RICHMOND HEIGHTS, Ohio — A private aviation company is planning a major expansion at the Cuyahoga County Airport, with the goal of adding almost 1,000 jobs over the next five and a half years.
On Monday, the Ohio Tax Credit Authority approved a payroll-tax credit for Flexjet, a 30-year-old company that offers fractional jet leasing and ownership, allowing people and businesses to acquire a stake in a plane, along with a certain number of annual flight hours.
Flexjet aims to upgrade its headquarters at the county airport in Richmond Heights, according to a deal summary provided to News 5 by the Ohio Department of Development in response to a public records request. As part of the project, the company will expand its maintenance and repair operations and invest in a new hangar and office space.
The document says Flexjet expects to add 976 full-time jobs in Richmond Heights by Dec. 31, 2031, generating $62.5 million in new annual payroll.
Ohio has been competing against Florida and Texas to land the project, according to the deal summary. With the tax credit authority’s approval, the state is offering Flexjet a 1.92%, 15-year tax credit on new payroll at the site.
A state development spokesman said the incentive could be worth close to $18.6 million. The ultimate value of the tax credit will depend on Flexjet’s actual growth.
As part of the incentive agreement, the company will have to maintain operations in Richmond Heights for at least 18 years.
Founded in 1995, Flexjet has a fleet of more than 340 aircraft and a growing lineup of private jet terminals. The company opened a new headquarters in 2023 as the centerpiece of its roughly 240,000-square-foot campus at the northwestern edge of the county airport.
Flexjet has more than 4,000 employees worldwide. The Richmond Heights campus is home to executives, global operations workers, flight support and safety teams, human resources, information technology, sales and marketing. The complex also includes the company’s main data center.
Last year, Flexjet raised $800 million to support its growth in a deal that was described as the largest equity investment in the history of private aviation.
During its Monday morning meeting, the tax credit authority also approved an incentive for MMY U.S., a modular housing manufacturer that plans to set up shop in Cleveland.
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MMY will receive a 1.392%, 8-year payroll-tax credit worth an estimated $760,000, according to the state development department. The company expects to create at least 120 jobs and $7.1 million in payroll in Cleveland’s Central neighborhood by late 2029.
As part of the tax-credit agreement, MMY will have to stay put for at least 11 years.
The company, based in Kentucky, is teaming up with the nonprofit Site Readiness for Good Jobs Fund to revive a long-vacant factory at 7000 Central Ave. The $26 million revamp could start in the fall, and MMY hopes to launch its first production line here next summer.
Factory-built homes are part of Cleveland Mayor Justin Bibb’s plan for addressing a shortage of decent, affordable housing in the city. Officials believe a local factory will make it easier to fill vacant lots quickly and keep costs down, while putting Clevelanders to work.
The tax credit authority greenlit an incentive for one other project in News 5's viewing area. In Richland County, Pittsburgh Glass Works plans to create 53 jobs over the next few years while investing in plant upgrades. The company manufactures glass for the automotive industry.
Pittsburgh Glass Works will receive a 1.302%, 8-year tax credit tied to job growth in Sandusky Township. The company expects to add $4.8 million in payroll by late 2029.
The tax credit is worth an estimated $450,000.
Michelle Jarboe is the business growth and development reporter at News 5 Cleveland. Follow her on X @MJarboe or email her at Michelle.Jarboe@wews.com.
