Sherwin-Williams is finalising plans to build a new global headquarters, following an extensive competitive site selection process, in downtown Cleveland, Ohio, and a new R&D centre in the Cleveland suburb of Brecksville.
The company says its plans require the completion of some standard due diligence, approval of incentives and other matters at the state, county and city levels. It will also resolve all business and legal matters tied to the investment project.
“Our plans to continue investing in Cleveland and Northeast Ohio build on our 154-year legacy as one of the region’s top employers and drivers of economic activity,” said John G. Morikis, Chairman and CEO of Sherwin-Williams. “Driven by our continued need to serve our customers at the highest level and retain and attract top talent, we intend to create a next-generation workplace environment that ignites creativity, collaboration and industry-leading innovation.
“We currently operate out of a 90-year-old headquarters building that has served us well but is no longer conducive to meeting our future needs. The major planned investment in Cleveland and Northeast Ohio reflects our confidence in the continued strength of the region and its people and our public partners’ ability to deliver on their commitments.”
The preliminary plans require Sherwin-Williams to invest a minimum of US$600 million to build both facilities. The new headquarters will be approximately one million square-feet (92,900 square metres) while the R&D centre, which will serve as the corporate anchor for a new mixed-use development project, will be about 500,000 square feet (46,450 square metres).
The two facilities will house over 3500 employees combined, with room to accommodate significant future growth. Sherwin-Williams estimates that a minimum of 400 jobs will be added at these facilities over time and that many of the jobs will include professional staff, engineers and chemists.
The transition to the new facilities isn’t expected until 2023 at the earliest.