ECONOMIC DEVELOPMENT DEPARTMENT Catherine Bieterman, Economic Development Director
Departmental Initiatives: The City of Beachwood formalized a new Economic Development Department. It was established in an effort to form a collaboration between businesses, government and community stakeholders in order to leverage resources and implement the city’s economic development strategy and support initiatives within the city’s master plan. Economic Development Strategic Plan: The city’s economic development strategy includes a broad range of activities aimed at attracting, creating and retaining jobs as well as to foster a resilient pro-growth and inclusive economy. The approach to this includes formalizing a strong business retention and expansion program, marketing, entrepreneur and small business development, real estate development, revitalization and land-reuse. This also involves looking closely at the need for economic development tools and determining the best and optimal uses for incentives. Trailhead BioSystems: In Commerce Park, a laboratory and facility build-out began at the new headquarters and operations building for Trailhead Biosystems, Inc. The company has developed a revolutionary platform for generating specialized human cells for use in therapeutic cell development, drug discovery, organ-on-a-chip development, 3D organ printing and human disease modeling. The company is bringing in 22 employees with a payroll of $1.77 million. GE Current: On Science Park Drive, GE Current, under the name Current Lighting Solutions, brought operations to 25825 Science Park, including 115 employees and an associated payroll of $14.5 million. Current is a versatile, customer-driven lighting solutions company serving businesses and partners around the globe. With the industry’s widest selection of advanced lighting and intelligent controls, the company creates safer, efficient, inspired environments powered by smart, sustainable technologies. Porsche Beachwood: On Orange Place, the Porsche Dealership
The GE Current ribbon cutting ceremony in April.
Cathy Bieterman being sworn in on September 6.
chose a larger Beachwood location for its new, expanded facility on 6.5 acres. Penske Automotive Group went before City Council with plans to move the business from its current address, 25855 Chagrin Blvd., and to revitalize the site at the former Marriott Fairfield Inn. The new building, at 34 feet in height, will measure just over 57,000 square feet, and the site will include a second building for auto detailing that will occupy a little more than 6,600 square feet. 35 new jobs will be added. Former DoubleTree Site Project: On Park East Drive, a rezoning has taken place on a multi-million-dollar redevelopment project. In an effort to support this project’s advancement as one of the largest mixed-use developments in Northeast Ohio, the city has completed a collaboration with the developer, My Place, and the final plans call for a demolition on the former DoubleTree by Hilton hotel and the construction of a complex of buildings in a new mixed-use development.
City of Beachwood
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