Independence Continues Economic Development Success
Independence City Council approved a Relocation and Job Creation Grant for Wholesale Supplies Plus (WSP) at its December meeting. WSP and its affiliated companies currently employ 60 full-time staff with a payroll of $2,500,000 at locations in Brecksville and Broadview Heights. The company manufactures, distributes and sells soap and cosmetics supplies.
WSP is planning to consolidate its operations in the former Stylin Concepts building at 7820 East Pleasant Valley Road. Through a partnership with a property management company, this property is slated to receive over $1,000,000 in upgrades including the installation of a new sprinkler system, an updated office and showroom space, and façade improvements. The company plans to hire additional employees in 2015 and forecasts a $4,000,000 payroll by 2018.
In support of their relocation, the City offered WSP a Relocation and Job Creation Grant with an estimated value of $237,000. The majority of the Grant is based on a percentage of the company’s taxable payroll for the first five consecutive years of its occupation of the East Pleasant Valley Road property. WSP has committed to operating within the City of Independence for at least 10 years.
The Relocation and Job Creation Grant with WSP is the eighth economic development incentive Independence has approved over the past two years. Through the implementation of an economic development policy tailored to meet individual business needs, Independence successfully retained or attracted companies occupying nearly 145,000 square feet of office space and 98,000 square feet of light industrial space. These business commitments will result in the City netting over $8,000,000 of income tax during the terms of the agreements.