County Council Briefing Memo

The Executive recommends $14 million of financial incentives to the Sherwin-

Williams Corporation, to retain its corporate headquarters and research and
development facilities within Cuyahoga County. As the company announced on
February 6, 2020, this decision retains over 3500 headquarters and research jobs
in Cuyahoga County, with at least 400 new jobs expected to be added over the
next several years.

Sherwin-Williams announced its search for a new headquarters and research and
development site in September 2019. Since that time, Cuyahoga County
development staff have worked closely with JobsOhio, Team Northeast Ohio, the
Greater Cleveland Partnership, and municipal economic development staff to
understand and meet the company’s needs for assistance with this project.

Cuyahoga County will provide financial support to the company totaling $14
million for construction of its new headquarters and research facility. The
proposed funding sources for the Incentive Grant are $5,000,000.00 from the
Cuyahoga County Economic Development Fund, $2,000,000.00 from the
Community Development Fund, and $7,000,000.00 from the General Fund
reserves. A written Development Agreement between Cuyahoga County and the
company sets out in more detail the eligible costs County funding will pay for or
reimburse. The County’s incentive package complements other state and local
incentives that together have obtained the company’s affirmative decision to
remain in Cuyahoga County.

The company has agreed to a “clawback” provision in the construction grant that
will give it a financial incentive to maintain jobs while its new facilities are built
and for at least five additional years. The Construction Grant Agreement commits
the company to paying state prevailing wage rates to all construction laborers.