The Job Center provides businesses and residents access to career services at one state-of-the-art location. Administered by the Summit County Workforce Policy Board, an independent, 501c3 nonprofit organization, The Job Center opened in 2007 in a former warehouse. The new center provides 55,000 sq. ft. of space to the Job Center partners and 45,000 sq. ft. to be leased to other tenants. The services provided include:
- Business resources
- Labor market information
- Job matching
- Employment screening
- Workshops, training and education
The Value Provided
- Financing a multi-tenant real estate project is often difficult.
- Lease terms did not line up with bond financing terms.
- Summit County wanted to preserve its borrowing capacity.
Benefits of Working with us
- DFA Bonds financed the project.
- Bonds rated BBB+ resulting in a very favorable interest rate
Project Cost: $6.83 million
$4,830,000 – DFA Series 2005 E & F Bonds
$2,000,000 – Summit County Loan
$6,830,000 – Total
Series 2005 E Bonds: 5.000%
Series 2005 F Bonds: 4.875% (tax-exempt)
Development Finance Authority sold $4.8 million in development revenue bonds to finance the project. The debt will be serviced from tenant leases. Summit County provided a guarantee on debt service payable solely from non-tax revenues. Additional support was provided by the Greater Akron Chamber of Commerce.