CLEVELAND, Ohio, August 3, 2020 –Prince & Izant Company, a global provider of brazing alloys and metal joining products to the automotive, cutting tools, oil and gas exploration, HVACR, and electrical manufacturing industries announced today it will expand its operations in Parma, Ohio. The company will add 30,000 square-feet of manufacturing space to their current facilities. The expansion will increase manufacturing capacity at the campus to meet the growing demand for the company’s products, as well as consolidate work from the company’s recently shuttered manufacturing facility in Indiana. The $2.4 million expansion will result in the creation of 21 new jobs and the retention of 104 existing positions.
“We are committed to Greater Cleveland and excited about our company’s future,” stated Matt Brandenburg, CEO of Prince & Izant. “This was a challenging decision as we vetted multiple locations across the country. We greatly appreciate the guidance and support of the Greater Cleveland Partnership (GCP) and its partners in helping us build the business case that enabled this expansion to move forward in Northeast Ohio.”
“The manufacturing industry will always be the cornerstone of Greater Cleveland’s economy,” stated Joe Roman, President and CEO of the Greater Cleveland Partnership. “GCP appreciates Prince & Izant’s investment in the city of Parma and its confidence in Greater Cleveland for its growing operations. We are committed to the company’s long-term success.”
Led by Shawn DaVis, Vice President for Business Growth & Development for the Greater Cleveland Partnership, the organization worked collaboratively with the city of Parma, Team NEO and JobsOhio to secure the Prince & Izant expansion in Northeast Ohio.
“I have made it a priority to partner with our business community and create an environment of economic cooperation. I appreciate Prince & Izant, the State of Ohio and the Greater Cleveland Partnership for their investment and commitment to the city of Parma. I also want to thank our Community Services Director Erik Tollerup for his role in making this happen,” said Parma Mayor Tim DeGeeter. “Our city slogan is Progress through Partnerships, and this is a prime example of how partnerships grow our local economy.”
“Prince & Izant’s expansion demonstrates once again that Northeast Ohio provides an attractive investment environment,” said Team NEO CEO Bill Koehler. “The company is thriving because of the region’s access to market, supply chain and talent. Along with JobsOhio and our local partners, we look forward to supporting the company’s continued success here.”
The final decision to move forward in Ohio is subject to state and local approvals.
About Greater Cleveland Partnership
With more than 12,000 members, the Greater Cleveland Partnership (GCP) is one of the largest metropolitan chambers of commerce in the nation. GCP is focused on driving the economic vitality of our region through building a strong and thriving climate for the broad business community, including small businesses, middle-market companies and large corporations.
About Team NEO
Team NEO is a private, nonprofit economic development organization accelerating business growth and job creation throughout the 18 counties of Northeast Ohio. As the designated JobsOhio Network Partner, we align and amplify local economic development efforts in Northeast Ohio’s 18-county region; we conduct research and data analysis to inform local conversations and influence solutions; we market Northeast Ohio as a region; and we work to increase access to jobs, education and training for the region’s 4.3 million people. For more information, visit teamneo.org.
About JobsOhio JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio though Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.