CLEVELAND - An expansion to Steelyard Commons will bring new jobs to Cleveland, county leaders say.
The second phase of the expansion project for the retail center located along the Cuyahoga River just of downtown Cleveland will add about 197,000 square feet and expected to create more than 300 new jobs and bring in $20 million from sales.
Approval of the issuance of $5 million in taxable economic development bonds by Cuyahoga County Executive Ed FitzGerald and Cuyahoga County Council last week will make the plan a reality.
“The second phase of the Steelyard Commons is the latest example of how developers and the county are working together to make smart use of resources,” FitzGerald said in a news release.
The bonds will be repaid by money generated through the expansion.
Construction is anticipated to begin this month.
Since its opening in 2007, Steelyard has been the site of more than 1,100 new jobs – 82 percent filled by Cleveland residents, according to the county.
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