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FOR MORE INFORMATION CONTACT: FOR IMMEDIATE RELEASE
John Gibney July 30, 2008
Regional Growth Partnership
Phone: 419/252-2700 x314
TOLEDO, Ohio – While much of the nation suffers through a downturn in the automotive industry, the Toledo region stands out as one of the few to experience investment and growth, according to a national publication.
Business Development Outlook magazine has ranked Toledo third among its top 10 cities for automotive growth. The state of Ohio placed second in a ranking of top states in the automotive industry.
The publication recognized Toledo and other leading cities from the rankings for their innovation and ability to respond to competitive global changes, creating an environment that would stimulate growth.
“The automotive manufacturing industry in many cities and states decreased significantly over the past year, but some cities achieved growth even in this downward current,” said Edward Smith of BDO magazine. “It took many of them the intentional employing of preconceived tactics to create the environment that would stimulate growth.”
The magazine highlighted GM-Powertrain, which invested nearly $900 million over a two-year period to build a 6-speed rear wheel drive transmission and a 6-speed front wheel drive. The investment also included a 400,000 square-foot addition.
“This facility has been an integral part of the Toledo community for 91 years,” plant manager Joe Choate was quoted as saying. “Our strong partnership with the UAW and Local 14 resulted in a unique work agreement that will help usher in an era of new competitively produced, world-class six-speed transmissions.”
Other major automotive projects for the Toledo region in 2007 included Okamoto Industries in Sandusky, which invested $3.5 million and created 120 new jobs, and Rieter Automotive in Oregon, which produced 80 new jobs and $6 million in capital investment.
“The successes for our region in the automotive industry come as no surprise because our workforce has committed to becoming highly skilled, trained and educated, while the companies have become more innovative in their programs and initiatives,” said Steve Weathers, president and CEO of the Regional Growth Partnership.
The Regional Growth Partnership is a private nonprofit development corporation dedicated to fostering local, national and international economic growth opportunities for northwest Ohio.
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