Perrysburg City Council last night expanded a community reinvestment area to include the possible site of O-I's new headquarters.
The city extended the southern boundary of a community reinvestment area that encompasses almost all the commercial areas in the city. The area now extends south to Five Point Road and includes the entire Levis Development Park, where O-I is considering moving its headquarters. The company now is headquartered in downtown Toledo.
Businesses in the community reinvestment area are eligible for tax abatements. A business can get a 100 percent tax abatement for up to 12 years to expand, and a new business can get a 100 percent tax abatement for up to 15 years. Residences and retail stores are not eligible.