media room

  • BOSTON, October 30, 2024 – The Toledo-Lucas County Port Authority is proud to announce it has received the 2024 Lighthouse Award of Excellence in Economic Development for its Innovative Financing Programs – Northwest Ohio Bond Fund, from the American Association of Port Authorities (AAPA) during its annual convention today in Boston.

    "AAPA’s Lighthouse Awards are an exciting opportunity to showcase and celebrate the port industry’s most outstanding innovative projects and steadfast commitment to excellence,” said Cary S. Davis, AAPA president and CEO. “Congratulations to the Toledo-Lucas County Port Authority and all our winners and thank you to everyone involved in this unique privilege."

    The Northwest Ohio Bond Fund has had a tremendous year. In April, S&P Global Ratings (S&P) announced an upgrade to the Bond Fund rating from an “A-” to an “A” investment grade rating with a stable outlook. Key factors contributing to the S&P “A” upgrade include an increased investment in the Bond Fund Reserves, the diversification of projects, and a zero percent default rate to bondholders.

    In addition, the Northwest Ohio Bond Fund has a current reserve-to-loan ratio of 45 percent, made possible by contributions from various public and private stakeholders, as well as a $3 million investment made by the Port Authority in 2022, with an additional $400,000 commitment per year over the next five years, for a total investment of $5 million.

    In May, the Port Authority celebrated its 100th project financed through the Northwest Ohio Bond Fund, which provided $8 million to support Midwest Terminals, operator of the Port of Toledo’s General Cargo Dock, to finance the construction of a liquid transloading facility at the Port of Toledo. This year, the Bond Fund is slated to issue the highest amount of bonds in the program’s history.

    “On behalf of the Toledo-Lucas County Port Authority, we are deeply honored to receive this national recognition for our commitment to drive economic growth through the Northwest Ohio Bond Fund,” said Thomas J. Winston, president and CEO of the Toledo-Lucas County Port Authority. “The success of the program is due to our ability to offer innovative, flexible and low-cost financing opportunities for businesses to invest and reinvest in our region. This Lighthouse Award of Excellence reflects the hard work, vision and dedication of our team as we continue to move our community forward.”

    Since its inception in 1988, the Bond Fund has provided $446 million in direct financing proceeds without a bond default, which has resulted in the creation and retention of over 8,700 jobs. The Port Authority’s Northwest Ohio Bond Fund was the first municipal bond fund established in the state of Ohio and has allowed the Port Authority to finance new business and business expansion throughout the state. Its portfolio includes global companies headquartered in the Toledo region such as Owens Corning, The Andersons, and Dana Holding Corporation. Local and regional projects include financing for Continental Real Estate Companies, Nagle Companies, Keller Logistics Group, and Toledo School for the Arts.

    For more information on the AAPA Lighthouse Awards, please click here.

    About the Northwest Ohio Bond Fund

    The Northwest Ohio Bond Fund is one of several financing programs offered by the Port Authority and provides financing for projects from $2 million to $25 million, and fixed interest rates for the full term of the bonds. The fund typically provides financing for up to 30 years for land, public infrastructure, and (owner-occupied) building projects, as well as financing up to 15 years for equipment. The Bond Fund issues tax-exempt bonds for manufacturing, non-profit 501(c)3, and governmental operations, and taxable bonds for all other private sector businesses.

    The Toledo-Lucas County Port Authority has developed a national reputation for innovative business financing across its multiple programs, assisting with more than 900 economic development projects representing a total investment of more than $2 billion while helping to create and retain more than 21,000 jobs.

  • TOLEDO, Ohio, September 3, 2024 – The Toledo-Lucas County Port Authority is proud to welcome the Ohio Economic Development Association (OEDA) to Toledo as it hosts its 2024 Annual Summit at the Glass City Center from September 4-6. The Summit has been hosted in the Columbus area annually since its inception over 40 years ago and this is the first year the event has moved to another location outside of Central Ohio.

    The Summit, titled “Empowering Growth: Unleashing Ohio’s Innovation Economy in Your Community”, will host engaging sessions, networking opportunities, and informative programs. The event will feature impressive keynote speakers such as Nathan Ohle, President of the International Economic Development Council; the Honorable Yvette McGee Brown, former Ohio State Supreme Court Justice; Lydia Mihalik, Director of the Ohio Department of Development; and Congresswoman Marcy Kaptur, U.S. Representative from Northwest Ohio.

    Thomas J. Winston, President and CEO of the Toledo-Lucas County Port Authority, also serves as the 2024 Chairperson of the OEDA Board of Directors. Mr. Winston and other local stakeholders were instrumental in moving this year’s conference to Toledo during his tenure as Chair of the organization. Planners have worked to ensure that there will be a strong Northwest Ohio feel to this year’s Summit and over 450 people have registered to attend the event, which has far surpassed expectations.

    “Hosting the OEDA 2024 Annual Summit in Toledo represents an incredible opportunity for our community to shine on a larger stage,” said Mr. Winston. “The Northwest Ohio Region has realized many achievements over the past decade, and it is important to showcase those successes, along with the incredible charm, hospitality, and vibrancy that make Toledo special.”

    Representing over 600 public and private sector professionals across the state, OEDA serves to advance the practice of economic development to foster economic growth, prosperity, and opportunity for all residents of the State of Ohio. For more information on the OEDA 2024 Annual Summit, please visit oedaannualsummit.com.

  • TOLEDO, Ohio, May 30, 2024 – The Toledo-Lucas County Port Authority celebrates its 100th project financed through the Northwest Ohio Bond Fund, which has a national rating of “A” from S&P Global Ratings. This 100th project provides $8,000,000 to support Midwest Terminals, operator of the Port of Toledo’s General Cargo Dock, to finance the construction of a liquid transloading facility at the Port of Toledo. Since its inception in 1988, the Bond Fund has provided $446 million in direct financing proceeds, which has resulted in the creation and retention of over 8,700 jobs.

    “We are very proud to announce this milestone project through the Northwest Ohio Bond Fund, and how fitting the 100th project is for our partners at Midwest Terminals,” said Thomas J. Winston, president and CEO of the Toledo-Lucas County Port Authority. “One hundred projects, $446 million in financing, and over 8,700 jobs created and retained is a significant achievement, which illustrates the Port Authority’s commitment to moving this community forward.”

    The Port Authority’s Northwest Ohio Bond Fund was the first municipal bond fund established in the state of Ohio and has allowed the Port Authority to finance new business and business expansion throughout the state. Its portfolio includes global companies headquartered in the Toledo region such as Owens Corning, The Andersons, and Dana Holding Corporation. Local and regional projects include financing for Continental Real Estate Companies, Nagle Companies, Keller Logistics Group, and Toledo School for the Arts. Projects financed outside the region include the Cleveland Cavaliers’ practice facility in Independence, Dublin Bridge Park in Dublin, and The Foundry in downtown Cincinnati.

    “The success of the Northwest Ohio Bond Fund would not be possible without our partnership with Michael DiPerna, president of DiPerna Advisors, who has been a longstanding partner of the Port Authority since the inception of the Bond Fund,” said Mr. Winston. “I would also like to acknowledge and thank our past and present Port Authority Board of Directors for their support of and commitment to invest in this signature program.”

    Last month S&P Global Ratings (S&P) announced an upgrade to the Port Authority’s Bond Fund rating from an “A-” to an “A” investment-grade rating with a stable outlook. Key factors contributing to the upgrade include an increased investment in the Bond Fund Reserves, the diversification of projects, and a zero percent default rate to bondholders.

    In addition, the Bond Fund has a current reserve-to-loan ratio of 45 percent, made possible by contributions from the Ohio Manufacturers Association, JobsOhio, and Lucas County. The Port Authority also recently invested $3 million in 2022, with an additional $400,000 commitment per year for five years, for a total investment of $5 million.

    The Northwest Ohio Bond Fund is one of several financing programs offered by the Port Authority and provides financing for projects from $2 million to $25 million, and fixed interest rates for the full term of the bonds. The fund typically provides financing up to 30 years for land, public infrastructure, and (owner-occupied) building projects, as well as financing up to 15 years for equipment. The Bond Fund issues tax-exempt bonds for manufacturing, non-profit 501(c)3, and governmental operations, and taxable bonds for all other private sector businesses.

    The Toledo-Lucas County Port Authority has developed a national reputation for innovative business financing across its multiple programs, assisting more than 900 economic development projects representing a total investment of more than $2 billion while helping to create and retain more than 21,000 jobs.

  • April 24, 2024 - The Toledo-Lucas County Port Authority recently closed on a $2.8 million bond for the Toledo Young Women’s Christian Association of Northwest Ohio (YWCA). This is the first bond closed since S&P Global Ratings upgraded the Port Authority’s Northwest Ohio Bond Fund in April 2024, from an “A-” to an “A” investment-grade rating with a stable outlook.

    Established in 1870, YWCA provides support to women, girls, and families in the community through social justice advocacy, educational programs, and shelter, including a 24/7 domestic violence shelter and supportive housing for women and children. YWCA utilized the Port’s Northwest Ohio Bond Fund to finance renovations to its existing facility, located at 1018 Jefferson Avenue in Toledo, OH 43604. Renovations will include significant improvements to the building such as roof repair and replacement and additional resident housing. Lucas County and the City of Toledo also contributed funds for this project.

    “The Toledo-Lucas County Port Authority is indeed more than a PORT! It is truly one of the region's leaders in economic development. Not only does it care about rebuilding our community's aging infrastructures, but it plays a vital role in helping entities like the YWCA of Northwest Ohio thrive,” said Lisa McDuffie, President & CEO of the YWCA. “Despite our success with our capital campaign, the rising cost of construction created a funding gap. The Port's Bond program came to our rescue. The expertise of the Port staff educated us on the available funding options and held our hand throughout the entire process. Renovation to our 70-year-old building is officially set to begin. You made our dreams come true. Thank you for being such an asset to our community!”

    The Port Authority’s Northwest Ohio Bond Fund was established in 1988 and has allowed the Port Authority to finance new business and business expansion throughout the state. To date, the Bond Fund has provided over $438 million in bond financing for 99 projects.

    The Northwest Ohio Bond Fund provides project financing from $2 million to $25 million, with fixed interest rates for the full term of the bonds. The Bond Fund typically provides financing for up to 30 years for land, public infrastructure, and (owner-occupied) building projects, and up to 15 years for equipment. The Bond Fund issues tax-exempt bonds for manufacturing, non-profit 501(c)3, and governmental entities, and taxable bonds for all other private sector businesses.

    The Port Authority has developed a national reputation for innovative business financing, assisting more than 900 economic development projects representing a total investment of more than $2 billion while helping to create and retain more than 21,000 jobs. The Northwest Ohio Bond Fund is one of several financing mechanisms available through the Toledo-Lucas County Port Authority.

  • April 15, 2024 - Congratulations to Craig Teamer, DFCP, Director of Finance & Special Projects at the Port Authority, for receiving the prestigious 2024 Business Pacemaker Award!

    The University of Toledo's John B. and Lillian E. Neff College of Business and Innovation recognizes business and academic excellence at its annual Pacemaker Awards, which has been recognizing leaders since 1963. Craig accepted the award at a ceremony held on April 5, 2024.

    In Craig's current role as the Director of Finance & Special Projects for the Port, he works with several of the Port’s innovative financing programs, including the Northwest Ohio Bond Fund (NWOBF), the Diversified Contractors Accelerator Program (DCAP), and the Microenterprise Development Initiative.

    He received his BBA in Finance from The University of Toledo in 1998 and his Executive MBA from Bowling Green State University in 2004. Craig has worked in the corporate finance/banking industry for over 25 years.

    Throughout his career, he served in various roles at notable institutions including The Andersons, Inc., Huntington National Bank, Fifth Third Bank, KeyBank, and Dana Corporation. He currently serves on the Board of Directors for the United Way of Greater Toledo.

    To view the event program, please click here.

    Click here to learn more about the John B. and Lillian E. Neff College of Business and Innovation.

  • April 12, 2024 - Join us for a free webinar on May 1 at 9:00a to learn about Foreign-Trade Zones (FTZs) and how to reduce, defer, or eliminate tariffs on imports

    Presenters will provide an overview of FTZs, area eligibility, benefits/costs, operational savings, high level steps to operate a FTZ, punitive tariffs, and the logistics of imports.

    Register today by emailing kassiec@bgsu.edu.

  • TOLEDO, Ohio, April 1, 2024 – S&P Global Ratings (S&P) recently announced an upgrade to the Toledo-Lucas County Port Authority’s Northwest Ohio Bond Fund rating from an “A-” to an “A” investment-grade rating with a stable outlook.

    “This is the highest rating the Northwest Ohio Bond Fund has received in its 36-year history,” said Thomas J. Winston, President and CEO of the Toledo-Lucas County Port Authority. “This is a significant achievement and a reflection of S&P’s confidence in the staff and board of directors’ decision-making and affirms the continued success and enhancement of the Bond Fund. We anticipate this upgrade will expand the demand of buyers in the capital markets, resulting in a lower cost of capital for businesses to invest in our region.”

    Key factors contributing to the S&P “A” upgrade include an increased investment in the Bond Fund Reserves, the diversification of projects, and a zero percent default rate to bondholders. In addition, the Northwest Ohio Bond Fund has a current reserve-to-loan ratio of 45 percent, made possible by contributions from the Ohio Manufacturers Association, JobsOhio, and Lucas County. The Port Authority also invested $3 million in 2022, with an additional $400,000 commitment per year over the next five years, for a total investment of $5 million.

    The Port Authority’s Northwest Ohio Bond Fund was established in 1988 and has allowed the Port Authority to help finance new business and business expansion throughout the state. To date, the Northwest Ohio Bond Fund has provided over $435 million in bond financing for 98 projects. Its portfolio includes local and regional companies, such as Owens Corning, The Andersons, Continental Real Estate Companies, Dana Holding Corporation, Nagle Companies, and Toledo School for the Arts.

    The Northwest Ohio Bond Fund provides financing for projects from $2 million to $25 million, and fixed interest rates for the full term of the bonds. The fund typically provides financing up to 30 years for land, public infrastructure, and (owner-occupied) building projects, as well as financing up to 15 years for equipment. The Northwest Ohio Bond Fund issues tax-exempt bonds for manufacturing, non-profit 501(c)3, and governmental operations, and taxable bonds for all other private sector businesses.

    The Toledo-Lucas County Port Authority has developed a national reputation for innovative business financing, assisting more than 900 economic development projects representing a total investment of more than $2 billion while helping to create and retain more than 21,000 jobs. The Northwest Ohio Bond Fund is one of several financing mechanisms available through the Toledo-Lucas County Port Authority.

  • March 25, 2024 - Last month, the Port Authority's financing team highlighted the Port's diverse range of funding programs during a presentation at The University of Toledo Business Incubator event.

    This sold-out event provided an opportunity for local and prospective entrepreneurs and business owners to learn how the Port can help start and grow their businesses.

    Financing options include:

    • BetterBuildings Northwest Ohio

    • Conduit Revenue Bonds

    • Fixed Interest Rate Revenue Bonds

    • Infrastructure Financing

    • Northwest Ohio Revolving Loan Fund

    • Ohio Regional 166 Loan Program

    • Toledo Microenterprise Development Initiative

    • U.S. Small Business Administration 504 Loan

    Interested in learning how the Port can help you achieve your business goals? It's time to give us a call! 419-243-8251

  • March 6, 2024 - The Toledo-Lucas County Port Authority released its 2023 annual report! Click the link below to read it!

    https://www.flipsnack.com/ABEFED88B7A/tlcpa-2024-annual-report/full-view.html

  • February 15, 2024 - In our continued celebration of Black History Month, we recognize the Tuskegee Airmen - the first African American military aviators in the U.S. Army Air Corps.

    The Tuskegee Airmen flew more than 15,000 individual sorties during World War II, which earned them more than 150 Distinguished Flying Crosses and encouraged the integration of the U.S. armed forces.

    In 2015, the Port Authority hosted a Red Tail Squadron Event at the Eugene F. Kranz Toledo Express Airport. The event is dedicated to educating audiences across the country about the history and legacy of the Tuskegee Airmen.

    At the event, we were joined by the late Dr. Harold Brown and the late Lt. Col. Alexander Jefferson. We honor their lives, achievements, and contributions made not only to our country, but to the advancement of African Americans in the aviation industry.

    We recognize Dr. Harold H. Brown (August 19, 1924 – January 12, 2023), former U.S. Army Air Force officer with the Tuskegee Airmen and resident of Port Clinton, Ohio.

    Brown was born in Minneapolis, Minnesota and developed a passion for aviation at a young age. After graduating high school, he applied to and was accepted to the Tuskegee Institute for flight training. He graduated from the school as a 2nd Lieutenant at just 19 years old.

    Brown served in World War II and the Korean War. In 1944, he and 32 other Airmen were captured in Germany for eight months. Ultimately, he retired from the Air Force in 1965. He later attended the Ohio State University and earned a Doctorate in Education in mathematics. He also published a memoir, Keep Your Airspeed Up: The Story of a Tuskegee Airman, in 2017.

    We also recognize Lt. Col. Alexander Jefferson (November 15, 1921- June 22, 2022), who served as a Tuskegee Airman in World War II.

    Jefferson was born in Detroit, MI, and joined the United States Army Reserves in 1942. In April 1943, he began flight training at the Tuskegee Army Airfield and graduated as a second lieutenant in 1944. Jefferson flew eighteen missions during World War II before being captured alongside Dr. Brown.

    Jefferson retired in 1947 and soon after received his teaching certificate from Wayne State University. He worked in the Michigan School System for over 30 years in various roles.

    Learn more in the video below.

    https://www.youtube.com/watch?v=eRI_4TU7bII

  • January 18, 2024 - Select Stone Company, LLC, established in 1987, provides high quality, custom cut decorative stone and supply for residential and commercial construction projects. The company has a wide variety of man-made and natural stone options available for landscaping, building, water garden, and masonry projects. In addition, Select Stone Company operates an online store selling supplies for ponds as well as decorative landscape items.

    Select Stone Company recently received an $87,500 loan through the Port Authority’s Northwest Ohio Revolving Loan Fund to purchase a new bridge saw, the fourth in its fleet. Farmers & Merchants State Bank also provided funding to assist with the cost of the new saw.

    Two of the company’s current bridge saws are nearly 20 years old, and the new saw will allow for automation, eliminate potential safety issues, and provide an overall increase in productivity. Select Stone Company currently has 20 employees and is expecting to hire five new employees to accommodate the anticipated growth.

    Click here for more information on Select Stone Company, LLC.

2024

  • TOLEDO, Ohio, November 15, 2023 – Eugene F. Kranz Toledo Express Airport (TOL) becomes the first airport in the country to receive the Certified Autism Center™ (CAC) designation. The International Board of Credentialing and Continuing Education Standards (IBCCES) grants this prestigious credential to organizations that prove their ongoing commitment to creating an environment that welcomes, includes, and accommodates autistic and sensory-sensitive individuals. To become a CAC, the airport team completed a comprehensive training and certification process to ensure they are equipped with the skills, resources and understanding of the best practices for accommodating autistic and sensory-sensitive travelers and their families.

    “We are proud to be the first airport in the country to receive a Certified Autism Center™ designation for Eugene F. Kranz Toledo Express Airport, which is part of Destination Toledo’s vision of making Toledo a Certified Autism Destination,” says Tim O’Donnell, Airport Director for the Toledo-Lucas County Port Authority. “The airport is an important asset in our region that should be equally accessible to every member of our community. Our already established AccessTOL program continues to provide an interactive, hands-on experience to future passengers to familiarize and introduce them to the airport in a way that aims to help them feel more comfortable and empowered to travel, and this designation will only improve that program.”

    Toledo Express hosts multiple AccessTOL Airport Experience Events throughout the year to provide those who might need additional support or assistance with the experience of traveling through an airport and identifying potential challenges they may encounter. At the event, individuals will learn how to visit the ticket counter to receive a boarding pass, get screened through TSA, check-in at the gate, walk through the jet bridge and retrieve a bag at baggage claim. TOL’s website includes a website ADA compliance subscription, called AccessiBe, which offers website features such as seizure safe, vision impaired, ADHD friendly and screen readers.

    By completing the CAC program, TOL joins the greater Destination Toledo initiative to achieve the Certified Autism Destination™ (CAD) designation, which IBCCES awards to communities with a multitude of trained and certified lodging, recreation, and entertainment options. Other organizations that have completed the CAC program as part of this initiative include Destination Toledo, Valentine Theatre, Sylvania Chamber, Avenues for Autism, Boyds Retro Candy, Wingate by Wyndham Sylvania/Toledo, Toledo Speedway BMX, and Toledo Museum of Art, with many organizations in the area in the process of completion.

    The completion of the CAC designation at the Eugene F. Kranz Toledo Express Airport and the success of the AccessTOL program would not have been possible without the participation of several partners, including Destination Toledo, Avis/Budget, Enterprise, Choice Aviation (Allegiant ground handling), Transportation Security Administration, Avenues for Autism, and the Autism Society of Northwest Ohio.

    “Having the first airport in the country to become a Certified Autism Center not only speaks to Toledo’s efforts to be a welcoming and inclusive destination for all travelers, but helps fill a need for the 1 in 6 people with sensory needs, a significant community of underserved travelers that we welcome with open arms in Toledo,” said Lance Woodworth, President and CEO of Destination Toledo.

    “Toledo Express Airport’s decision to become autism certified is very admirable,” says Myron Pincomb, IBCCES board chairman. “By becoming a CAC, TOL is proving how much they care for every traveler that visits the airport. This is a huge step in creating travel options that are accessible for all people, regardless of their unique needs, and we hope that this will set a new precedent for other airports to follow suit.”

    IBCCES has been the leader in cognitive disorder training and certification for healthcare, education, and corporate professionals around the globe for more than 20 years. IBCCES is the only global credentialing board providing travel and entertainment organizations with training and certification from subject-matter experts and autistic self-advocates, and other resources, as well as long-term support that helps them understand how to better accommodate and assist autistic or sensory-sensitive visitors and their families.

    IBCCES also created AutismTravel.com, a free online resource for families that lists certified destinations and connects families to other resources and each other. Each destination listed on the site has met the Certified Autism Center™ (CAC) requirements.

    ###

    About Eugene F. Kranz Toledo Express Airport

    The Eugene F. Kranz Toledo Express Airport (TOL), owned by the City of Toledo, has been managed by the Toledo-Lucas County Port Authority since 1973. TOL offers nonstop service to Phoenix-Mesa, Arizona, and Orlando Sanford, Ft. Myers/Punta Gorda and St. Pete-Clearwater, Florida, via Allegiant. TOL is home to over 20 on-airport businesses including the 180th Fighter Wing Ohio National Guard, and an Amazon Air Toledo Gateway. Various corporate hangers, aircraft maintenance facilities, fixed-based operators, and air cargo operations are located at TOL. Toledo Public Schools’ Aerospace & Natural Science Academy of Toledo and the Federal Aerospace Institute adult aircraft maintenance technician school are both located at the airport, making Toledo a leader in aviation education.

    About IBCCES

    Committed to providing The Global Standard For Training and Certification in The Field of Cognitive Disorders – IBCCES provides a series of certifications that empower professionals to be leaders in their field and improve the outcomes for the individuals they serve. These programs are recognized around the world as the leading benchmark for training and certification in the areas of autism and other cognitive disorders.

  • TOLEDO, Ohio, October 27, 2023 – On Sunday, October 22, 2023, UNIFOR, the unionized workers of Canada’s St. Lawrence Seaway Management Corporation (SLSMC), went on strike, resulting in the closure of the Canadian portions of the St. Lawrence Seaway. The Seaway is a system of canals, locks, and channels in Canada and the United States, and a closure to any portion of the System results in a full shutdown of the entire waterway.

    The Toledo-Lucas County Port Authority oversees operations of the Port of Toledo, which is located at the western basin of Lake Erie and is one of the largest landmass U.S. seaports on the Great Lakes. The Port of Toledo supports nearly 8,000 jobs and has an economic contribution of over $900 million to our local economy.

    In 2022, a total of 11,684,394 short tons of cargo traveled through the Port of Toledo – the highest tonnage the seaport has seen since 2007. Access to international waters contributes to these numbers. The shutdown of the Canadian portions of the St. Lawrence Seaway has considerable economic consequences for the Port of Toledo, the City of Toledo, and the entire State of Ohio.

    “This situation has affected all Great Lakes Ports by closing access to international waters,” said Thomas J. Winston, President and CEO of the Toledo-Lucas County Port Authority. “With the peak harvest season upon us, grain shipments from the Port of Toledo are ready to be exported into international waters to feed the world. The Toledo-Lucas County Port Authority calls on both parties to resolve this conflict quickly to prevent both immediate and long-lasting impacts on not only the Port of Toledo, but the entire global economy.”

    The Toledo-Lucas County Port Authority joins many other St. Lawrence Seaway System stakeholders to urge the Canadian Government to help facilitate a resolution of this labor dispute and reopen the St. Lawrence Seaway.

  • TOLEDO, Ohio, August 10, 2023 – The Toledo-Lucas County Port Authority is pleased to share the results of the Economic Impacts of Maritime Shipping in the Port of Toledo, a report documenting the many contributions made by the Port of Toledo and Great Lakes Seaway Shipping to the City of Toledo, Lucas County, State of Ohio, and the Great Lakes region.

    The study reports that in 2022, the Port of Toledo and maritime commerce supported:

    7,971 jobs

    $906.2 million in economic activity

    $708.6 million in personal income and local consumption expenditures

    $183.2 million in federal and state/local tax revenue

    “The Toledo-Lucas County Port Authority had an excellent year in 2022,” says Thomas J. Winston, President and CEO of the Toledo-Lucas County Port Authority. “The results from this year’s study indicate an increase of 888 new jobs and more than $237 million in additional economic activity compared to data reported in the 2018 study. This increase can be mostly contributed to the addition of the Cleveland-Cliffs Toledo Direct Reduction Plant at Ironville in East Toledo.”

    Last month, the Economic Impacts of Maritime Shipping in the Great Lakes-St. Lawrence Region, a year-long study of the economic impacts of the entire Great Lakes-St. Lawrence Seaway navigation system was released. The Study revealed that Great Lakes-St. Lawrence Seaway shipping is a key driver of the economy, supporting $36 billion in economic activity and more than 240,000 jobs. In 2022, 135.7 million metric tons of raw materials and finished goods were delivered by commercial vessels serving critical industries such as agriculture, construction, energy, and steelmaking.

    To view the Economic Impacts of Maritime Shipping in the Port of Toledo full report, please click here.

    To view the Economic Impacts of Maritime Shipping in the Great Lakes-St. Lawrence Region full report, please click here.

    Both studies, compiled from 2022 data, were conducted by economic consultants Martin Associates of Lancaster, Pennsylvania, a global leader in transportation economic analysis and strategic planning. Martin Associates was retained to perform the Great Lakes-St. Lawrence Seaway analysis by a coalition of U.S. and Canadian Great Lakes and St. Lawrence marine industry stakeholders, including the Saint Lawrence Seaway Development Corporation, the St. Lawrence Seaway Management Corporation, the American Great Lakes Ports Association, the Chamber of Marine Commerce, the Lake Carriers’ Association, and the Shipping Federation of Canada.

  • TOLEDO, Ohio, January 26, 2023 – The Toledo-Lucas County Port Authority provided over $88 million in financing during 2022 to various organizations across the region through its multiple financing programs, resulting in the creation of over 800 new jobs. The Port Authority’s Northwest Ohio Bond Fund (NWOBF) saw a record year with the issuance of $38 million across five separate projects. Additionally, eight U.S. Small Business Administration (SBA) 504 Loans were approved and/or closed totaling $6.375 million, and five Ohio Regional 166 Loans were approved and/or closed totaling $4.1 million. Both the SBA 504 and Ohio Regional 166 programs are managed and administered through the Port Authority Financing Program offerings.

    “The Port Authority is proud to be a financial asset serving local businesses throughout our region,” said Thomas J. Winston, President and CEO of the Toledo-Lucas County Port Authority. “Supporting businesses of any size with creative financing solutions, and watching these projects come to fruition, is a very rewarding part of our job. We are excited to see what new opportunities come forward in the new year.”

    In November, the Port Authority participated in the groundbreaking of a full-service climbing center for Adventus Climbing, who utilized the Small Business Administration’s 504 Loan Program to secure $1,175,000 in loans to assist with the construction and equipment for a new facility, located at 2900 N. Reynolds Road, in Toledo, OH. Adventus Climbing will be a great addition to our community, serving climbers of all ages, backgrounds, and skill levels.

    “As one of our financing partners, the Toledo-Lucas County Port Authority provided resources that were critical to our project getting activated,” said Rachel Hobson, Co-Founder, Team Leader for Adventus. “Jason [Loan Programs Manager for the Port Authority] has been committed to helping our team find funding solutions while educating us on SBA guidelines and requirements. It has truly been a pleasure to work with their team.”

    The Port Authority’s NWOBF promotes economic development, including the creation of new investment and private and public sector jobs in the Northwest Ohio region. The NWOBF, which has an investment grade rating of “A-” from Standard & Poor’s, is designed to provide private companies and public entities access to fixed, investment grade interest rates in the national capital markets.

    In April, the Port Authority Board of Directors authorized the issuance of up to $5 million in tax-exempt revenue bonds through the NWOBF to the Toledo School for the Arts to finance a portion of the costs of renovating their existing 90,000 sq. ft. building in downtown Toledo, including adding additional classrooms and studio spaces. Toledo School for the Arts is a three-time recipient of the Port Authority’s financial offerings.

    “The Port Authority’s financing was critical to complete TSA’s Next Big Thing Capital Campaign and construction project,” said Rob Koenig, Interim Director for Toledo School for the Arts. “We were able to obtain a financing package that provided a low interest rate along with a reasonable length of time to repay the bonds. Throughout the process, we felt that everyone from the Port involved was motivated to provide the best possible outcome for the school. We are extremely grateful to the Port staff shepherding us through the process to achieve a great result.”

    In 2022, the Port Authority issued its eighth energy bond through the NWOBF, the proceeds of which were used to finance various projects totaling over $6 million through the Port’s BetterBuildings Northwest Ohio (BBNWO) energy efficiency program.

    One of these projects was the financing of energy efficient upgrades to the new headquarters of JAM Best One Fleet Services. The company acquired a new building on Lewis Avenue in Toledo, where it will relocate to accommodate the growing business. JAM Best One Fleet Services utilized the BBNWO program to finance energy efficient upgrades to the facility, including roofing upgrades, LED lighting, and a natural gas and electricity supplier switch. It is anticipated these upgrades will result in $149,093 in annual energy savings. JAM Best One Fleet Services also utilized the Ohio Regional 166 Loan program for their equipment financing needs.

    ABOUT OUR FINANCING PROGRAMS

    The Toledo-Lucas County Port Authority has developed a national reputation for innovative business financing, assisting over 600 economic development projects representing a total investment of more than $2 billion, while helping to create and retain over 20,000 jobs. Financing options include Development Revenue Bonds, Conduit Revenue Bonds, the Ohio Regional 166 Loan Program, the U.S. Small Business Administration 504 Loan Program, the Northwest Ohio Revolving Loan Fund, and the BetterBuildings Northwest Ohio Energy Efficiency Loan Program. For more information on these programs, visit toledoport.org.

  • TOLEDO, Ohio, January 24, 2023 – The Toledo-Lucas County Port Authority is proud to announce a 2.24 percent increase in tonnage through the Port of Toledo in 2022, when compared to 2021. A total of 11,684,394 short tons traveled through the Port of Toledo last year – the highest tonnage the seaport has seen since 2007. The Port set a record for aluminum handled at the General Cargo Dock, operated by Midwest Terminals, and grain had the strongest year-over-year growth with an increase of 14.79 percent over 2021. 2022 was also the first full operating season for the Cleveland-Cliffs’ Toledo Direct Reduction Plant, driving iron ore tonnage up nearly five percent from the previous year.

    The Port Authority invested heavily in infrastructure in 2022. At the General Cargo Dock, over $5 million in repair work has been completed on the dock wall. An additional $10.6 million of work is in progress, which is being funded through the U.S. Maritime Administration’s Port Infrastructure Development Program and the Ohio Department of Transportation’s Maritime Assistance Program.

    At the Toledo Shipyard, $640,000 was invested to stabilize a retaining wall and construct pads for the shipyard’s offroad crane to service the dry docks. The Port has also received $9 million from the Ohio Environmental Protection Agency to create additional capacity at the Port Authority’s storage and reuse facility for dredged material. These improvements will provide the Port Authority with 20 years of storage capacity for dredged material.

    About the Port of Toledo

    The Great Lakes St. Lawrence Seaway System marine shipping industry supports nearly 238,000 jobs in the U.S. and Canada and generates $35 billion in economic activity. The System moves 143.5 million in metric tons of cargo annually. The Port of Toledo supports $669 million in economic activity and more than 7,000 jobs in our region.

2023

For Media Inquiries, Contact:

Holly Kemler, Director of Communications | hkemler@toledoport.org

Kayla Cunningham, Communications Manager | kcunningham@toledoport.org