Huntington Bank has agreed to keep its headquarters in Akron as part of a new development plan approved by Akron City Council earlier this month.
In exchange for more public improvements around Cascade Plaza, the bank will keep a minimum of 1,200 Akron-based jobs, while it closes 70 branch locations in America, including 30 in Ohio and two in Summit County.
Earlier this month, Akron City Council and Huntington Bank came to an agreement, which included keeping its headquarters within Akron city limits beginning Jan. 1, 2018 through Dec. 31, 2022.
Also in the agreement, Huntington is able to get an equivalent of .35 percent of income tax collected based on the growth over and above the baseline job numbers. During the five years, Huntington must maintain 1,200 positions while keeping a minimum of $63,000,000 in payroll.