Delivering Benefits that Drive Development
The Concord-Painesville JEDD is located in Concord Township at the juncture of I-90 and S.R. 44, where Concord and Painesville are fostering economic development that will benefit both communities and JEDD members. Our mission is to serve, lead, innovate, nurture, and grow development that will benefit both communities. As a member, you can take advantage of:
- Utilities & Infrastructure: Discounted utilities (water rates); existing and newly improved infrastructure that enhances accessibility and improves safety.
- Reduced Costs: Eligibility for financial grants for certain property improvements and financial support for workforce training programs.
- Community Support: A network of businesses and residents who support the community's growth and prosperity
- Location: Desirable location at I-90 and S.R. 44, a transportation link for the tri-county area of Ashtabula, Geauga and Lake, including:
- Premier positioning within the emerging healthcare corridor with Lake Health TriPoint Medical Center, Concord Village Skilled Nursing and Rehab, an $11.5 Million investment competed in 2016 and Vista Sprints Assisted Living Facility, an $18 Million investment completed in 2017, and University Hospital's Concord Health Center, all of which bring more than 1,300 employees to the corridor daily, along with visitors.
- Opportunity to be a part of future development in an attractive region of Northeast Ohio.
The Concord-Painesville JEDD was recognized by economic development agency Team NEO for its “Regionalism & Cross Border Collaboration.”
“We are always looking for ways to provide services through the JEDD that businesses and property owners might not be able to get elsewhere. By being a part of the JEDD, members have a role in what is becoming a destination location.”
–James O’Leary, JEDD Board Chairman, attorney with Baker Hackenberg & Hennig Co.
Growing Light Industrial and R&D Businesses
The Concord-Painesville region is a hotbed for national and international light industry and R&D companies. The accessible location, available land and growing population in this region make it a developing center of commerce. Some of these businesses located in our business corridor include:
A global leader in environmentally friendly packaging, Ranpak has more than 250 distribution partners and employs more than 500 people worldwide.
De Nora Tech
De Nora is one of the world's largest manufacturers of electrolyzers, electrodes, coatings, electrochemical and water treatment technologies. The global company serves diverse markets, from energy to food service.
Landis Corp (CITCO Tools)
As an industrial engineering group, Landis designs and supplies machines, process equipment and production lines for the world's largest industrials. Located in more than 30 countries and with nearly 8,300 employees, Landis is known for its technological expertise and competence in executing international projects.
Cometic Gasket, Inc., is a leading worldwide supplier of gaskets and engine sealing solutions for the automotive performance, powersports, original equipment and remanufactured engine industries. Its headquarters is in a 70,000 square-foot facility in Concord, and it supplies high-performance gaskets to a range of motorsports markets, including Harley-Davidson, ATV, drag race and more.
Pressure Technology, Inc.
Pressure Technology produces hot isostatic pressing to a range of industries, including aerospace and additive manufacturing. It opened its Concord, Ohio, location in 2002 and serves customers worldwide.
Tax Increment Financing (TIF) to Increase Value
Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements.
Tax revenue generated by undeveloped or underutilized property does not change. It is allocated at the same amount to the same recipients. TIF applies to tax revenue that exists because of new development or redevelopment. TIF is not tax abatement. Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.
Benefits of TIFs:
- Encourages development and helps finance infrastructure projects and improvements, such as new roads and public works projects
- Communities receive more tax revenue, which increase economic activity and creates a more sustainable business environment for JEDD members and beyond.
- Adds value to new development and redeveloped properties, which then generates additional taxes to support infrastructure and level expenses