Toledo reports more jobs, more tax revenue - 13abc.com Toledo (OH) News, Weather and Sports

Toledo reports more jobs, more tax revenue

Posted: Updated:

Toledo's economy continues to improve and that's helping the city's bottom line.  Strong job numbers mean more tax revenue.

It's not dramatic growth but it's steady.

Tuesday, a new jobs report showed Toledo's unemployment rate dipped to 8% in October... down from 8.2%.

So far this year, the federal government reports Toledo has created 3,000 in manufacturing,  medical, banking, transportation and other industries.

Toledo's commissioner of treasury and taxation, Clarence Coleman, told a city council committee that the job growth is diversified, saying, "It's not just one employer, the growth is across the board."

With more people working, Toledo is collecting more taxes, up 4.6% in October.  For the year, . the city has collected $5-million more in taxes than in 2011.

That is important because tax collections have now increased between 4- and 6- percent for 18-months, indicating the city's economy is  on the rebound.

Councilman George Sarantou noted that growth during the hearing, saying, "It would seem we have a clear, consistent increase in tax revenue.  Slow, but consistent.'

And next year could see more good job numbers.   Jeep will hire 1200 workers by the end of the summer.  That will help with unemployment and tax collections.

Mayor Mike Bell (I) is being conservative on his administration's tax collection estimate for next year thinking it will grow about 3%, but it's higher than that this year.

Yet, there is one looming threat:  the fiscal cliff at the national level.

If Congress and the president do not work out a favorable budget deal, Toledo and the country could slip back into recession with much higher unemployment.

  • LocalMore>>

  • Local man related to Titanic passenger

    Local man related to Titanic passenger

    Wednesday, April 16 2014 3:00 PM EDT2014-04-16 19:00:21 GMT
    Earl Tolbert has a connection to a third class passenger aboard the legendary Titanic. He finds his name quickly at the imagination station's titanic artifact exhibit. He tells 13 ABC, "his brother was
    Earl Tolbert has a connection to a third class passenger aboard the legendary Titanic. He finds his name quickly at the imagination station's titanic artifact exhibit. He tells 13 ABC, "his brother was
  • New Police recruit is a Cancer Survivor

    New Police recruit is a Cancer Survivor

    Wednesday, April 16 2014 2:49 PM EDT2014-04-16 18:49:59 GMT
    In February of 2013,13 ABC was there when Private First Class Andrew Pennington was reunited with his family. The Oregon native had been serving in Afghanistan and was able to hold his son for the first
    In February of 2013,13 ABC was there when Private First Class Andrew Pennington was reunited with his family. The Oregon native had been serving in Afghanistan and was able to hold his son for the first
  • Toledo sets another record low

    Toledo sets another record low

    Wednesday, April 16 2014 2:31 PM EDT2014-04-16 18:31:35 GMT
    This morning's low temperature fell to 19 degrees which broke another record low. The old record was set 139 years ago when the temperature fell to 20 degrees. While today is the first time this month
    Old record was set in 1875.
  • Top StoriesMore>>

  • Closing arguments in Amanda Bacon trial

    Closing arguments in Amanda Bacon trial

    Amanda Bacon, the Toledo mother is accused of killing her six-month old son, says she didn't do it. Both sides in her trial made their final appeals to the jury Wednesday. An angry Amanda Bacon took the stand in her own defense. Her attorneys said she has a right to be angry, because she did nothing wrong.
  • Local man related to Titanic passenger

    Local man related to Titanic passenger

    Wednesday, April 16 2014 3:00 PM EDT2014-04-16 19:00:21 GMT
    Earl Tolbert has a connection to a third class passenger aboard the legendary Titanic. He finds his name quickly at the imagination station's titanic artifact exhibit. He tells 13 ABC, "his brother was
    Earl Tolbert has a connection to a third class passenger aboard the legendary Titanic. He finds his name quickly at the imagination station's titanic artifact exhibit. He tells 13 ABC, "his brother was
  • New Police recruit is a Cancer Survivor

    New Police recruit is a Cancer Survivor

    Wednesday, April 16 2014 2:49 PM EDT2014-04-16 18:49:59 GMT
    In February of 2013,13 ABC was there when Private First Class Andrew Pennington was reunited with his family. The Oregon native had been serving in Afghanistan and was able to hold his son for the first
    In February of 2013,13 ABC was there when Private First Class Andrew Pennington was reunited with his family. The Oregon native had been serving in Afghanistan and was able to hold his son for the first

Area Events Calendar

See It, Shoot It, Send It!