The company's second $1.25 million legacy grant from the State of Ohio will go toward the costs of construction, parking and infrastructure.
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View full sizeAmerican Greetings will receive up to $93.5 million in tax credits, loans, grants and other incentives toward the cost of building its new world headquarters in Westlake. This file photo was taken outside of its current headquarters in Brooklyn.
BROOKLYN, Ohio -- Greeting card maker American Greetings Corp. will soon get the second half of its $2.5 million grant from the State Controlling Board toward the cost of its Westlake headquarters.Clik here to view.
View full sizeAmerican Greetings will receive up to $93.5 million in tax credits, loans, grants and other incentives toward the cost of building its new world headquarters in Westlake. This file photo was taken outside of its current headquarters in Brooklyn.State Sen. Tom Patton, a Republican from Strongsville, said the company's second $1.25 million Legacy Grant will go toward construction of its headquarters and parking and infrastructure costs.
Patton's office said American Greetings' headquarters project will cost about $50 million, but
Chief Executive Zev Weiss told analysts last December that the total cost would be between $150 million and $200 million.
American Greetings will receive up to $93.5 million in tax credits, low-interest loans, grants and other incentives over 15 years toward the cost of its new headquarters. The $2.5 million from the state is part of that package.
The 700,000-square-foot headquarters, scheduled to open in 2014, is being built on the south end of the Crocker Park shopping and residential complex in Westlake.
It will replace the company's current 1.7 million-square-foot building in Brooklyn.
