- Economic & Community Development
Economic & Community Development
The City's Department of Economic and Community Development is committed to cultivating and enhancing our business-friendly environment as we strive to help our community grow. With the unique benefit of being home to the Cuyahoga County Airport, having more than 32 acres of buildable greenfield land across from the airport, being home to the Curtiss Wright Business Park with modern office and industrial space available, being just minutes away from I-271 and I-90 and a short distance from University Circle and downtown Cleveland, we are one of greater Cleveland's most desirable business locations.
The cost of doing business in Richmond Heights is comparatively low and we do offer certain beneficial incentives to businesses expanding or locating here, including our Enterprise Zone, Opportunity Zone, and our Community Reinvestment Area.
Send Brian Gleisser an email or call 216-486-2474, ext. 229.
The City's Enterprise Zone provides qualifying businesses with real and personal property tax abatement opportunities for manufacturing, warehousing, research, and development. Businesses that are in the Enterprise Zone and choose to take advantage of this program must agree to retain or create employment and establish, expand, renovate, or occupy a facility. Richmond Heights has locations available for development and/or expansion in the Enterprise Zone.
The City’s Opportunity Zone provides investors with unrealized capital gains the mechanism to sell their appreciated assets and invest the proceeds into eligible business property in the designated Opportunity Zone census tract. Capital gains taxes on the invested funds are deferred. The deferred tax is partially forgiven when investments are held 5-7 years and when investments are held 10 years the capital tax on all earnings is excluded.
Community Reinvestment Area
The City's Community Reinvestment Area provides qualifying businesses and homeowners with real property tax abatement for residential, commercial, and industrial projects that take place within a Community Reinvestment zone.
The Eastside Greenway Project
A partnership of local and regional organizations and planners, including LAND studio, is working to connect 19 Greater Cleveland communities with the Eastside Greenway. With planning currently underway, the project team will be hosting the second round of public meetings to share project updates and solicit feedback from the community. We invite you to share your thoughts on the project at a meeting or by taking a survey.
About the Eastside Greenway
Read more about the Eastside Greenway in the article by Steve Litt or on the website.