Geis Cos. Completes LG Campus in Ohio
The developer broke ground on the project two years ago.
Geis Cos. has completed LG Chem Ohio, a two-building, 248,000-square-foot campus in Ravenna, Ohio. The LG America subsidiary selected Geis to develop the project in February 2022 and construction started a few months later, in May.
LG Chem acquired the almost 24-acre site for roughly $1.5 million, public records show. At the time, the estimated investment was $64 million, with another $42 million allocated for the purchase of machinery, equipment, furniture and fixtures.
The campus consists of a three-story, 100,000-square-foot office building and a single-story, 148,000-square-foot industrial facility that will produce a type of flexible plastic utilized in numerous industrial sectors, notably in the automotive industry.
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Before breaking ground on the property, LG Chem secured a tax break from the Ohio Tax Credity Authority, which is expected to generate $4.7 million in new annual payroll. The Ravenna Board of Education also approved a 15-year, 100 percent tax abatement.
LG also has another Ohio project in the works, in partnership with Honda Motor CO. Ltd. The duo is constructing a $3.5 billion battery plant that is anticipated to come online by the end of the year.
LG Chem Ohio, up close
The property’s industrial component features a mezzanine and external storage silos and tanks. The facility also encompasses a fitness room, an employee cafeteria and various laboratories dedicated to testing, inspecting and weighing ABS compounds.
The other building features a two-story reception area, a lounge, a gallery and three private reception rooms with a 6,500-square-foot skylight-lit atrium.
The campus is at 310 Rayann Parkway, near the former GE plant within Chestnut Commerce Center, some 23 miles from downtown Akron, Ohio. Portage County Regional Airport is some 3 miles north.
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