If you’re thinking – what a great time to invest in Ravenna! – then you are in good company. There’s a lot of economic activity in and around our city. Check out these recent growth and success stories!
New Project Brings New Opportunity
Here’s a big project from Menard’s, the Wisconsin-based home improvement retail chain with more than 300 stores across the United State. Construction is currently planned to begin on the $52 million manufacturing and distribution center on Route 88 in Ravenna in 2024. This gives the facility easy highway access in all directions.
It is forecasted that the facility will employ 90 people with an estimated payroll of $3.49 million. The plan for the 65-acre site is to consist of a truss plant, concrete plant, bagging plant, transload operation and a cross dock distribution facility. This new distribution site will support the company’s expansion in Ohio, Pennsylvania and West Virginia. The company’s fixed asset investment would be toward building and land costs, and new machinery and equipment.
Adding More High-Tech Jobs
LG Chem will bring dozens of high-tech jobs to Ravenna in a major incentive deal.
LG Chem America plans to build two structures in the Chestnut Commerce Center on approximately 22-acres behind the old GE plant on North Chestnut Street. The city received tax incentives to build an ingress/egress road off of N. Chestnut Street to access the new buildings. Additional tax incentives were approved for the manufacturer in the form of a tax abatement and new job creation tax credits.
LG Chem America expects to create 72 full-time jobs, generating an estimated $4.7 million in new annual payroll. LG Chem is a division of LG focused on producing ABS (a highly functional heat- and impact-resistant compound used for a variety of applications from toys to household appliances and automotive parts
Newly Renovated Warehouse Serve New Purpose
The former GE Distribution Plant in Ravenna will soon become Boston Retail Products, bringing 45 jobs to the Ravenna site. The Boston Group – makers of displays for retail stores, hospitals and pharmacies – will consolidate its metal manufacturing facility located in Medford, Massachusetts and its plastics division located in Hubbard into a newly renovated 320,000 square feet of modernized warehouse and office space in Ravenna.
Proud of Local Business Expansion
Ravenna is home to one of just six approved (AITL) testing labs in the world. ACE Laboratories, a longstanding rubber, silicone and latex testing facility, has expanded into servicing the construction materials industry with new dedicated laboratory services. ACE now serves as one of just six approved Accredited Independent Testing Laboratories (AITL) for the Cool Roof Rating Council (CRRC) and is one of only three approved for rating products in the new Wall Rating Program. From polymer roofing materials and below grade coatings to asphalt and crack-sealing solutions, these new capabilities add to the foundation of ACE Labs’ broad service capabilities.
Recognition for Expansion & Growth
The City of Ravenna is proud to see businesses within our growing community create new products and jobs. One of the city’s longest standing businesses, Spectrum Dispersions, received the 2022 Growth Award through the Portage Development Board’s “Locate. Stay. Grow.” Program. Congratulations to Gregg and Tim Klemm for their commitment to expansion and growth in Ravenna.
Main Street Mile Recognized at Celebrate Portage!
Chelsea Gregor and the Main Street Mile project was recognized at the 9th Annual Celebrate Portage Awards dinner on September 23. Celebrate Portage! is a part of Visioning in Portage’s mission to educate and invigorate a vibrant and exciting Portage County. Nominated for the Community Improvement Award was Ravenna’s The Main Street Mile, an effort developed by Main Street Ravenna Vice President Chelsea Gregor to promote the county seat.
The Main Street Mile is a one-mile loop that runs the length of Main Street. Use the crosswalks to complete the loop from Clinton Street to Sycamore Street. It’s an easy and safe way to take in all the historic and unique details that make up this one-of-a-kind small town.