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June 2015
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In our March newsletter we focused attention on the Arhaus Corporate Headquarters facility project, our first transaction in the Village of Boston Heights. This newsletter features our first project in the  City of Hudson, the RAMCO Corporate Headquarters and manufacturing plant. We continue seeking to provide value to communities and companies throughout our region and trust you will find this newsletter to be useful and informative.
RAMCO remains in Hudson

RAMCO Specialties, Inc. is building a new corporate headquarters, manufacturing and distribution center in Summit County. The project financing closed on April 30, 2015 with DFA issuing $13,600,000.00 of conduit taxable development revenue bonds in cooperation with First Merit Bank, as the bond purchaser.

Site clearing has been completed and Geis Construction is underway with physical construction on the 165,000 square foot RAMCO facility in Hudson, Summit County, Ohio. This new facility will streamline the company's existing operations by consolidating three adjacent facilities at their current Hudson location. The new facility will let RAMCO install new equipment, move production that is currently completed in Taiwan into the new Hudson facility, and the site provides the ability to expand 130,000 square foot to the north and 52,000 square foot to the west once the new building is completed. RAMCO will retain all 130 employees and anticipates creating over 20 additional jobs within the next four years.

"We were very pleased with the support we received from the DFA, the City of Hudson and First Merit Bank" said Rick Malson, RAMCO president "Everyone worked well together on this project to make our decision to stay in Hudson very easy. We look forward to continuing our success story here in Summit County".

"The City of Hudson has been working closely with RAMCO over the past year" said Economic Development Director Chuck Wiedie "and are extremely pleased that they have decided to grow and invest in Hudson". "The company has been an integral part of the local economy for almost three decades, and we look forward to seeing it evolve and bring more jobs to Hudson".

Link to RAMCO website. 

CREW Bus Tour
Beth Leonard, DFA Finance Manager and CREW Greater Akron Board Secretary, chaired the CREW Bus Tour Committee again this year. The tour started on the 2nd floor lobby of the AES building with a discussion on the renovation and history of the building given by Tom Weise of the Schipper Group. A rare inside visit to the Lockheed Martin Airdock was the next stop. The tour finished up at the Concord Testa Courtyard by Marriott hotel that is currently under construction at the north end of downtown. Joel Testa led the group on a personal tour of the facility. It was an enjoyable day with beautiful weather!

CREW Greater Akron is the local chapter of the CREW Network, the premier organization for women professionals in the commercial real estate industry.
Foreign Trade Zone Program
Want to Learn More About the Foreign Trade Zone Program?
NEOTEC is hosting a seminar that will focus on how the FTZ program works, its benefits, compliance and regulation, and the application and activation process. 

Wednesday, June 17, 2015
Progressive Field
1:30 to 5:15 p.m. - Seminar - Heavy Hitters Meeting Room
5:30 p.m. - Dinner and Cleveland Indians Game (optional)
Registration is $85 (seminar only) or $125 (seminar, game and dinner)

Did you know the City of Green is fortunate to be home to Foreign Trade Zone #181, which includes approximately 300 acres of land adjacent to the Akron-Canton Airport? For more information about the FTZ in Green, contact the Planning Department at 330-896-6614. 
DFA welcomes Rachel Bridenstine

Development Finance Authority of Summit County is pleased to welcome Rachel Bridenstine as a Project Coordinator. Ms. Bridenstine will be responsible for New Markets Tax Credits compliance, and assisting with accounting and financial reporting. Ms. Bridenstine received her BA from Hiram College in 2009.

 

Ms. Bridenstine has several years of experience in office management, bookkeeping, development and marketing. She has been involved in working with non-profit organizations and other community outreach services.

 

Ms. Bridenstine also enjoys being a musician in her free time.
Please feel free to forward this email to a business contact who may be interested in Development Finance Authority's services. And, view our 2014 Annual Report.

Chris Burnham 2011
Best Regards
Chris Burnham, President
Development Finance Authority of Summit County