CLEVELAND — For the last 40 years the I-X Center has served as a gathering spot for some of the region’s biggest annual events, Auto Shows, Boat Shows, Home & Garden Shows and countless others. It’s an era that will soon come to an end under an agreement approved by Cleveland City Council.
Council is amending the lease at the I-X Center, clearing the way for a yet-to-be-named Fortune 100 company with more than 200 jobs to take over the massive building, with an expected $23 million payroll. The annual rent for the building is nearly $2.2 million.
The new company will require 1.1 million square feet of space, or the vast majority of the building, eliminating the possibility of its use as an exhibition space.
The building has a long history, dating back to 1942 when it was built as the Cleveland Bomber Plant. Owned by the Department of Defense during World War II, it was operated by General Motors as the Fisher Body Aircraft Plant No. 2, making the B-29 bomber. At its peak, it employed around 15,000 people.
In 1950, GM's Cadillac Division moved in for the manufacture of tanks, producing them until 1972.
Since 1985, the I-X Center has been home to annual events such as the Home and Garden Show, the Auto Show and the Indoor Amusement Park, which closed several years ago. It has welcomed more than two million visitors annually. In the late 80s, the 2.2. the million-square-foot building was first recognized in the Guinness World Records as the largest single building convention center in the country.
The I-X Center was bought by the city when new runways for Hopkins were expected and planned, but the need vanished. While rent is paid to the airport, all taxes generated by the facility are paid to the City of Brook Park per a legal settlement agreement dating to the acquisition of I-X Center.
Part of the deal calls for Cleveland to get a larger cut of the income tax generated at the site. It also releases 69 acres of land west and south of the Center, freeing it up for future development.
The lease was to end in 14 years, but the legislation extends it for 49 years. The city has the right to terminate the lease after 10 years if necessary for airport or aviation use by means of uncontested eminent domain.
Events still happening at the I-X Center
- The Summer Wedding Show is still scheduled to take place this weekend at the I-X Center.
