Global paint giant Sherwin-Williams said it is committed to making an economic impact in Cleveland at a ribbon cutting ceremony for its new downtown headquarters Monday.
The Sherwin-Williams Company showed off its 36-story, $750 million building in the city’s Public Square district with several public officials thanking the company for staying within city limits. The company considered out-of-state options when it decided it needed an upgrade from its old Downtown Cleveland headquarters in 2019.
“The thought of Sherwin-Williams not being in Cleveland was just simply an unacceptable thought,” Ohio Gov. Mike DeWine said. “Your company's investment, not just in this building but also the research center, tells us you believe in Cleveland and we thank you.”
The company opened its 600,000-square-foot, 900-employee research and development center, Morikis Global Technology Center, in Brecksville last year.
“It is the right place for our people. It is the right place for our business and it is a right place to continue growing alongside this very important and growing community,” said Heidi Petz, chair, president and CEO of Sherwin-Williams.
Sherwin-Williams employees started utilizing the space toward the end of last year as the company announced a return to office mandate for hybrid employees beginning Jan. 1. A company spokesperson said most employees work in the office most days of the week.
DeWine said having workers in the building is a big economic boost for Downtown Cleveland.
“When you have that much traffic coming into this city, that helps. That's what it's all about. You know, people are eating downtown, they're doing things downtown. It's very, very important,” DeWine said.
The city of Cleveland provided Sherwin-Williams about $100 million in public incentives for the project.
“Not only is Ohio in the business of attracting companies, but we in Ohio must be in the business of retaining companies as well,” Cleveland Mayor Justin Bibb said. “I'm just so proud that that company is, and will always be, headquartered in the great city of Cleveland, Ohio.”
About 3,100 employees work in the new building, which is now the fourth-tallest building in Cleveland and the sixth-tallest building in Ohio. The office space is currently only being used by Sherwin-Williams.
