Cornerstone Business Park
Progress at Cornerstone Business Park
The Chrysler Stamping Plant in Twinsburg, a key part of the city's economy since its establishment in 1957, ceased operations in July 2010. This closure was a consequence of Chrysler Corporation's bankruptcy and subsequent restructuring. Spanning 167 acres at the city's western gateway, the site featured over 2.2 million square feet of industrial buildings, along with extensive parking spaces and rail connections. Throughout its operation, the plant was a significant source of employment, benefiting thousands of individuals and contributing millions of dollars to Twinsburg's economic and community growth.
The shutdown of the facility led to significant economic downturn and upheaval in the lives of the workers. However, the new proprietors, Scannell Properties and the DeGeronimo Family Trust, were well-equipped with the necessary funds and foresight to undertake the substantial task of redeveloping the large site. In collaboration with the city, these owners successfully applied for and received financial assistance from the State of Ohio. This state support, coupled with the substantial investment and strategic planning of the owners, enabled the demolition of the old industrial buildings and subsequent enhancements to the site.
The newly established Cornerstone Business Park has become a key contributor to the local economy. Vistar/PFG, a local company, was the first to develop on the site, opening a 137,000 square foot distribution facility in 2013, and recently added a 70,000 square foot extension. This expansion not only retained the 50 existing employees and the company within the city, but also created 25 new jobs.
Development at the park has continued steadily. FedEx opened a 303,000 square foot package distribution center, followed by a fully occupied 202,000 square foot multi-tenant industrial building. Amazon added a 248,000 square foot small package sortation center. O’Reilly Auto Enterprises, LLC, built a 303,000 square foot regional distribution center on the southwest corner of the site, while Scannell Properties recently completed a 247,000 square foot multi-tenant speculative building at the southeast corner. Now, over a thousand employees work on the land that was once part of the Chrysler plant.
Of the original 165-acre site, about 17 acres remain undeveloped, including a highly visible section at the southeast corner of the E. Aurora Road/Chamberlin Road intersection. This area, formerly part of the Chrysler property, is poised to play a crucial role in the city's economic future once again.
The city's Economic Development Division, led by Director Rebecca Ziegler, focuses on business retention, tax incentive programs, and promoting the city to businesses and industries.