Myers Industries Inc. won't move to Cleveland after all.
The rotational molder and blow molder, which sought a $400,000 loan from Cuyahoga County in Ohio for a move that eventually would have brought 140 jobs to Cleveland, said in a news release Monday, Oct. 1, that the move is off.
"After extensive review and evaluation, we have decided to suspend our corporate headquarters and Myers Tire Supply (MTS) office relocation from Akron [Ohio] to Cleveland," the release stated. "When we first discussed the relocation several months ago, we felt it was a prudent business decision that supported our long-term strategy. Since then, we've determined that the costs associated with the move would be higher than anticipated and impacted our ability to create the open and collaborative space we envisioned. In addition, we want to focus our efforts on the business at hand and on implementing our strategy."
At a Sept. 12 meeting, Kevin Gehrt, Myers vice president of human resources, told the members of the Cuyahoga County Community Improvement Corp. (CCCIC) that the company was seeking the loan for the new space after a search in Akron failed to find the right kind of space.
"We tried really hard to stay in Akron," he said. "We just weren't able to find the right property with the right owner, or the metrics and financials to make it work."
After the plans for the move became public, however, the company felt the backlash from the community that had been its home for all of its 85 years in business. That led to the decision to reconsider.
The company is in negotiations to sell its current headquarters in Akron and lease back the space from the new owner. Construction continues on a new MTS distribution center and construction is on track for completion by Nov. 15.
Myers Industries' Scepter business group is a blow molder with an estimated $53 million in annual sales, based in Scarborough, Ontario. It was No. 33 in the most recent Plastics News ranking.
Myers' rotomolding unit, Ameri-Kart Corp. of Bristol, Ind., has an estimated $55 million in annual sales, placing it at No. 8 in the most recent PN ranking.