RGP President and CEO Dean Monske recently appeared on 13 abc’s Conklin & Company touting 2016 as a record year for economic development activity in Northwest Ohio.
That success is not limited to this part of the state. JobsOhio, the private economic development group leading efforts across Ohio, reported more than 20,000 new jobs in 2016 with nearly $1 billion in new payroll. Capital investment last year in the state exceeded $4.6 billion.
Moving through 2017, the RGP also points to the current level of activity in its business development pipeline. The latest report shows the RGP and regional partners working on 96 projects which offer the potential of more than 12,000 new jobs with $14 billion of capital investment.
“While all of these projects won’t happen within our region, we feel pretty strong about where we are headed this year and into 2018,” said Monske.
Regional indicators also identify mounting growth, particularly in downtown Toledo. A recent story in the Toledo Blade noted the vacancy rate for office space in downtown dropping nearly 10 percent since 2014.
Sam Zyndorf of Signature Associates was quoted in the article, “There’s been more action downtown in the past three years than the previous 28.”
Many credit ProMedica’s decision to move its corporate headquarters downtown, and at least 1,000 jobs, as a major catalyst for further development. A conservative analysis recently estimated approximately $337 million of investment in downtown Toledo in just the past couple of years.