Cleveland I-X Center to Shut Down Events as City Pursues Major Fortune 500 Deal

CLEVELAND — Cleveland City Council on Monday approved a lease extension that will transform the I-X Center from a historic event venue into a site for business development, effectively ending decades of trade shows and exhibitions in the 2.2 million-square-foot facility.

By a vote of 13 to 2, council members amended Industrial Commercial Properties’ lease for an additional 49 years. The deal includes provisions to attract a Fortune 500 or Fortune 100 company to occupy one million square feet of the building, potentially creating over 200 jobs and generating a projected $23 million in annual payroll.

“We knew we were going to transition the I-X Center at some point in time,” said Council President Blaine Griffin. “Basically we have an opportunity to attract a major employer to bring more jobs in and more income to the city of Cleveland.”

The amendment concludes the I-X Center’s legacy as a convention space, home to events like the Cleveland Auto Show, the Great Big Home and Garden Show, and the I-X Indoor Amusement Park. City officials have not disclosed when events will end or when the new tenant will begin operations, though the I-X Center’s website still lists events through November.

Council members Mike Polensek and Brian Kazy opposed the lease, citing concerns about revenue sharing with Brook Park and the displacement of long-standing events. “It’s a tough one to swallow,” Polensek said.

Originally constructed in 1942 as the Cleveland Bomber Plant, the building was used to manufacture B-29 aircraft during World War II. It later served as the Cleveland Tank Plant before being repurposed in 1985 into one of the world’s largest single-building exhibition centers.

The city acquired the I-X Center in 2001 through a land swap with Brook Park, gaining control of the facility in exchange for part of the NASA Glenn Research Center. Though Cleveland collects rent from the property, a longstanding legal settlement grants Brook Park a significant share of income and admissions taxes generated at the site.

Under the newly extended lease, Cleveland will receive 1% of income tax from jobs added by the future tenant, increasing to 1.5% after 16 years. ICP will pay $2.2 million in rent annually, with adjustments for inflation. The lease also allows Cleveland to reclaim the building after 10 years via eminent domain if expansion at Hopkins International Airport becomes necessary.

ICP Executive Vice President Austin Semarjian confirmed interest from a major corporation but did not reveal the company’s identity or a timeline for occupation. He said the lease extension was essential for finalizing the deal.

Jeff Epstein, Cleveland’s chief of integrated development, noted that while some events might transition to the Huntington Convention Center downtown, the new lease improves the city’s economic landscape. “This brings a major employer and jobs to Cleveland,” Epstein said.

Some council members pointed out that events at the I-X Center have had limited spillover economic impact due to the building’s isolated location. “People often drive to events and then drive home,” said Councilman Charles Slife. “There aren’t many retail or entertainment options nearby.”

Despite mixed views on the lease, supporters emphasized the opportunity to revitalize the property. Griffin concluded, “It attracts an opportunity for a Fortune 100 company to bring 250 high paying jobs that helps our revenue and our economy.”

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