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

Avenue District Project

Cleveland,
OH
(2007)

Housing, Mixed-use, Retail

CDE(s): Cleveland Development Advisors

The Avenue District project entailed development of underutilized surface parking lots in downtown Cleveland into an eight-story, new construction, for‑sale housing project with street-level retail as well as for-sale townhome

Ariel On Broadway

Lorain,
OH
(2018)

CDE(s): USBCDE

Formerly the Spitzer Hotel before it sat vacant for more than a decade, the Broadway Building was an eyesore on the city's main thoroughfare until it was revitalized.

Famous Supply – Maple Heights Distribution Center

Maple Heights,
OH
(2024)

Manufacturing

CDE(s): Cleveland New Markets Investment Fund, Northeast Ohio Development Fund

A new facility in Maple Heights, OH is helping train local workers for stable careers in manufacturing

Shawnee Counseling Center

Portsmouth,
OH
(2019)

Addiction Treatment, Behavioral Health, Community, Healthcare, Rural

CDE(s): WesBanco

The NMTC supported start up costs and business expenses for a 24 hour clinically monitored Residential Rehabilitation program for adult men dealing with substance abuse disorders.