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$300,000 Economic Development Incentive Supports New Advanced Manufacturing Facility

8/29/2019  


Press Release

August 29, 2019

Contact: Miranda Pomiecko: (216) 698-2546; mpomiecko@cuyahogacounty.us


CUYAHOGA COUNTY, OH – A $300,000 Economic Development grant to Consolidated Precision Products Corp. (CPP) was approved on Monday by the Cuyahoga County Board of Control to assist with the construction of CPP’s new advanced manufacturing facility in Euclid, Ohio. The new plant will result in a 140,000 square foot facility and the creation of 128 new manufacturing and engineering jobs in the City and Cuyahoga County. CPP worked closely with the County, Greater Cleveland Partnership, JobsOhio, Team NEO, the City of Euclid, and other partners to secure the business expansion project in Euclid.

“The County is thrilled that Consolidated Precision Products has decided to expand its presence in Cuyahoga County," said County Executive Armond Budish. “I have recommended this $300,000 grant because I believe that this expansion is extremely important for our region. The advanced manufacturing and engineering jobs that this expansion brings are exactly the type of jobs we want to attract to Cuyahoga County. This is a real boost to Euclid and to the surrounding region.”

“Consolidated Precision Products Corp. is looking forward to expanding our business into Euclid and to continue growing our Ohio presence,” said James Stewart, Chief Executive Officer of CPP. “We are extremely grateful to Cuyahoga County for its critical assistance in this effort,” he added.

Consolidated Precision Products Corp., headquartered in Cleveland, Ohio, is a leading manufacturer of highly-engineered castings and sub-assemblies primarily for the commercial aerospace and defense markets. Founded in 1991, CPP is one of the world's largest investment and precision sand casting companies, producing complex super alloy, titanium, aluminum, magnesium and steel castings for a variety of leading commercial and military aircraft and systems, commercial and regional/business jets, helicopters and industrial gas turbines.

The total project is estimated at $59 million. The project will be located within the Bluestone Business Park which is located at the East 260th Street exit of I-90/Route 2. It is being constructed by Ray Fogg Corporate Properties LLC, the Park’s master developer.