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.

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.

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.

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

Wade Kapszukiewicz, the city's 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. 

The city also released a video highlighting some of its many economic success stories and the first-place honor from Site Selection Magazine.