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State agencies, company board have separate meetings scheduled to consider headquarters plan
By Rick Armon,
Stephanie Warsmith, Phil Trexler
and Jim Mackinnon
Beacon Journal staff writers
Published on Friday, Nov 30, 2007
Goodyear Tire & Rubber Co. appears poised to accept a deal to build a new worldwide headquarters in Akron, ending any fear the company might move out of the city and Ohio.
The company, which employs about 3,000 workers locally, wants a new flagship headquarters to replace its current 80-year-old site off East Market Street. Executives confirmed earlier this year they have been wooed by communities in other states since Goodyear's desire was made public.
In Ohio, local and state leaders have been working behind the scenes for months with Goodyear to keep the company in Akron. Goodyear, meanwhile, said it would focus its efforts on the Akron development proposal through the end of the year.
The state Development Financing Advisory Council and Ohio Tax Credit Authority are scheduled to meet in Columbus on Monday to consider a financial package for the company. The Goodyear board of directors also is slated to meet early next week to discuss the offer.
The Goodyear board meeting is a regularly scheduled one and the company does not divulge what is on the agenda, company spokesman Scott Baughman said.
Company executives had little to say about the Akron headquarters proposal beyond being happy with the spirit of cooperation among the various parties, he
said.
''We are pleased with the progress that has been made with all of the groups involved,'' Baughman said.
A spokeswoman for the Ohio Department of Development said details of the financial deal are expected to be released today.
''At this point everything is looking good. I can't say everything is done,'' said California-based real estate developer Stuart Lichter, a main catalyst for the project.
''We're hoping to bring this thing to a conclusion shortly,'' said Lichter, whose Industrial Realty Group has other significant Northeast Ohio properties. ''Most of the pieces that we need have been put together. . . . Everything is going really well. It's really complex. There's a lot of momentum to the deal.''
Multiple parties involved
State and local leaders involved with the talks declined to release specifics Thursday, but several expressed optimism that Goodyear is staying put.
People familiar with the proposal said if all of the pieces do come together as expected, a formal announcement could take place by midweek.
Goodyear has been in Akron since it was founded in 1898. The city earned the nicknames ''Rubber Capital of the World'' and ''Rubber City'' thanks to decades of tire operations involving Goodyear, B.F. Goodrich, Firestone and General Tire.
''I know we've been working on it hard and it's all coming together and (an announcement) shouldn't be much longer. Everything is working out,'' Akron City Council President Marco Sommerville said. ''Things are very optimistic for the city of Akron and Goodyear continuing to stay here with their world headquarters in Akron, Ohio. That's safe to say.''
Mark Williamson, Akron Mayor Don Plusquellic's press secretary, said in an e-mail that ''we are still working on it . . . nothing has changed.''
Gov. Ted Strickland and Lt. Gov. Lee Fisher are involved in ''active, ongoing discussions'' but no decisions have been made yet, a Strickland spokesman said.
''The governor spends every ounce of energy he has to keep and grow companies like Goodyear,'' spokesman Keith Dailey said. ''The state wants to do everything it can to keep companies and jobs in Ohio.''
State Sen. Tom Sawyer, D-Akron, said the deal has been worked on by a group of public and private officials at different levels of government.
''It has been done with care, attention to details, and a recognition of the stakes,'' he said.
Those stakes include the massive economic impact provided by Goodyear. The company has a $350 million annual payroll in the city, and there are thousands of Goodyear retirees living in Northeast Ohio.
If the company decides to move out of Akron, it would be a major psychological blow to the community, which has already seen the departure of other tire manufacturers and their headquarters. In the 1980s, Firestone was acquired by Bridgestone Corp. of Japan, B.F. Goodrich and Uniroyal merged and were later acquired by Michelin of France, and General Tire was acquired by Continental AG of Germany.
''Having been known growing up as the Rubber Capital of the World, this would have stripped the last vestige of that history from our community,'' Summit County Executive Russ Pry said.
Site redevelopment
Under terms previously outlined publicly, Lichter's company would take over the existing Goodyear buildings for industrial and office redevelopment. Lichter's previous dealings with area industrial properties have included the former B.F. Goodrich complex downtown, known as Canal Place, and other sites around Akron Fulton International Airport. He also is taking over the North Canton industrial site formerly used by Hoover Co. for vacuum cleaner manufacturing.
Lichter also would oversee the construction of the new Goodyear complex to be located adjacent to the company's Technical Center on Martha Avenue near Interstate 76.
In April, Plusquellic said the redeveloped Goodyear campus could create as many as 2,000 new jobs with a payroll of $80 million.
Plusquellic would not comment beyond his spokesman's brief e-mailed response.
Law Director Max Rothal declined comment on the financial package being presented in Columbus next week.
Robert Bowman, deputy mayor of economic development, could not be reached for comment.
The Goodyear project is moving along with the help of a massive land purchase by the city in adjacent areas, including lots with private homes.
Akron has already reached sales agreements with 18 of the 21 property owners in the ''Poets Streets'' area of East Akron, off South Seiberling Street and just south of Interstate 76.
The 600-acre area is where developers have talked of placing the new Goodyear headquarters alongside a potential retail complex. Lichter has described the idea for the project as creating a new Akron neighborhood, including hotels.
The city's cost is expected to be around $2 million for the purchase of the properties, relocation costs to residents and other expenses related to the deals.
Rick Armon can be reached at 330-996-3569 or rarmon@thebeaconjournal.com. Stephanie Warsmith can be reached at 330-996-3705 or swarsmith@thebeaconjournal.com. Phil Trexler can be reached at 330-996-3717 or ptrexler@thebeaconjournal.com. Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
Goodyear Tire & Rubber Co. appears poised to accept a deal to build a new worldwide headquarters in Akron, ending any fear the company might move out of the city and Ohio.
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