TOLEDO, OH (Toledo News Now) - Business is booming in Toledo, according to Site Selection Magazine. The Glass City ranked seventh for business development on the magazine's national list.
GT Technologies, Faurecia Automotive Supplier, and Tireman Auto are just some of the local projects that helped Toledo finish in the top ten for Site Selection Magazine's business development nation-wide ranking.
The annual competition tracks where companies are taking their investments and expansions. In order to make the list there had to have been at least a $1 million investment made and at least 20 new jobs created in the city.
Site Selection said Toledo is doing a great job thinking regionally and nationally.
Mayor Paula Hicks-Hudson says the city's economic development division is working hard to create opportunities for the citizens of Toledo.
"Our team is working on a number of projects, both big and small, to continue that economic momentum that we have. You know with ProMedica coming downtown there's going to be a need for us to help other businesses to locate around, to be that secondary supplier to them. So yeah, we're working to make the environment such that folks will want to invest in the city," said Mayor Hicks-Hudson. "It's a benefit that all of our citizens can reap from, so I'm really happy about it."
While Toledo did not make the list in 2013, the city's economic development team is hoping upcoming projects like ProMedica, Chrysler, Hensville, and Lathrop will give the city a good ranking again in 2015.