Business

DOWNTOWN AKRON — Economic development planners for the city of Akron and Summit County have combined forces to obtain a new tool to promote growth of new jobs in the city and county.

Effective immediately, Summit County is among a small number of jurisdictions in the United States to receive a designation by the U.S. Department of Homeland Security to become a regional center that will provide incentives to international investors, according to city officials.

The designation will be marketed internationally as CMB Summit LLC Regional Center, under the so-called “Immigrant Investor Pilot Program,” with the expectation that it will attract investment for Akron’s Goodyear project.

“This is an opportunity for us to raise funds to build Goodyear’s new campus,” said Summit County Executive Russ Pry. “Not only does the project retain jobs at Goodyear, but this new investment will create jobs for residents throughout Summit County.”

Each year, the federal government offers 3,000 EB-5 visas to foreign residents who invest at least $500,000 in American business. Under U.S. immigration policy, an approved international resident whose investment would create 10 full-time jobs in the United States can get a conditional visa to come to this country and ultimately secure permanent residency.

Akron and Summit County’s partner in the designation is “CMB Export,” a federally licensed regional center with offices in Moline, Ill.

Under the federally regulated program, a foreign investor must have the cash on hand and has to be approved by the U.S. Citizenship and Immigration Services before a conditional visa could be issued. Additionally, the Department of Homeland Security may investigate the source of the investor’s money. Eventually, the investor has to prove to the government that the chosen investment did, in fact, create 10 jobs, directly or indirectly. After two years, if the jobs have been created, the investor could apply for a permanent visa.

For more information, visit www.uscis.gov. 

Greystone Hall under new management

DOWNTOWN AKRON — The city of Akron ended its partnership last week with the former owner and operator of Greystone Hall.

Beginning July 2, the Akron Summit Convention & Visitors Bureau, which manages the John S. Knight Center, will operate the popular site for wedding receptions and community events.

The former Masonic Temple was purchased from the Masonic organization in 1999 by investor Jeffrey O’Neil for $1.075 million. He developed it as a mixed-use/special event venue.

“For several years, the Convention Bureau has identified uses for the building that will be very compatible with its operation of the Knight Center,” said Mayor Don Plusquellic, “and they will provide professional management of the Greystone space for use by the community.”

O’Neil invested more than $5 million in the building to modernize and renovate it. In 2001, the city repurchased the property for $2.6 million, and O’Neil’s company leased the property from the city thereafter.

In recent years, the wedding business was managed by Greystone Caterers, which closed in 2008, and the building has had minimal use since that time, according to city officials.

In addition to the second-floor ballroom and lounge, the third floor contains a dining room, lounge and balcony for parties. The fourth and fifth floors contain offices and meeting spaces. The building’s auditorium and stage are on the sixth floor and include a seventh-floor balcony.

The Mill Street level contains retail spaces now occupied by Carmen Studios and the Beauty Lounge, which are expected to remain tenants of the property, according to city officials.

For further information, call (330) 374-7560.

Easterling speaking at United Way Women’s Leadership Luncheon

Barbara Easterling

DOWNTOWN AKRON — Barbara Easterling, president of the Alliance for Retired Americans, will be the keynote speaker at The Women’s Leadership Giving Society of United Way of Summit County’s upcoming “Power of the Purse” luncheon Aug. 4 at Quaker Station. Doors will open at 11:15 a.m., with the luncheon lasting from 11:45 a.m. to 1 p.m.

Easterling, an Akron native, started her career as a telephone operator at Ohio Bell Telephone Co. She served as the first woman secretary-treasurer of the Communications Workers of America, as well as being the first woman in history as secretary-treasurer of the AFL-CIO in 1995.

Easterling will discuss “The Power of Women in Career, Home and Community.” She has been an avid leader and supporter of many social issues, raising money for the Elizabeth Glaser Pediatric AIDS Foundation, serving as vice chair of the National Alliance to End Homelessness, trustee of the National Policy Association and a member of the Spina Bifida Foundation, and she serves on the executive committee of the United Way of America and its Board of Governors.

The luncheon also will honor Woman Philanthropist of the Year Vanita Oelschlager.

The cost for the luncheon is $20 per person, or a table of 10 for $190, and those interested can call (330) 643-5533 for details and reservations.