AVON LAKE — City Council may approve a tax incentive agreement for the expansion for PolyOne Corp. at a March 11 meeting.
The 15-year property tax abatement would give the company a 100 percent property tax abatement to build an 80,000- to 100,000-square-foot expansion on its main campus on 33587 Walker Road.
According to the ordinance introduced Monday, terms of the agreement will require 68 employees at the main campus into the new expansion and add 28 new employee positions to the new facility over five years. PolyOne, an Avon Lake-based producer of industrial polymers, has an annual payroll of $35 million.
The project is an investment of a little less than $25 million. PolyOne has not yet decided on Avon Lake or other potential locations, but is expected to announce a decision within the year.
Avon Lake Development Director Ted Esborn said the expansion also would benefit Avon lake Schools as a place to send students to promote education in STEM, or science, technology mathematics and technology. Esborn said he hopes Avon Lake is chosen for the expansion and had felt the process has been positive on every side.
“Whether it’s the City Council (or) schools, everyone seems to recognize the value,” he said.
If approved, construction for the facility would begin by spring of 2019.