{"id":1004717117,"date":"2024-06-13T02:26:53","date_gmt":"2024-06-13T10:26:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004717117"},"modified":"2024-06-13T02:26:54","modified_gmt":"2024-06-13T10:26:54","slug":"geis-cos-completes-lg-campus-in-ohio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/geis-cos-completes-lg-campus-in-ohio\/","title":{"rendered":"Geis Cos. Completes LG Campus in Ohio"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"The
LG Chem Ohio features a Customer Solutions Building and a 148,000-square-foot manufacturing facility. Image courtesy of Geis Cos.<\/em><\/figcaption><\/figure><\/div>\n\n\n

Geis Cos. has completed LG Chem Ohio, a two-building, 248,000-square-foot campus in Ravenna, Ohio. The LG America subsidiary selected Geis to develop the project in February 2022 and construction started a few months later, in May.<\/p>\n\n\n\n

LG Chem acquired the almost 24-acre site for roughly $1.5 million, public records show. At the time, the estimated investment was $64 million, with another $42 million allocated for the purchase of machinery, equipment, furniture and fixtures.<\/p>\n\n\n\n

The campus consists of a three-story, 100,000-square-foot office building and a single-story, 148,000-square-foot industrial facility that will produce a type of flexible plastic utilized in numerous industrial sectors, notably in the automotive industry.<\/p>\n\n\n\n

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READ ALSO:<\/strong> Boost in US Manufacturing Spurs Construction Boom<\/a><\/p>\n\n\n\n

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Before breaking ground on the property, LG Chem secured a tax break from the Ohio Tax Credity Authority, which is expected to generate $4.7 million in new annual payroll. The Ravenna Board of Education also approved a 15-year, 100 percent tax abatement.<\/p>\n\n\n\n

LG also has another Ohio project in the works, in partnership with Honda Motor CO. Ltd. The duo is constructing a $3.5 billion battery plant<\/a> that is anticipated to come online by the end of the year.<\/p>\n\n\n\n

LG Chem Ohio, up close<\/h2>\n\n\n\n

The property’s industrial component features a mezzanine and external storage silos and tanks. The facility also encompasses a fitness room, an employee cafeteria and various laboratories dedicated to testing, inspecting and weighing ABS compounds.<\/p>\n\n\n\n

The other building features a two-story reception area, a lounge, a gallery and three private reception rooms with a 6,500-square-foot skylight-lit atrium.<\/p>\n\n\n\n

The campus is at 310 Rayann Parkway, near the former GE plant within Chestnut Commerce Center, some 23 miles from downtown Akron, Ohio. Portage County Regional Airport is some 3 miles north.<\/p>\n","protected":false},"excerpt":{"rendered":"

The developer broke ground on the project two years ago.<\/p>\n","protected":false},"author":3355,"featured_media":1004717120,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,13,21752,21742],"tags":[50551,48698],"class_list":["post-1004717117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-midwest","category-mixed-use","category-latest","tag-geis-companies","tag-lg-group"],"acf":[],"yoast_head":"\nGeis Cos. 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