Sterling Jewelers Inc. began its corporate operations in the Ghent Road Office Park in 1989. Since then, the company has completed two major building additions and now occupies approximately 360,000 square feet. More than 1,600 employees are currently based at the Akron corporate campus.

Under terms of the option agreement, Sterling Jewelers Inc. would have a 10 year opportunity to purchase the parcels for $64,500 per acre, which represents the City's acquisition cost. The optioned parcels would be transferred to Sterling Jewelers Inc. when the company is prepared to initiate its proposed construction. Company officials indicate that staged future development would be similar in nature and quality to that previously constructed within the park.

In related action, the Planning Commission approved the sale of a five-acre parcel in the City’s North Turkeyfoot Industrial Park to Sterling Jewelers Inc. for construction of a new field repair service center. That operation is currently based in the Ghent Road Office Park. Relocation from Ghent Road will enable the company to accommodate planned office expansion at their corporate campus.

The North Turkeyfoot Industrial Park property was purchased by the City of Akron in 1999 for industrial and commercial redevelopment in the Akron – Coventry Township Joint Economic Development District (JEDD).

Mayor Don Plusquellic said today, "The City of Akron appreciates Sterling Jeweler’s significant and on-going capital investment in Akron and the employment opportunities which they offer to area residents. I am pleased that corporate leadership is looking years into the future to position the company for continued growth. In making this real estate available to Sterling Jewelers today, the City of Akron can ensure that Sterling Jewelers has a successful future here, benefiting both the corporation and our community."