DeGeeter Announces Economic Summit Meeting

New Parma Mayor Tim DeGeeter has announced the date and time of an economic summit meeting that he feels is important to the development of a healthier business climate in the city. During his transition to the Mayor’s office, DeGeeter said that having the meeting within the first 60 days of his administration was a top priority.

The town hall-type meeting will take place on Wednesday, Feb. 22, 2012 at OSG-Sterling Die, Inc. located at 12502 Plaza Drive. It is scheduled to begin at 5 p.m. and go for approximately 90 minutes.

The aggressive time frame underscores the new administration’s belief in the importance of this event. Economic development, jobs and the growth of Parma’s business community are priorities on DeGeeter’s agenda.

“During my transition to the Mayor’s office, I spoke to members of the business community to learn about important issues and concerns,” DeGeeter said. “To that end, I will be pleased to continue meaningful conversation and dialogue with Parma’s business community at this event.”

Among other things, the forum will help business owners better understand the opportunities available from the Cuyahoga County Economic Development fund - a $100-million fund aimed at providing low-interest loans to small businesses. Representatives from the Cuyahoga County Economic Development Department and from the Small Business Administration will be on hand at the meeting.

The State’s cut in local government support, coupled with the elimination of the estate tax, highlights the need for vigilance in controlling costs. Even with his tendency toward fiscal responsibility, DeGeeter understands that cuts in the state’s budget will make things more challenging. “We know there will be no Columbus bailout,” he said. “We have to make every effort to be responsible and plan for the future, knowing this is coming.”

Small businesses are important economic drivers. Creating and maintaining a stronger business community, and thereby generating more tax income, is imperative to the health of any community. Parma has an array of diverse neighborhoods that offer storefronts reflective of the area’s personality, and DeGeeter wants to take advantage of this.

“We want these businesses to be as successful as they can be,” he said. “Where there are vacant storefronts, we want to have them filled as soon as possible, not just for the sake of filling them, but for the service to the residents in that neighborhood, for the success of the small business owner and the overall betterment of the city’s business community.”

Parma’s Director of Community Service and Economic Development, Erik Tollerup, said he can see promising developments in Parma’s business growth.

“Parma is one of the few communities in Cuyahoga County that has moved away from property tax abatement and towards payroll tax sharing,” he said. “This public/private investment partnership has proven to be a much more successful and conservative use of public tax dollars. In each instance when Parma has invested a portion of payroll taxes paid to the city back into the business, we’ve seen job and income tax expansion. With our three oldest agreements now approaching nine years in length, Melin Tool and Marlin Manufacturing have nearly tripled payroll with OSG/Sterling Die growing by 32 percent.”

If you are the owner of a small or medium-sized Parma business and would like to attend this or future economic development events, please call Tollerup at 216-661-7412 or Economic Development Officer Shelley Cullins at 440-885-8860 to express your interest.

OSG-Sterling Die has been in business for over 55 years and manufacturers fasteners. DeGeeter expressed his gratitude to the owners for their willingness to host this event.