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Cuyahoga Falls, Hudson, and Stow Announce Joint Economic Development Zone

FOR IMMEDIATE RELEASE



April 24, 2008

Contacts: Mayor Don L. Robart

City of Cuyahoga Falls

330/971-8200



Mayor William A. Currin

City of Hudson

330/554-3529



Mayor Karen Fritschel

City of Stow

330/689-2800





Cuyahoga Falls, Hudson, and Stow Announce Joint Economic Development Zone



For the last several months, officials from the Cities of Cuyahoga Falls, Hudson and Stow have been meeting in a cooperative effort to create a Joint Economic Development Zone (JEDZ) that would be located in all three communities.



The initial purpose of the new zone will be to lure a new regional hospital to the State Route 8 corridor.



This state-of-the-art hospital will serve as the anchor of the JEDZ and will be constructed near the new Seasons Road Interchange of Route 8. This collaborate effort will allow the three cities to share in the public costs and benefits resulting from a new hospital project.



In their Memorandum of Understanding, the Mayors agree to pursue a joint application to the State of Ohio Job Ready Site Fund for approximately $5,000,000, which will be utilized exclusively for this project. Additionally, the Mayors are committing to contribute $1,700,000 each toward the construction of the future interchange necessary to drive economic development in this region.



Further, the mayors agree to have the City of Stow provide the water utility, Cuyahoga Falls will be the sole supplier of electric service, and Summit County will supply the sanitary sewer to this new hospital.



Stow Mayor Karen Fritschel stated, "I am pleased that the City of Stow will be a partner in establishing a new regional hospital in the State Route 8 corridor near the Seasons Road interchange." " I am also excited about the opportunity to collaborate with the Cities of Hudson and Cuyahoga Falls on this groundbreaking economic development project".



The major idea is for each municipality to provide multiple acreage for this new JEDZ that will provide land for a new regional hospital, and also acreage for a future smart office complex that will contain medically-related uses.



"We are excited about this collaboration among the three neighboring communities to share in the costs incurred and the revenues to be generated from the construction of a new community hospital that will serve all of Northeast Ohio," stated Hudson Mayor William A. Currin. He went on to say, "This is an example of our three communities collaborating together in order to stimulate smart economic growth while providing a much needed asset and medical facility to Northern Summit County."



The benefits for the residents of our region are endless. A new state-of-the-art hospital in our region provides our residents with another first class health care option at a very convenient and accessible location.



Mayor Don Robart stated "We have worked closely with Summa through our successful partnerships at our Natatorium and our Fit Kid Experience." "We are delighted to continue this momentum by presenting both Summa and the Western Reserve Physicians Group with an opportunity to create yet another collaborative venture." "Moreover, I am proud to work closely with the Cities of Stow and Hudson in our joint efforts to produce a dynamic incentive package for their consideration."



All three mayors agree that this cooperative approach to the economic development aspect of this hospital project undertaken by all parties involved will produce benefits far beyond what occurs when one community assumes all the costs associated with such a coveted development project as a new $100 million facility. This is truly a regional approach to a great new venture that will serve all of Summit County and beyond.





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Last changed 07/20/2011 - 9:46am by petron@cityofcf