Cleveland Real Estate News

Peter Krouse’s PD post discusses plans for China’s Gamma Star Medical Systems, Inc. to open a North American location in Beachwood. Reference is made to about 35 jobs being created over the first three years.  This has been in the works for a while and it sounds like more of a done deal than not….we’ll see. Gamma Star makes medical devices and picked our area, according to Krouse, because:

“….A source familiar with GammaStar’s plans said the company chose the Cleveland area for two primary reasons: its expertise in medical imaging and radiosurgery, and the availability of venture capital for future infusions….”

The last piece of the puzzle that has to fall into place is how much tax credit they will get. Apparently there is an Ohio Tax Credit Authority meeting coming up to decide this issue. Once again (like the German solar energy company IBC Solar locating here), an international company has said ‘no’ to the West Coast and ‘yes’ to us! Sounds good to me!

Now, if there will be 35 jobs….hmmm. I have a client with just over 20 jobs trying to buy a place to settle in and grow the company while providing a good work environment for their employees. We’ve not heard anything about tax credits, and I guess they must only offer those to companies not already in the area. But I think they should change their tune and try to keep long term companies, like my client, here as well.  But no one asked me!

Also, the tax abatement issue and Cleveland’s continued expansion into the movie industry is still unresolved yes? That would also be a great boon for Ohio, especially our area. The Greater Cleveland Film Commission and it’s Executive Director, Ivan Schwarz are trying hard to get the tax incentive issue passed in Ohio since there is real interest by big hollywood types to have movies made here. I say call your legislators! Or better yet, call the Film Commission to see how they think you can help move things along. My cousin Jeff is a budding producer and this is a project near and dear to his heart.

You know how they say things like ‘gray is the new black?’  Well maybe Cleveland is gonna be the new LA, based on German, Chinese and movie honcho interest in our area.  It could almost make me giddy!  Peace Out – 3C