Summit County officials this week announced a six-year capital plan, which includes $15 million to finance a series of promised improvements for Goodyear Tire and Rubber Co., which recently announced its decision to stay in Akron and build a new world headquarters there.

The company received at least $17 million in additional funds from the state.

The capital plan comes two weeks after Standard & Poor’s affirmed its AA rating and stable outlook on Summit’s general obligation bonds.

County Executive Russell Pry said plans include a new Veterans Service building, a new animal control facility, a new sheriff’s administration building, and an expansion of the sewer system.

Analysts noted the county’s strong financial position, anchored by an unreserved general fund balance of $65.7 million, or 59% of annual expenditures over the last five years. Summit County has a below-average debt burden of $1,383 per capita, with debt service at about 11% of general fund expenditures, and Standard & Poor’s said it expect future debt plans will continue to be manageable.

But analysts said the county’s financial position could be strained under a continuing economic slowdown, which would mean flat sales-tax growth and declining real estate taxes.


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