Twinsburg, Solon Team a Finalist for Economic Award

A collaborative agreement between Twinsburg and Solon has earned the two cities a spot as finalists in a regional economic development competition.

The cities, as a team, are finalists in the award for New Economic Development Practice for the 2011 Team NEO Economic Development Plus Awards by Team NEO Cleveland and Inside Business magazine.

Director of Community Planning and Development Larry Finch said Twinsburg and Solon are being recognized for an economic agreement both cities made in May 2010.

The agreement limits the level of incentives either city could offer a business to move from one to the other. By capping the income tax incentives at 50 percent, the agreement encourages businesses to stay where they are and prevents both communities from competing with one another.

"We think we are ahead of the game regionally," Finch said. "We think this is a simpler, more easily implemented method to control incentives."

One of the finalists includes a team comprised of the city of Cleveland with a development agency, an Ohio State satellite campus and the Rid-All Green Partnership.

The other finalist is Employment Connection, a Cleveland-based company that helps area businesses find employees.

The winner will be announced at the awards ceremony on June 30 at the John S. Knight Center in Akron.

Look for two more-detailed installments of this story later this week from both Twinsburg Patch and Solon Patch.