Toledo among nation's best in attracting economic development
TOLEDO - (WTVG) - Toledo is justifiably proud of all the downtown development.
But Monday, confirmation from an outside source.
Site Selection magazine announced Toledo ranks third among midsized cities for economic development.
The call center operated by Credit Adjustments is one reason why Toledo did well in the survey.
The company has been online since January, hiring 60-workers out of the Ebeid building on Madison Street since January.
It's looking for more office space and to hire hundreds more workers.
Hayley Studer, a chief mission officer with Credit Adjustments says, "Over the next three years, we're committed to providing 500 jobs to the uptown-downtown area."
Monday, Site Selection magazine, the gold standard among business and economic development groups, officially released results of its 2017 survey of US cities.
Toledo is graded against other 'Tier Two' cities. Those are town with a population between 200,000 and 1 million inhabitants.
The magazine looks at development projects with either $1 million dollars of investment, 20,000 s1uare feet in space or that employ at least 20 people.
Based on the resulting data, Toledo ranks third among mid-sized cities nationwide with 31-project meeting at least one of those criteria.
Gary Daughter, senior editor with Site Selection magazine says, "Cities get growth when they want it and they get growth when they work for it and we're seeing that in Toledo, now."
Promedica's downtown headquarters gets a lot of credit for inspiring other development like the Tower on the Maumee or Hotel Seagate.
And the Toledo- Lucas County Port Authority took a chance on the Overland Industrial Park. Its $20 million dollar investment in clean up and spec buildings turned into $120 million in development.
Paul Toth with the Toledo-Lucas County Port Authority says, "I've long believed we have to save ourselves before we can expect somebody else to come in and believe in us as well."
And this ranking by a magazine respected by companies across the globe will get noticed.
Dean Monske with Regional Growth Partnership says Site Selection magazine talks "to the corporate decision makers, They're talking to site selectors who work with corporate and decide whether that new investment goes."
Toledo was 7th in Site Selection magazine last year and momentum seems to be moving forward.
Why the success?
Collaboration and cooperation between state and local governments, private business and economic development groups.
Also, having a strong, trained workforce ready to do any job is a major factor.