GREEN As it plans an estimated $925,000 expansion on property at 3570 Forest Lake Drive, New Innovations has decided to stay in Green.
As part of a municipal economic development grant agreement with the city, approved by city council Oct. 24, the expansion will also including the hiring of at least 20 new employees and an estimated $1.4 million in annual payroll in the next five years
Ward 2 Councilman Bob Young said the agreement is a good opportunity for the city to retain a "thriving business," as well as a good opportunity for the company, located at 3540 Forest Lake Drive, to expand its operations in the city.
The agreement calls for New Innovations to complete the expansion on property adjacent to its existing location, making an estimated $750,000 in building improvements, in addition to the additional hires.
The city will withhold 50 percent of income tax revenues generated from the new employees, so long as revenue exceeds $80,000.
The company currently has 63 full time and 10 part-time employees and has an annual payroll of $3.7 million.
Council also authorized Mayor Gerard Neugebauer to apply for federal transportation grant funds through the Akron Metropolitan Area Transportation Study for several projects throughout the city.
Council members approved entering into a contract with Aecom for professional engineering services that also appropriates $250,000 for engineering services related to a proposed roundabout project at State Route 619 and Myersville Road. Engineering for this project is expected to be completed in 2018 with construction beginning in 2019, Council President Chris Humphrey said.
Two other resolutions were also passed, the first authorizing the mayor to apply for Clean Ohio Green Space Conservation Program funds to be used for the removal of invasive species and trailhead parking at Southgate Park and stream channel improvements at Boettler Park, and the second approving a two-year, $35,530 contract with Pavement Management Group for pavement evaluation services.