US-based paint and coatings maker Sherwin-Williams Company is planning to invest $600m for the construction of new global headquarters in downtown Cleveland and a new R&D centre in Brecksville, Ohio.
The plans to build the new facilities are subject to completion of standard due diligence as well as approvals of incentives and other matters at the state, county and city levels, and resolution of business.
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Sherwin-Williams chairman and CEO John Morikis said: “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.
“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.
“We currently operate out of a 90-year-old headquarters building that has served us well but is no longer conducive to meeting our future needs.
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“The major planned investment in Cleveland and Northeast Ohio we are announcing today reflects our confidence in the continued strength of the region and its people and our public partners’ ability to deliver on their commitments.”
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By GlobalDataSherwin-Williams expects that the planned investment will support long-term growth and improve the ability to serve customers.
Covering an area of approximately 1,000,000ft², the new global headquarters will be located in downtown Cleveland just west of Public Square between Saint Clair Avenue and Superior Avenue.
Planned to be built off I-77 at Miller Road and Brecksville Road, the approximately 500,000ft² R&D centre is intended to serve as the corporate anchor for a new mixed-use development project.
Sherwin-Williams, which is working with several state and local partners on the project, expects to complete economic development packages and other matters over the next several months.
The firm said that the transition to the two new facilities is not expected until 2023.
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A Sherwin-Williams Company’s store in Hillsboro, Oregon in the US. (Credit: M.O. Stevens)
