When you want to give your New Economy business the edge it needs to succeed and grow, the Toledo Region is the place to begin. Around here, economic development is a cooperative effort and the vitality of the region is a shared goal. The area’s universities, municipalities and other economic development entities work together to provide the technical assistance, access to incentives and site selection services you need to accelerate your opportunity in the New Manufacturing Economy.
The region’s long history of manufacturing innovation (particularly in the glass industry), coupled with substantial geographical and workforce assets, position the area to capitalize on industrial growth in four primary areas: Solar/Advanced Renewable Energy; Transportation Logistics; Architecture, Construction and Engineering Services; and Bioscience.
Businesses choosing to call the Toledo Region home also have access to a variety of local, state and federal programs designed to meet capital, research, technology and workforce funding needs for qualified projects. The area’s economic development practitioners are adept at assessing a business’s unique needs and then matching them up with the most appropriate provider of support services or incentives.
While the Toledo Region takes a collaborative approach to economic development, each service provider brings its own individual set of strengths to the mix, resulting in solutions tailor-made for each business. Some of the area’s major economic development partners include:
The Toledo Regional Chamber of Commerce – The Chamber is host to the Small Business Development Center (SBDC) and Minority Business Assistance Center (MBAC) programs. Both provide a full complement of high-quality (and often-times free) business development services to existing business owners and prospective entrepreneurs alike.
Higher Education – The University of Toledo and Bowling Green State University nurture and support new technology businesses. Both entities have spun off companies using university-licensed and developed technologies. In addition, the University of Toledo offers incubation services for fledgling companies in a number of fields.
The Regional Growth Partnership (RGP) – RGP is a private, nonprofit development corporation dedicated to fostering local, national and international economic growth opportunities for northwest Ohio and southeast Michigan. Through private sector leadership, the RGP provides a full range of traditional business development services to help in the attraction, expansion and retention of companies. It also takes a lead role in marketing the region’s assets both nationally and internationally.
The Toledo-Lucas County Port Authority – The Port Authority offers a mix of innovative financing programs for business projects of all types. Besides being the local administrator of the SBA 504 and State of Ohio 166 loan programs, the organization also offers revenue bonds and infrastructure financing. The Port Authority also recently received a substantial Department of Energy grant that will allow it to help “ramp-up” energy efficiency building retrofits for commercial and industrial facilities across our region.
Lucas County Improvement Corporation (LCIC) – As the economic development agency for Lucas County, the LCIC connects businesses with the opportunities and resources available through the area’s economic development system.
The Northwest Ohio Regional Economic Development Association (NORED) – An affiliation of many of the economic development entities that serve the 12 counties of northwest Ohio, NORED works to market the Toledo Region as a premier location for businesses of all types.