Sale of Toledo-owned properties will help create hundreds of jobs and millions in capital investment
Toledo recently closed on four deals that will help with key revitalization efforts.
TOLEDO, Ohio (WTVG) - The City of Toledo has just closed on several property deals that will help create long-term investments and jobs in our community. Three companies will be using the land to expand operations at existing sites, and another parcel will be used by Metroparks Toledo.
The projects will create more than 300 jobs and $41 million in capital investment will be made from the deals.
“It’s not just one sector or part of the city,” says Brandon Sehlhorst, the Commissioner of Economic Development. “We are seeing investment throughout the city.”
Property along Front Street was transferred to the Metroparks a part of the Glass City Metropark and Riverwalk projects. That land will be transformed into an urban campground.
One of the most visible vacant properties in the city is the old Textileather site adjacent to the Toledo Assembly Complex. It was sold to Stellantis.
“They will build a multi-million dollar vehicle customization facility on the property,” says Sehlhorst. “The plant will create about 300 new jobs.”
A 50-acre property near Angola and Reynolds was also just sold by the city. Estes Express Lines will expand its trucking operations at the site. Sehlhorst says they’ll retain 193 jobs and create additional opportunities.
The city also just sold its last remaining parcel of land in the Triad Business Park in Monclova Township. A multi-million dollar facility will be built on the property, creating about 20 jobs. The land is in what’s known as a Joint Economic Development District which will allow Toledo to collect a portion of the income tax generated at the site.
Sehlhorst says there are more projects in the pipeline, including the old North Towne Square Mall property.
“We have 60-acres of industrial- zoned land,” he explains. “It is the largest available site within the city. Hopefully, we’ll have news to share soon on that.”
All these projects are building blocks in the effort to keep the city’s momentum going.
“Success breeds success,” says Sehlhorst. “That is what will keep this community continuing to be revitalized and redeveloped.”
There is another vacant site update. The old Champion Spark Plug property near Nebraska and Dorr was recently purchased by the city. Redevelopment plans for the 20-acre site are now in the works.
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