SOLON, Ohio--(BUSINESS WIRE)--Swagelok Company, a global developer and manufacturer of fluid system solutions, announced today that its Board of Directors has approved Solon as the location of its new $30 million - $50 million Global Headquarters and Innovation Center, following a three-month competitive site selection process.
The City of Solon and JobsOhio are both partnering with Swagelok to support the company’s growth and enable Swagelok to expand in Solon. Yesterday, Solon City Council approved its economic development package. Pending Ohio Tax Credit Authority and JobsOhio approvals, the new campus will be built at Swagelok’s present location at 29500 Solon Road in Solon, where the Company has been headquartered since 1965.
“We are thrilled with the decision to remain in Solon and continue our partnership with the city that has been instrumental in our company’s growth,” stated Arthur F. Anton, chairman and chief executive officer, Swagelok Company. “We offer deep thanks to City of Solon officials, especially Mayor Edward Kraus, and the JobsOhio team for their support and commitment to Swagelok. Their offers enable us to leverage our manufacturing infrastructure and existing investments in the area, while creating a world-class, technologically advanced facility that will support our position as an industry leader and inspire the innovation, productivity, problem solving and collaboration essential for the next phase of our company’s success story.”
The new campus is expected to encompass up to 120,000 square feet of new space and feature a state-of-the-art innovation center, customer welcome center, and business operations center to house 300 to 350 associates, with room for future job growth.
“The City of Solon is excited to welcome the new Swagelok Global Headquarters and Innovation Center to our community. Swagelok has been an essential part of Solon’s success, and we are grateful for their continued partnership and commitment. Without Swagelok, there would be no Solon,” said City of Solon Mayor Ed Kraus. “Swagelok’s international prestige, public spirit, and dedication to its employees and customers are well known and are a tremendous asset to any community. It is an honor to be associated with such a company and we look forward to helping Swagelok move this project forward quickly and beginning the next chapter of our partnership together.”
Responses to Swagelok’s Request for Proposal (RFP), released May 3, were due June 1. It was the company’s stated preference to remain in close proximity to several of its manufacturing facilities; while certain corporate functions will be restructured and relocated, all current manufacturing facilities will remain in operation.
“We appreciate all the municipalities, both within and outside of Ohio, that responded with competitive offers to our RFP,” added Anton. “We were honored by the level of responses.” Anton specifically acknowledged the efforts of the Greater Cleveland Partnership and Team NEO.
“Along with our local partners, we are delighted Swagelok chose Solon for its new headquarters and global innovation center,” said Glenn Richardson, JobsOhio managing director for advanced manufacturing. “Swagelok’s overall commitment to innovation and advanced manufacturing will bring an estimated 1,000 new jobs over the next several years to Northeast Ohio to service its growing worldwide customer base.”
“Along with JobsOhio, the Greater Cleveland Partnership and the City of Solon, we are excited to see Swagelok’s continued commitment to Solon,” said Bill Koehler, CEO of Team NEO. “This was a highly competitive project that required the close collaboration of local, regional and state entities. It is with that same spirit of cooperation that we look forward to continuing to support Swagelok’s growth in our region.”
Swagelok expects to break ground on its new campus in 2019, with completion targeted by the end of 2020.
Swagelok Company is an approximately $2-billion privately held developer of fluid system products, assemblies, and services for the oil and gas, chemical and petrochemical, semiconductor, transportation, and power industries. Headquartered in Solon, Ohio, U.S.A., Swagelok serves customers through 200 sales and service centers in 70 countries, supported by the expertise of 5,500 corporate associates at 20 manufacturing facilities and five global technology centers. To learn more, please visit www.swagelok.com.