in new capital investments to 3300 Enterprise Parkway. • Skoda Gordon Dentistry: The City of Beachwood has supported demolition of an underutilized office building for Skoda Gordon Dentistry’s new medical office building. The building will be approximately 5,000 sq. ft. of Class A medical space located at 25115 Chagrin Boulevard. The city provided a Community Reinvestment Area Tax Abatement for this project.
• Eaton TIF Extension: The City of Beachwood extended the Tax Increment Financing (TIF) at Eaton Boulevard to support future infrastructure in this area. TIF funds can be used to finance existing infrastructure improvements and new infrastructure projects. • Customer Relationship Management System: The system will enable the Office of Economic Development to more efficiently provide continued communication and dialogue to companies within the city looking to grow and expand operations. The department hosted three interns this summer to assist with the project, along with other assignments. • Mayor’s Business Reception: The department hosted a Mayor’s Business Reception bringing together the Chamber of Commerce, Beachwood City Schools, key community stakeholders, business representatives, and property owners with enlightening discussions supporting economic development objectives within the city. • Grand Opening of the Ahuja Medical Center, Drusinsky Sports Medicine Institute: 2023 marked the grand opening of the 216,000 sq. ft. hospital tower addition and 78,000 sq. ft. sports medicine complex offering new opportunities for healthcare, as it expanded the medical center by more than 68 percent. The Ahuja phase two expansion has paved the way for new health and wellness initiatives, including labor and delivery services, sports medicine, men’s health, women’s health and breast health, and an expanded emergency department.
City of Beachwood
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