Mayor: Ferry Cap Leaving Lakewood Would be a ‘Big Blow’ to the City
The 100-year-old company, which manufactures specialized fasteners, once employed nearly 400 people. It’s now eyeing a move to Elyria, which could cost the city as much as $70,000 in lost income taxes.
Ferry Cap & Set Screw Co. may move all of its 120 employees from the Templar Industrial Park near Birdtown to its sister company’s facility in Elyria. It’s an idea that Mayor Michael Summers said that would be a “big blow” to the city. A lawsuit against union employees refusing to work overtime revealed the potential move. Lakewood Company Sues Union Members, Eyes Move to Elyria “Could we provide economic support to a business to entice them to stay? There’s no forthcoming conversation coming from them,” said Summers. “That’s assuming we have the money, by the way. Which we don’t have.” Summers said that the landlord has made dramatic concessions in an attempt to keep them. “It doesn’t seem that the cost of being there was the objection,” …
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DLSJR
11:44 pm on Thursday, February 14, 2013
“Sometimes when you have an equity owner, it’s just a portfolio. It’s not Lakewood, Ohio. It’s all numbers on a piece of paper." “Sometimes, what looks good on paper doesn’t quite work out.” This is that best part said by the mayor, and looks a lot like what I have seen lately with our own city and ideas. Is this Dru guy the one in charge of the Clifton sidewalk planning last year? If so that guy… more ›