Toledo Region Ranked #5 Manufacturing Hub In U.S.
Posted By: RGP Northwest Ohio on August, 2022. For more information, please click here to read the source article.
Recognizing the historical strength of the Toledo metropolitan workforce and its advancement with new technologies, Business Facilities magazine has ranked the local MSA as the No. 5 Manufacturing Hub in the United States.
The Toledo region’s ranking in the Large Metro category came from Business Facilities magazine’s annual Rankings Report.
The national publication has been a leading location source for corporate site selectors and economic development professionals for more than 50 years.
“This region possesses the very best of the manufacturing mindset because it’s engrained in our workforce and business community. We’re proud to have Business Facilities recognize our region’s success in advanced manufacturing.” – Dean Monske, President and CEO, RGP
Based on the prevalence of manufacturing operations, locations ranked by Business Facilities this year represent a wide swath across the U.S. Factors for rankings include number of establishments, percent of GDP, and recent employment figures. The evaluation included data from the U.S. Departments of Commerce and Labor, along with company site selection announcements from the past 12 months.
“For Manufacturing Hubs – Large Metros, Toledo stands out in the Top 5 in this year’s Annual Ranking Report. The job growth in this sector over the past 12 months reflects a vibrant environment for manufacturers and ancillary businesses. Major investments in 2021 from Toledo regional companies including First Solar and Whirlpool, both global leaders in their respective fields, are two examples of the momentum we’re seeing from this Northwest Ohio area.” – Anne Cosgrove, Editorial Director, Business Facilities
Over the last several years, the Regional Growth Partnership has successfully worked with its economic development partners in building a more diverse industry base. Yet the Toledo/Northwest Ohio region still recognizes and values the traditional manufacturing sector as a critical driver of its economy. In 2021, the RGP and its partners closed 66 projects under the advanced manufacturing umbrella. These projects produced $1.48 billion of investment in Northwest Ohio along with 3,930 new jobs.
Along with a nationally recognized workforce, Northwest Ohio offers manufacturing companies a favorable business climate and multiple logistics resources.
The region has also committed to developing a broad inventory of available sites and spec buildings. Businesses have taken notice of these positive assets and other key measurements including:
- More than 7,000 new jobs and nearly $3 billion of investment last three years
- Lowest taxes in Midwest for capital-intensive manufacturing
- Manufacturing workforce exceeding 130,000
- 500 manufacturing companies in Northwest Ohio
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.
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