Why Invest in Toledo?
Data provided by: Toledo Area Connect
Perhaps Toledo has fallen on hard times in recent years.
But, I see a BIG comeback coming.
The population has actually increased last year for the first time in many years.
There are many good sources of employment.
And (obviously) I see Toledo as a very good rental market.
Real Estate Billionaire on David Letterman 10/26/12
I love Ohio…my father and i did our first job there…
Multi-Billionaire and Largest Land Owner in USA- Fortune magazine 10/08/12
to me, one of the safest places you can invest your money is in productive land.
The city of Toledo currently has a population of 313,619, however the region encompasses over 600,000 people and is projected to grow in the upcoming year for the first time in several years!
Toledo’s Mean Income:
As reported in the 2010 Census, the median income for a household in the city of Toledo – excluding the surrounding suburbs – was $32,546 annually. The median income for a family was $41,175.
With an estimated 65,000 rental units in the metro area, rental housing represents a major piece of the Toledo Economy. Rents, averaging $566 monthly, bring in more than $35 million annually!
Toledo’s Housing Statistics:
Average household size of owner-occupied units 2.5
Average household size of renter-occupied units 2.19
2012 Improvements in the Toledo Real Estate Market:
Based on Sales of single family homes in entire MLS
Toledo’s Local Employers:
Click on any of the business names below to be directed to the company websites.
New Companies in Toledo:
The most exciting addition to Toledo as of recently is the May 2012 opening of Hollywood Casino right on the outskirts of Toledo in the town of Rossford. Penn National Gaming is responsible for the casino that features over 2,000 slots, 60 table games, poker room, fine dining, and more! In opening the facility, hundreds of local jobs were created.
Largest Public Companies in the Toledo, Ohio metropolitan area:
Owens-Illinois* : #322 in the Fortune 1000
Dana: #398 in the Fortune 1000
Owens Corning*: #432 in the Fortune 1000
Anderson’s Inc.: #617 in the Fortune 1000
Largest Privately Held Companies in the Toledo Metro Area:
Largest Subsidiaries based in the Toledo Metro Area:
*: These are glass companies, which is why Toledo is known as the Glass City. These companies make everything from drinking glasses, to fiberglass, to car windshields to skyscraper windows back to drinking bottles! These were started by some of Toledo’s founding fathers. One reason that they located here is the abundance of sand needed for glass making.
Other Local Businesses:
We also have a large presence of automotive related businesses in the city with four major manufacturing plants in the area. For example, all Jeep Wranglers ever made in the history of the product have been made here in Toledo. We’re the home of Jeep! The Jeep plant is currently adding 1100 jobs. Another example is General Motor’s hydromatic transmission plant adding over 400 jobs recently.
Our most exciting recent development has been in the solar industry. We have First Solar’s only plant for the company with industry sales in the billions! We have a large number of other solar companies as well which sprung from another glass pioneer that has perfected the solar panels.
We are also a major center for higher education. Our University of Toledo is located within the city and has a student population of over 23,000 and employees of more than 5,000. Our office is located within a mile of UT’s Medical Center.
Top 10 Manufacturers Hiring:
1. First Solar
2. Owens Corning
4. Cooper Tire & Rubber Company
5. Owens- Illinois
8. Dana Limited
9. Johns Manville
10. Johnson Controls
Top 5 Manufacturers Occupations:
1. Architectural & Engineering
4. Computer & Mathematical
5. Installation, Maintenance, and Repair
Top 10 Corporations Hiring:
2. Pizza Hut
3. Dollar General
4. ProMedica Flower Hospital
5. ProMedica St. Luke’s Hospital
6. ProMedica Bay Park Community Hospital
7. University of Toledo
8. Blanchard Valley Health System
* from Toledo Biz Paper
* from Toledo Biz paper
January 16, 2013: Rise in Ohio home sales, prices could lead nation – From Toledo Blade:
COLUMBUS _ Home sales and prices in Ohio should increase more than in the nation as a whole this year, a national economist told a group of rel estate agents Monday. Lawrence Yun, the chief economist with the National Association of Realtors, delivered his bullish forecast wot more than 200 agents gathered at the Ohio Association of Realtors, delivered his bullish forecast to more than 200 agents gathered at the Ohio Association of Realtors’ winter conference in Columbus.Mr. Yun predicted that home values could rise 15 percent and home sales will rise more than 20 percent during the next three years across the nation. Ohio, however, is poised for a stronger showing because it has so far lagged behind the nation’s recovery, he said.
Toledo Blade Articles of Interest:
- Ohioans Given Chance to Catch Up on Taxes- Jon Chavez – April 21, 2012
- Toledo Museum to be Sole U.S. Venue for Manet Exhibit - Tahree Lane – April 27, 2012
- Roses Get Green Light for Reality TV Show - Jon Chavez – March 23, 2012
- Home Sales in Lucas Co. Fall in March, Up for Quarter- Jon Chavez – April 11, 2012
- Joblessness in Ohio Falls to 7.5% for March - Blade Staff and News Services - April 21, 2012
- Toledo Home Sales Show Gains – Kris Turner – May 23, 2012
- Home Prices Rise in Most Major U.S. Cities for First Time Since Last August – Associated Press – May 29, 2012
- UAW predicts total of 1,400 new Jeep jobs - Tyrel Linkhorn – June 29, 2012
- Homes in Area Sell Faster in June – Kris Turner – Jul 18, 2012
- Toledo-Area Home Sales Leap 17.6% In June – Kris Turner – Jul 20, 2012
- Residential vacancies decline in metro area – Kris Turner – Jul 25, 2012
- Area housing-market recovery gains steam – Tyrel Linkhorn – August 25, 2012
- VA shows off new clinic; S. Toledo outpatient facility to open next month – Kate Giammarise – August 30, 2012
- Improved rail, truck facility spurs growth – David Patch – August 30, 2012
- President returns to Toledo for Labor Day – Tom Troy – September 3, 2012
- Chinese community leader promotes Toledo as global city – Liyan Chen – September 3, 2012
- Natural-gas-fired power plant planned on 30 acres in Oregon – Tyrel Linkhorn – September 6, 2012
- President fights back during rally in Toledo – Tom Troy & Ignazio Messina – September 4, 2012
- Chinese professionals come to Toledo for jobs – Liyan Chen – September 4, 2012
- Top credit agencies rate Toledo as stable – Ignazio Messina – September 14, 2012
- Lucas County jobless rate lowest since ’08 – Blade Staff – September 25, 2012
- Tours showcase area for Chinese investors – Jon Chavez – September 27, 2012
- Calphalon starts new shipping center – Tyril Linkhorn – October 6, 2012
- Why are the Chinese Investing in Toledo? – Grahm Webster – June 20, 2012
- Unemployment Rates Trending Down in the Region – Blade Staff – November 21, 2012
- Buying Foreclosures with Retirement Funds: 3 Strategies - David Blomquist – November 30,2012