130 high paying jobs coming to Toledo
130 new high paying manufacturing jobs are coming to Toledo. The Cliffs Natural Resources Corporation is building a new $700 million dollar iron processing facility. It will be built along Front Street right next to the Oregon/Toledo city lines.
"We will hire locals," says Cliffs President and CEO Lourenco Goncalves, "The jobs will start at $90 thousand and some will pay over $100 thousand."
The project is also expected to create over 1,200 construction jobs when the company breaks ground in 2018. The facility is expected to open in 2020.
"This can be extremely exciting for Toledo" says Goncalves "The usual rates of multiplying effect in our industry is 1 to 10, generate one job in a site like ours and generate around 10 more."
The Toledo-Lucas County Port Authority put together a $30 million dollar incentive package which will it says will likely include property tax breaks. It does include job creation tax credits and money to build up the infrastructure for the plant to be built. "It's finishing up getting rail access to the site, it's getting natural gas, it's getting electric and building a sub-station, getting roads building roundabouts, making sure the access is acceptable to handle the enormous loads that will transported to the plant," says Paul Toth, President and CEO of the Toledo-Lucas County Port Authority.
The project is expected to bring an additional 120 ships to the Toledo Port each year, which in turn will spur other shipments in and out of Toledo.