Department of Economic Development

The Economic Development Department implements programs and provides services to create employment opportunities through retention and growth of existing businesses and the attraction of new businesses. 

In 2025 the Economic Development Department will focus on supporting and catalyzing private sector investment and investment in historically disinvested communities throughout the Vibrancy Initiative, enhancing business retention and expansion with the addition of the Legacy Corridor Business Resilience Grant Program and a new Economic Development Specialist position, and attracting new business through the Toledo Expansion Incentive Program.

The department aligns its goals with the city's strategic priorities to increase job creation and retention, and enhance neighborhood quality.

The Department of Economic Development's primary goal is to build a more resilient and prosperous community to grow Toledo’s tax base. By supporting business startups, expansions, and attracting new investments, the department helps create higher-paying job opportunities, fosters economic equity in historically disinvested areas, and ensures vibrant, active commercial corridors across the city. 

2024 has been an exciting year for the Economic Development Department. In June, the Ohio Economic Development Association hosted their annual summit for the first time outside of Columbus and Director Sehlhorst was awarded the Economic Developer of the Year award.

In 2024, the department has several large-scale projects that have progressed in 2024 and will continue in the years to come. 

The Vibrancy Initiative awarded 18 projects that will attract 7 businesses, support 11 existing businesses and activate 132,968 sq. ft. of formerly vacant commercial space. The city's $835,000 investment was able to leverage $21,633,060 of private sector investment.

The Four Corners project was awarded $20 million in historic tax credits, and the city was able to leverage $5.3 million in grant funding to remediate the buildings. The department also finalized a streetscape plan for the Huron and Madison corridors which will strengthen the city's ability to secure future federal and state grants. These projects will leverage over $225 million of private sector investment in Toledo. 

In late 2024, the department partnered with Tetra Tech and began public engagement to move forward on the design for the Toledo Social Innovation District which was awarded a $20 million Rebuilding American Infrastructure with Sustainability and Equity grant in 2023.

The Toledo Trade Center and Toledo's designation from Governor Dewine as the first innovation hub in the state promises to bring approximately 2,100 new jobs and nearly $300 million in wages and other capital to the city.

To enhance the experience for both out of town and local visitors to Toledo's downtown, the department has partnered with ConnecToledo to help fund Comprehensive Wayfinding Plan and has added parklets to expand capacity for two small businesses.

In partnership with the Lucas County Land Bank, the department received $11.5 million for brownfield redevelopment strategy to support the development of eight sites in Toledo.

The department also launched the Legacy Corridor Business Resilience Grant Program with $100,000 budget allocation to support local businesses impacted by major roadway construction projects.

General Fund: personnel, service, supplies

Hawthorne Hill TIF Fund: operating transfers

Funding for non-personnel expenditures totals $2,462,004 and supports costs for property tax payments and business incentive payments, the Vibrancy Initiative and the Legacy Corridor Micro-Grant Program.

The Economic Development Department has 6.75 FTEs and does not plan to add any new positions in 2025.

If additional funding becomes available, the Department of Economic Development is committed to expanding the Vibrancy Initiative, which currently includes the Façade and White Box Grant and Community Reinvestment Area programs. These programs address critical challenges related to getting buildings tenant-ready.

The department’s next focus is launching the Storefront Microenterprise Assistance Loan (SMAL) pilot program. This program would offer forgivable loans to businesses looking to establish a storefront presence in the City, covering essential expenses like improvements, machinery, and equipment. SMAL would also feature a robust technical assistance component in partnership with the Business Empowerment Alliance of Toledo (BEAT) to support new storefronts in achieving sustainable success.