Economic Development

ViewRay Inc., a Florida company, has chosen Oakwood over several competing cities as its new home, a 41,000-square-foot building on Thermo Fisher Way.viewrayribboncut The company is developing image-guided Radiation therapy technology and has promised to hire 25 professionals in its first year of operation. ViewRay is hiring software and hardware engineers, said Will Wells, the company’s chief executive. “We were lucky to find extremely talented people who have advanced degrees and broad history in the imaging field,” Wells said. “That’s why we selected Cleveland.”

broad_oak“ViewRay’s initial jobs are likely to pay around $100,000 a year,” stated Mayor Gottschalk, and They plan to be adding 65 more jobs in its second and third years. The company’s Renaissance System 1000 uses magnetic resonance images to precisely target cancerous tumours with gamma radiation with little damage to surrounding healthy tissue. A group of East and West coast investors offered ViewRay a $25 million investment if it moved from Gainesville, Fla., to a center of bioscience innovation. The region’s medical imaging heritage, clinical and medical academic institutions, and economic development teamwork won over Wells. Some tax incentives also helped. The Ohio Tax Credit Authority granted ViewRay job-creation tax credits worth $537,431 over 10 years. Oakwood granted the company a 90 percent abatement of personal property tax for 15 years, Gottschalk said.

ribbon_cutting1Thermo Fisher has made Oakwood Village its corporate venue developing Security products which includes a comprehensive range of fixed and portable instruments used for chemical, radiation, and explosives detection. These products are used in airports, embassies, cargo facilities, border crossings, and other high-threat facilities.

chain_cutting1Airgas opened its newest location in the summer of 2009 here in the Village of Oakwood with a chain cutting ceremony which was quite an exciting event. Airgas is the United States’ largest distributor of industrial, medical, and specialty gases and related equipment, safety supplies and MRO products and services to industrial and commercial markets.

woodcraftOakwood is continuing to grow its economic base in the fields of science, medicine, technology and even in the field of woodworking with the incorporation of one of the most recent members of the Hawthorne Valley Shopping Center. The company is offering educational classes on building basics to cabinet construction – the company, Woodcraft.

For additional information on Economic Development opportunities in Oakwood, please contact Mayor Gary Gottschalk at 440-232-9988.