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Pubco Corp. is banking on the familiarity of the Smith Corona name and some financial assistance from the city of Cleveland to launch a bar code label production operation in the Midtown Corridor.
Cleveland City Council's Community and Economic Development Committee last week approved a 10-year, 60% property tax abatement for Pubco, which plans to buy famed typewriter maker Smith Corona Corp. of Cortland, N.Y., and move that company's operations to Pubco's 300,000-square-foot building at 3830 Kelley Ave. in Cleveland. Pubco intends to produce at the building bar code shipping labels, possibly under the Smith Corona name.
The tax package still must be approved by council's Finance Committee. Pubco expects the labeling operation to add 10 employees to its 100-person staff.
Benny Bonanno, Pubco's vice president of marketing, said the $1.06 million savings the tax break allows over 10 years would shore...