Roundstone Insurance is planning a major company expansion with the purchase of 65,000 square feet of office space for its new headquarters in suburban Cleveland.
The Lakewood, Ohio-based payer currently employs 100 people and is expected to double that number in the next five years, according to documents published March 29 by the City of Lakewood.
The $16.5 million space is part of a larger $90 million redevelopment of a 5.7-acre site previously occupied by Cleveland Clinic.
All work for Roundstone is estimated for completion in 2025. The development deal includes $1.5 million in economic subsidies over eight years for Roundstone from the City of Lakewood to support job retention and company expansion.