Arthur Middleton Capital Holdings Expands Operations – Arthur Middleton Capital Holdings has invested $10 million in the acquisition and renovation of the former 407,000 sq.ft. TransWorld building in Jackson Township. The newly renovated facility will hold warehousing, distribution, and order fulfillment for Arthur Middleton companies. Among those companies are PatentHEALTH, a dietary supplement company; Heat Surge, which sells patio grills and space heaters; and World Reserve Monetary Exchange, a collectible coin distributor. Part of the $10 million in building renovations is a 10,000 sq.ft. vault, which company officials say is the biggest outside the Federal Reserve and U.S. Mint system. World Reserve, which uses the vault, is the single largest purchaser of coins and currency according to a company official. Arthur Middleton has pledged to bring in 247 jobs over the next three years, with 56 of those people who were previously employed by TransWorld. Company officials said employment could go as high as 500 or more jobs. Ohio Lt. Gov. Lee Fisher was on hand to celebrate the announcement. To read more about the investment, click here for The Repository article.


Ohio Tax Reform Generates Job Growth – At the conclusion of the second year of a five year rollout, business investment is accelerating in the State of Ohio. Ohio’s business and elected leaders collaborated three years ago on the most sweeping tax reform in the state’s history. Elimination of taxes on capital investment, inventory, sales of goods and services to customers outside of Ohio, and corporate income and franchise taxes have combined to make Ohio an ideal location to build a successful global business. Site Selection magazine, for the second straight year, awarded Ohio the Governor’s Cup for the most new and expanded capital projects. To get a basic overview of the tax reform and the impact across all industries, click here.


Northeast Ohio Industrial Real Estate Market Strong – Team Northeast Ohio (Team NEO) released its latest quarterly Northeast Ohio Economic Review with a focus on the region’s industrial real estate market. Total amount of occupied space for industrial square feet is larger than any time since 2000 and the vacancy rate is the second lowest in the last five years. Among other findings are the following: the region is using 11 million more industrial square feet than was used in 2004; vacancy rate for the Cleveland Plus region is at 8.4%, the second lowest point in the last five years; and the Cleveland Plus region is the sixth largest industrial market in the country. Also included in the Economic Review are updates on basic economic indicators for the 16 county region. For further details, click on this Cleveland Plus business site to download the Economic Review.

 

Stark Development Board

(330) 453-5900
Fax: (330) 453-1793