Delete WardFeb 27, 2025
Council recently approved a Job Creation Income Tax Incentive Program with Canon Healthcare USA that will result in Cleveland becoming the national headquarters for Canon Healthcare USA .
The company has bought the former IBM building at E. 105 St. and Cedar Ave. adjacent to the Cleveland Clinic. and in the "Cleveland Innovation District." Canon intends to invest about $33.7 million in purchasing the building, building improvements, machinery, equipment, and more.
The investment will transform the 43,000 sq. ft. facility into a state-of-the-art imaging and research center. This will be Canon's national headquarters and will serve as the base for all its medical product lines.
The facility will support research and development of imaging technologies. The City will provide a 5-year 50% payroll tax credit on the 2.5% income tax withheld by Canon. Canon expects to create 50 full-time equivalent jobs with an annual payroll of $7.5 million.
Besides city support, the Ohio Tax Credit Authority approved a 2.842 percent, 10-year tax credit for Canon Healthcare USA for the creation of new annual payroll as a result of the company’s project in Cleveland.
Read other articles about Canon's investment in Cleveland:
Cannon Doubles Down US Market with New Cleveland-Based Healthcare Subsidiary