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Independence council approves job retention grant for Rea and Associates
Summary
The Independence City Council on April 8 approved a job retention grant to keep Rea and Associates operating in the city and to support a planned $1.5 million office renovation expected to preserve about 30 jobs and add about 35 new positions.
The Independence City Council on April 8 adopted an ordinance authorizing the mayor to enter into a job retention grant agreement with Rea and Associates Inc., a local accounting and business advisory firm, after staff laid out the company’s expansion plans.
Jess, an economic development staff member, told the council Rea and Associates plans to consolidate offices into its Independence site at 6300 Rockside Road and invest roughly $1,500,000 in building upgrades. "They are looking to invest about $1,500,000 in upgrades to their building, which is at 6300 Rockside Road," Jess said. The firm told staff it would retain about 30 employees at the site and hire roughly 35 additional workers, increasing combined payroll from about $4,750,000 toward an anticipated $6,100,000.
Nut Graf: The council placed the measure on the consent agenda and adopted it, authorizing a five-year, 25% incentive with a five-year monitoring period—standard for the city’s economic incentives. City staff told council the company initially requested about $275,000 in assistance; staff recommended approximately $135,000 based on the project’s projections.
Council members and staff said most work will be on interior upgrades. According to staff, about 70% of the planned investment would go toward renovations including flooring, walls, restrooms and lighting, with work expected to be completed by the end of 2025. Jeremy and Devin, representatives from the company and its sponsor, were present to answer questions about space and tenant arrangements; staff said the three-story building is fully occupied with a mix of year-to-year leases on some tenant spaces.
The ordinance (2025-48) was moved to the consent agenda and adopted by roll call. Council members voting in favor recorded on the roll call included Laverga; Walt Chanowicz; DeGeronimo; Narduzzi; Tagliati; Trakis; and others who answered yes during the vote. The agreement authorizes the mayor to finalize terms with Rea and Associates and does not prescribe additional policy changes beyond the grant and monitoring schedule.
Ending: Council adopted the grant ordinance and then moved on to other items and an executive session later in the evening. Staff indicated the company’s work would be monitored through the city’s standard five-year compliance period.
