CLEVELAND, Oct. 22, 2021 /PRNewswire/ -- The
Sherwin-Williams Company (NYSE: SHW) is pleased to announce that it
held a groundbreaking ceremony today to signal the official start
of construction for the Company's new global Research and
Development Center.
Part of the Building Our Future project, the 600,000 square-foot
facility located in Brecksville,
Ohio, will bring chemists, engineers, technicians and
support teams together into a state-of-the-art hub for innovation
and development of the Company's future products and services. The
new R&D Center will support product development, coatings
research, color technology and process engineering.
"This is a monumental day for our organization," said
John G. Morikis, Sherwin-Williams
Chairman, President and Chief Executive Officer. "This new R&D
Center will be the global innovation epicenter for creating
solutions that solve our customers' problems, as well as a key to
us to retaining and attracting top talent. We're also celebrating
the broad and diverse group of companies and individuals that will
be working on this project, along with the ongoing impact the
project will have on the community and region for years to come.
And we're proud to be building it right here in Northeast Ohio, our home for more than 155
years."
The Building Our Future project includes both the new R&D
Center in Brecksville and a new
global headquarters in Downtown
Cleveland, which will be approximately 1,000,000 square-feet
in size. Sherwin-Williams plans to invest a minimum of $600 million to build both the headquarters and
R&D facility.
"We appreciate the investment made by Sherwin-Williams in
creating world-class facilities for research and development in
Brecksville and a new global
headquarters in downtown Cleveland," said State of Ohio Governor Mike DeWine. "Combined, these new facilities
will generate positive economic impact as well as serve as a
catalyst for future development throughout the region."
Together, the two facilities will house more than 3,500
employees with room to accommodate future growth. Sherwin-Williams
estimates it will add a minimum of 400 jobs at these facilities
over time, an increase of 11 percent to the Company's current local
workforce. Many of these jobs will include professional staff,
engineers and chemists.
"We have been incredibly fortunate to have Sherwin-Williams be
part of our community for the past 155 years, and Cuyahoga County is pleased that we were part
of a strong public-private partnership that provided the necessary
financial commitments designed to support the Company's decision to
remain in Northeast Ohio," said
Cuyahoga County Executive Armond
Budish. "And we are incredibly fortunate that they want to
invest in our region with both a new global R&D Center in our
own backyard while a new headquarters site is being developed in
the heart of downtown Cleveland."
In addition to Governor Mike
DeWine, County Executive Armond
Budish and Mayor Jerry Hruby,
Sherwin-Williams was honored to have additional public dignitaries
provide remarks at the ceremony. They included Senator Sherrod Brown, Senator Rob Portman, State Senator Matt Dolan and State Representative Phil Robinson.
"The investment in this new R&D Center will spur additional
investment by others and continue to strengthen and develop our
local economy and translate into incremental tax dollars for the
city and the schools," said City of
Brecksville Mayor Jerry
Hruby. "Sherwin-Williams has been a fantastic partner in
working with us to strengthen this area of our city. We are looking
forward to welcoming Sherwin-Williams employees to their new
R&D Center in 2024."
The R&D Center is expected to open by the end of 2024 and is
projected to generate 3,000 construction jobs.
Sherwin-Williams has extended its corporate inclusion, diversity
and equity (ID&E) commitment to the construction of the two
facilities. The Company has developed and is executing a strategic
and deliberate approach to include minority-owned, female-owned and
small businesses. Sherwin-Williams continues to work proactively
with community, city, county and state leaders, local organizations
and trade partners to identify further opportunities for
involvement.
For ongoing updates on the Company's new global headquarters and
new R&D Center, please visit buildingourfuture.com.
Firms that are interested in working on the Building Our Future
project should register at buildingourfuture.gilbaneco.com/.
ABOUT THE SHERWIN-WILLIAMS COMPANY
Founded in 1866,
The Sherwin-Williams Company is a global leader in the manufacture,
development, distribution, and sale of paint, coatings and related
products to professional, industrial, commercial, and retail
customers. The Company manufactures products under well-known
brands such as Sherwin-Williams®, Valspar®, HGTV
HOME® by Sherwin-Williams, Dutch Boy®,
Krylon®, Minwax®, Thompson's® Water Seal®,
Cabot® and many more. With global headquarters in
Cleveland, Ohio, Sherwin-Williams®
branded products are sold exclusively through a chain of more than
5,000 Company-operated stores and facilities, while the Company's
other brands are sold through leading mass merchandisers, home
centers, independent paint dealers, hardware stores, automotive
retailers, and industrial distributors. The Sherwin-Williams
Performance Coatings Group supplies a broad range of
highly-engineered solutions for the construction, industrial,
packaging and transportation markets in more than 120 countries
around the world. Sherwin-Williams shares are traded on the New
York Stock Exchange (symbol: SHW). For more information, visit
www.sherwin.com.
Investor Relations
Contacts:
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Media
Contact:
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Jim Jaye
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Julie
Young
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Senior Vice
President, Investor Relations &
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Vice President,
Global Corporate
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Corporate
Communications
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Communications
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Sherwin-Williams
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Sherwin-Williams
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Direct:
216.515.8682
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Direct:
216.515.8849
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investor.relations@sherwin.com
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corporatemedia@sherwin.com
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Eric
Swanson
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Vice President,
Investor Relations
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Sherwin-Williams
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Direct:
216.566.2766
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investor.relations@sherwin.com
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SOURCE The Sherwin-Williams Company