GREEN Two major commercial construction projects are planned for 2018, bringing more than 100 new employees to the city.
City council approved a five-year, 100 percent community reinvestment area – or CRA – tax incentive with FedEx Freight and KW AKR at its final meeting of the year on Dec. 12. The agreement calls for the construction of a $16.5 million, 63,000 square foot distribution center on Global Gateway. The building will be built by KW AKR and leased by FedEx Freight for 15 years "with renewals contemplated thereafter," according to the CRA agreement.
Green Planning Director Wayne Wiethe said the CRA agreement also adheres to the city’s May 25, 2017, CRA agreement with the Green Local Schools, ensuring compensation to the school district during the period of the property tax exemption.
The FedEx Freight move to Green will also include the relocation of 74 full time and 34 part time employees from its location on Killian Road in Akron, with an annual payroll of $3.9 million. The CRA also calls for the hiring of 12 new full time and six additional part time employees between December 2018 and December 2022.
Meanwhile, Chase Bank has also had site plans approved by the city planning commission for a 3,300 square foot location on the northwest corner of Boettler and Massillon roads, Wiethe said.
"Chase Bank has no presence here (in Green) – I think the nearest branch is in Hartville - and they see it as an area they want to do business in," he said, adding that the city is also happy with the decision.
Wiethe said he expects construction at both locations to begin as soon as weather allows in 2018, with completion of the FedEx Freight building expected by the end of the year.