Toledo Port Expansion

Toledo,
OH
(2012)

Toledo Port Expansion

Infrastructure, Transportation and Ports

Finance Fund provided NMTC financing to Ironville Improvement, LLC., a subsidiary of Midwest Terminals of Toledo, Inc. for expansion of the Port of Toledo’s Midwest terminals.

Investment

NMTC Amount: $14,916,000
Total Project Cost: $15,810,826

IMPACT

40 FTE jobs
160 construction jobs

CDEs

Finance Fund, PNC

Investor

PNC

Project Description

Finance Fund has awarded a total of $15.36 million in federal and state NMTC financing to Ironville Improvement, LLC., a subsidiary of Midwest Terminals of Toledo, Inc. for expansion of the Port of Toledo’s Midwest terminals. The expansion creates 40 permanent full-time jobs and 160 construction jobs in an area where unemployment is approaching 13%. The new construction project is located in a low-income census tract with a 17% poverty rate.

The Ironville site is owned by the Toledo-Lucas County Port Authority (TLCPA), and operated by Midwest Terminals of Toledo, Inc. TLCPA provided a $10.2 million loan, and PNC New Markets Investment Partners, LLC, the investor, provided an additional $2.5 million in federal allocation. The financing enables MTTI to build a rail system and infrastructure, upgrade the dock face with sheet tile, purchase and install a material handling system, and make land improvements.

MAP

Address: 2863 Front Street, Toledo, OH 43605

Census Tract: 39095004600

PDF Profile

Site Visits

Rep. Kaptur Attends Ribbon Cutting at Cleveland Cliffs

Rep. Marcy Kaptur, Cleveland-Cliffs CEO Lourenco Goncalves, Gov. Mike DeWine and Mayor Wade Kapszukiewicz join Direct Reduction plant workers to cut a ribbon commemorating six months of operations. .

Learn more...

Jun-2021

Other Ohio Projects

East Ohio Gas

Cleveland,
OH
(2013)

Community, Historic Rehabilitation, Housing, Mixed-use, Mixed-use and Commercial, Retail

CDE(s): Cleveland Development Advisors, Grow America, PNC

Finaning for a 350,000 sq. ft. mixed use project with a residential and retail component.

Dunnhumby Centre, 5th & Race Streets

Cincinnati,
OH
(2013)

Transportation and Ports

CDE(s): Cincinnati New Markets Fund (3CDC), PNC

Owner/operator of parking garage in step with economic redevelopment mission of its parent, 3CDC: The January 2013 groundbreaking event for this monumental project at the corner of Fifth & Race

Homefull

Dayton,
OH
(2023)

Nonprofit Hub

CDE(s): Dayton Region New Markets Fund, PNC

A $50 Million Healthy Living Campus Aims to Address Historic Inequities in West Dayton

Providence House

Cleveland,
OH
(2022)

Shelters and Community Food, Youth and Families

CDE(s): Cleveland Development Advisors

Providence House provides emergency shelter and crisis care to children newborn to 12 years old. At Providence House, children find safety and comfort in a home-like setting before abuse or