A groundbreaking was held in Monclova Township Wednesday, June 5, for the newly branded Legacy Business Park marking a milestone event as it signals the final parcel of developable land within the area that has been known as the Triad Business Park.
Yarder Manufacturing and Mosser hosted the event, breaking ground on Riverfort Drive, east off North Jerome Road. Yarder purchased a 70-acre site with ultimate plans to construct a new headquarters for its manufacturing operations. The company intends to utilize 18 acres for a 100,000 square-foot building, with the remaining acreage available for new development. Mosser is serving as a collaborative partner on the venture, leading the infrastructure and supporting development efforts.
Matt Yarder, executive vice president for the sheet metal fabrication business, said this project will lead to incredible growth for the company while also offering future opportunities for new business, jobs and investment.
“Our business’s core purpose is to give opportunities to hard-working families and individuals – that’s what gets us up in the morning. We also anticipate our project becoming a catalyst for something much bigger than ever imagined – an opportunity for new businesses to thrive on the additional 50 acres.”
– Matt Yarder, Executive Vice President, Yarder Manufacturing
Mosser, one of Ohio’s oldest and most successful contractors, has a deep history establishing quality partnerships in various construction industry disciplines. The company will develop all infrastructure for the 70-acre parcel, including a 1,200-foot extension of Riverfort Drive and construction of a cul-de-sac at the road’s end.
“The project demonstrates what can be possible when you combine our respective strengths, resources, and expertise within public and private realms. The synergy we created will maximize the opportunity for exciting new businesses to join Yarder Manufacturing in relocating to the business park to further drive economic growth for the region. We would like to commend the Yarder Family for their innovative vision that was the impetus for this partnership.”
– Briain Geffe, Mosser President and CEO
With more than 100 years of custom sheet metal fabrication experience, Yarder Manufacturing is deeply rooted in the Northwest Ohio region. The fifth generation Toledo family business serves global OEMs, including Polaris, Schindler and Parker Hannifin. The company employs more than 60 full-time people and has expanded five times since the 1940s at its current Toledo location. But space constraints have limited the company’s ability to expand further, leading to the search for a new location which ended in Monclova Township.
This advanced 100,000 square-foot facility will match Yarder’s expertise with new state-of-the-art equipment, providing the ability to meet increased customer demand. More than $16 million is expected to be invested in the project, with Yarder planning to hire at least 26 new people. Groundbreaking for the Yarder facility is targeted for August, according to Yarder.
Significant to the financing and completion of the project is a $400,000 Roadwork Development Grant through the Ohio Department of Development. Director Lydia Mihalik noted that the development grant is intended to support economic development, which includes infrastructure surrounding new and existing businesses.
“This project is a perfect example of the impact private and public sectors can have when they work together to create opportunities for economic growth. I’m proud that our Roadwork Development Grant supported this effort by enhancing accessibility and making this site more attractive for future investment.”
– Lydia Mihalik, Director of the Ohio Department of Development
In addition to the Roadwork Development Grant, the partnership also received a competitive Transportation Improvement District grant through Ohio Department of Transportation and local support from Monclova Township.
The history of the Triad Business Park goes back nearly 30 years. A joint economic development zone (JEDZ) was created that year on approximately 1,200 acres which enabled the implementation of a tax-sharing agreement with the involved entities – in this case Monclova Township, the city of Maumee and the city of Toledo. The JEDZ ended contentious and intense negotiations between all parties, and the ultimate outcome has resulted in a thriving business park attracting dozens of businesses to the site, bringing new jobs, investment and tax revenue to the region.
The June 5 event marks the completion in the development with the new Legacy Business Park.
The Regional Growth Partnership is the lead economic development organization serving 17 counties in Northwest Ohio. As a private nonprofit development corporation, the RGP is dedicated to fostering regional, national and international business investment opportunities across the region. The RGP serves as Northwest Ohio’s network partner for JobsOhio. Visit www.rgp.org for more information.