Company staying in Independence, Ohio; Will anchor new Class A office building
CBIZ, Inc. (NYSE: CBZ), a leading national provider of financial, insurance, advisory and other professional services, will anchor a new, Class A office building in Independence, Ohio – its proud corporate home for over 20 years – beginning in fall 2022, the company announced today.
“Today’s exciting announcement is the culmination of months of collaboration between CBIZ, the city of Independence and other local and state partners,” said Jerry Grisko, President and CEO of CBIZ. “We’re proud to be part of a new, state-of-the-art building that embodies the core values at the center of our CBIZ culture, embraces the future of work and reaffirms our commitment to Ohio and the region.”
CBIZ, which employs almost 5,000 professionals nationwide and has approximately 200 employees at its corporate headquarters, will occupy close to 50,000 square feet at the 125,000 square foot development site located on Rockside Woods Boulevard North in Independence.
“I’m grateful for CBIZ’s longstanding commitment to our community,” said Gregory Kurtz, mayor of Independence. “This project presents an exciting opportunity for our city, and given their civic contributions over the past two decades, it’s only fitting CBIZ is at the heart of our continued growth.”
Welty Development Company is the lead developer for the project and is expected to break ground this summer. VOCON is leading design for the building. The project will mark Independence’s first Class A office space development project in more than a decade.
“We are excited to be a part of this important milestone in CBIZ’s proud history,” said Don Taylor, CEO for Welty Development Company. “At Welty, we believe great buildings enrich lives and we share CBIZ’s passion for creating a dynamic work environment that meets the needs of their team members and clients.”
CBIZ and Welty have been working closely with the City of Independence and JobsOhio, a private nonprofit designed to drive job creation and new capital investment in the state, on an incentives package to support the project, retain existing jobs and create new ones within the region. The project is contingent upon final approval of the State, JobsOhio and local incentives. Locally, Team NEO and Greater Cleveland Partnership advised on the opportunity.
“Along with our State and local partners, we welcome CBIZ’s plans to locate its new headquarters at the class A office space being developed in Independence, a city it has called home for more than two decades,” said J.P. Nauseef, JobsOhio president and CEO. “CBIZ’s investment in Independence demonstrates its confidence in Northeast Ohio’s talent, providing its associates the space and technology to continue advancing their clients’ professional services needs.”
A primary driver of CBIZ’s decision to move from its current home at Park Center Plaza III when its lease ends in early 2022 is the company’s desire to modernize its headquarters space to meet the evolving needs of its clients and workforce. Lessons learned since the onset of the COVID-19 pandemic as the company embraces a higher degree of remote work, more flexible work space and new technology, will help to inform the design process.
“We’ve learned a great deal about how we can work together to best serve our clients and foster collaboration within our team,” Grisko said. “Physical office space will always be an essential part of our business model. The selection and design of our new headquarters site represents an opportunity to reimagine how we can best support our people, clients and business. We are proud to stay in Ohio and Independence and look forward to remaining a valued civic partner for years to come.”
CBIZ will exit its existing office space in February 2022 with team members shifting to a combination of temporary space and remote work until the new facility is completed in the second half of 2022.
CBIZ, Inc. is a leading provider of financial, insurance and advisory services to businesses throughout the United States. Financial services include accounting, tax, government health care consulting, transaction advisory, risk advisory, and valuation services. Insurance services include employee benefits consulting, retirement plan consulting, property and casualty insurance, payroll, and human capital consulting. With more than 100 Company offices in 31 states, CBIZ is one of the largest accounting and insurance brokerage providers in the U.S. For more information, visit www.cbiz.com.