There’s little doubt 2001 was a rough year for the Northeast Ohio job market. But not all the news was as bad as LTV’s.
Nearly 120 firms committed to projects totaling more than $73 million in new location or expansion projects. Those are expected to result in the creation of more than 2,200 jobs and the retention of 6,100 jobs, according to the Ohio Department of Development.
Among the companies that have made commitments:
Progressive Insurance. A $13 million expansion project in Parma for its transportation recovery division will create 300 jobs.
Sherwin-Williams. The paint maker’s automotive division in Warrensville Heights has committed to a $15 million paint research and development center that will create 164 jobs.
Formtek. The company purchased the assets of the former SNS Properties and has committed $14 million to its Bedford Heights location. It manufactures equipment for handling, feeding and forming metal for stamping operations. The project will create 40 jobs and retain 125 at an average salary of $42,000.
Quark Biotech. An emerging cancer research company in Cleveland, Quark has committed $2.3 million for a start-up project that will create 40 high-paying jobs.
NeoMed Technologies. A start-up firm researching cardiac function, NeoMed has committed $6 million to a project that will create 50 high-paying jobs.