Toledo Ranked No. 1 for New Business Investment

Toledo has been named number one in the nation among mid-sized cities for new business investment by Site Selection Magazine, Mayor Wade Kapszukiewicz announced today.

“The recognition is a major victory for our residents and our business partners,” Mayor Kapszukiewicz said. “This achievement simply would not be possible without the commitment from the business community. I would like to thank those companies that continue to locate and invest in our community. Today, we celebrate you and what you have done for Toledo.”

“Year after year, the economic momentum in this city continues to build and the pipeline for 2021 is very strong,” the mayor said.

There are approximately $2.2 billion worth of projects currently underway, or recently completed, that are expected to create nearly 3,500 new permanent jobs and 1,079 new residential units.

The international magazine recognized Toledo for its economic development projects, including a $25 million investment by Amazon at the former Southwyck Shopping Center property that will create 410 jobs and redevelop a 58 acre site; a $23 million investment by Stellantis, formerly Fiat Chrysler Automobiles, for the sale and redevelopment of the former Textileather and MedCorp properties site; a $75 million investment by General Motors at its Toledo Transmission Operations facility in North Toledo resulting in the retention of hundreds of jobs, and Libbey’s announcement that it will invest nearly $30 million over the next four years.

“We have had a great number of economic success stories, completed during the pandemic,” the mayor said. “Yes, like all cities, we have industries struggling due to COVID-19, but our recovery is strong, and this award is another example of the job growth and business investment that exists in Toledo. “The city is committed to working with its partners to cultivate a business- and development-friendly environment necessary to bring new opportunities to our community.”

The mayor made the announcement during a news conference at the Glass City Pavilion, Glass City Metropark.

Site Selection Magazine has consistently ranked Toledo in the top 10 for the past five years.

“When Toledo was ranked third in 2018, it was an indication that our city was on the comeback, that things were getting better, and people were starting to take notice,” Mayor Kapszukiewicz said. “There has been a momentum gathering that could not be ignored, and I think the residents of Toledo should take great pride now that our city has been ranked as top in the nation.”

The mayor attributed part of the city’s success to its partners, including Lucas County, the Toledo-Lucas County Port Authority, the Regional Growth Partnership, JobsOhio, and the business community.

“This means a great deal to the entire region because of who it comes from,” said Dean Monske, president and chief executive officer of the Regional Growth Partnership. “Site Selection Magazine has truly been the bible of the economic development and corporate site selection world.”

Ohio Gov. Mike DeWine released a video congratulating Toledo on the award. View the video at this link: https://youtu.be/HU7uAG_P1cU

The city also released a video highlighting some of its many economic success stories and the first-place honor from Site Selection Magazine. Watch the video at this link: https://www.youtube.com/watch?v=gIUiNPrU-HI