Toledo sees investment of more than $2 billion in 2020

TOLEDO, Ohio (WTVG) - While 2020 was a painful year on so many levels, it was a surprisingly successful year when it comes to economic development in the City of Toledo.

The city saw just over $2 billion in investment last year, which is expected to create about 3,500 jobs. The investment covers a wide range of things from big industrial projects to small businesses as well as new residential projects.

Brandon Sehlhorst is the Commissioner of Economic Development for Toledo.

“We have over 1,000 new residential units planned or under construction ranging from affordable to market rate,” he says.

A big chunk of the investment is also focused on downtown.

“Currently we have over $500 million in investment in downtown, including the Metroparks. There are over 17 new businesses either announced or opening in downtown over the past few months. That includes 8 new restaurants, 7 retail stores and two new breweries,” says Sehlhorst.

City leaders expect the good news to continue this year. One of the top priorities is a site that’s been vacant for years. While he won’t talk specifics, Mayor Kapszukiewicz says there are promising leads on the property.

“I think it is fair to say that within the coming weeks and months we will have good news at the old North Towne site. I truly feel an excitement going into 2021 because I believe we will hold on to our economic momentum,” he says.

On a side note, national publications continue to recognize the city for it’s economic development work. Toledo has been ranked in the top ten mid-size cities when it comes to corporate investment for the last five years. The city is ranked second for mid-size cities when it comes to manufacturing.

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