CLEVELAND– Sherwin-Williams is searching for a location for its new global headquarters and research and development facility.
The company will consider sites in Cleveland, Northeast Ohio and several other states, Sherwin-Williams said in a news release on Thursday. A move to any new buildings would occur in 2023 at the earliest.
“The company’s significant growth and global expansion over the last several decades has resulted in a less than optimal configuration of headquarters, offices and R&D facilities across multiple locations,” said John Morikis, Sherwin-Williams chairman and CEO.
“Given the limitations of our current footprint and driven by the needs of our customers, we are exploring options that will help us to accelerate productivity and efficiency, enhance technology and innovation, enable greater collaboration, support recruitment and retention and reduce maintenance costs over the long term.”
Sherwin-Williams headquarters has been located on Prospect Avenue in Cleveland since 1930. Its facilities in Northeast Ohio employ about 4,400 people.
The company pays $15 million a year in taxes to the city of Cleveland. According to Sherwin-Williams, the employee payroll in Cuyahoga County is more than $500 million.