Toledo is becoming a city of global exports and it's having an impact on the local economy. Numbers for 2010 are in and Toledo saw its exports jump 17-percent, third highest in the nation.
But 13abc's Bill Hormann has learned the city may be close to attracting another huge Chinese business project. No details just yet, but this one could be huge.
When Mayor Mike Bell (I) came into office in 2010 he was intent on recruiting foreign companies to Toledo. He was successful in getting Chinese commercial real estate developers to buy the Marina District, The Docks and the Park Inn.
But local economic development groups are targeting Chinese manufacturers, as well.
"The Chinese government is actually encouraging foreign investment of companies"
Paul Zito, Vice President of International Development with Regional Growth Partnership says, China is 30-years behind Europe when it comes to foreign investment and the Chinese want to catch up.
Toledo recognizes that opportunity and may be close to landing a Chinese metal-working company that could invest tens of millions of dollars in a new plant.
Zito confirms the potential deal but will say little else, telling 13 abc's Bill Hormann, "We are in the final stages of negotiating that and that is good word of mouth in China."
What he means by that is *other* Chinese manufacturers could see a big company move to Toledo and decide Northwest Ohio is a great place to locate *their* product-making business and create local jobs and generate local tax revenue.
Ford Weber, CEO of the Lucas County Economic Development Corporation told 13abc Chinese companies are willing to move manufacturing plants to the United States. "It really is much more cost effective to put those plants here in the United States, and particular here in the great lakes region, where we are closer to the majority of manufacturing in the country."
The old Jeep plant site could be a good spot for Chinese metal makers.
But *people* make product and Toledo has a strong *unionized* labor force.
And John Schlagheck of the Northwest Ohio Building and Construction Trades Council insists any foreign company that moves to the region must make sure they include neighborhood groups and business owners and workers in any development contract. He said, "Development just for development's sake is not always good. It should involve the entire community."
This Chinese metal working company deal is very quiet.
The company could decide to locate somewhere else and a decision is close.
In late September, Toledo will host a conference of nearly 200 overseas manufacturers, commercial developers and other business interests.
Maybe Toledo will have another success story to use for recruiting.
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