Mace Security moves headquarters
CLEVELAND—Mace Security International is moving its headquarters from Horsham, Pa., to Cleveland’s Midtown neighborhood, according to a blog post from Cleveland.com.
Mace signed a 10-year lease on a 49,000-square-foot building that will house its headquarters and manufacturing operations, the article noted. The move comes after a rough patch for the business, which saw its stock fall precipitously in recent years.
The new headquarters will be located along Cleveland’s health and technology corridor. John McCann, the company’s CEO since early 2012, hopes to open the new headquarters in August, the article noted. The company expects to employ about 50 people, comprising most of its workforce, in the Cleveland facility.
Last September, the state of Ohio approved a job-creation tax credit for Mace, which at that point had not zeroed in on a particular site for their relocation. The city of Cleveland offered a $180,000 grant through a program aimed a little-used or vacant properties to help fund the building’s renovation, the article noted. Currently, Cuyahoga County is mulling a $650,000, 10-year low-interest loan for the project. The loan still needs approval from the Cuyahoga County Council, according to the article.