Business closures leave Northwood with budget deficit - News, Weather, Sports, Toledo, OH

Business closures leave Northwood with budget deficit

NORTHWOOD, OH (Toledo News Now) - The city of Northwood is facing a big budget deficit after two businesses recently closed.

First, The Andersons announced its Northwood location would be closing.  Then just a few days later a strike sent Hostess into liquidation, closing the companies Northwood production facility.

City Administrator Bob Anderson estimates the shut downs will cost the city about $160,000 per year.

"There's been a couple proposals about hiring some new employees for the road department, expanding some fire and EMS services that we're going to have to put off for a little while," said Anderson.

Although the city may not be hiring again anytime soon, Anderson says current staffing levels should be maintained despite the deficit. He expects those businesses could be purchase and reopened in the near future.

"I think in the spring, the future looks bright for the city, however, for the next few months we're going to have to hold our breath and really watch our revenue and watch our money," said Anderson.

A revised budget will be presented at a Northwood Finance Committee meeting Monday at 6:30 p.m.

Copyright 2012 Toledo News Now. All rights reserved.

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