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

Overland Industrial Parkway

Toledo,
OH
(2017)

Auto Manufacturing, Business Development, Manufacturing

CDE(s): Finance Fund

Construction of manufacturing warehouse facility, site development work, machinery/equipment and fixtures/finishes for lease to automotive supplier manufacturing company.

Hope Center

Dayton,
OH
(2020)

Adult Education, College or Vocational Training, Community, Daycare and Early Childhood, Healthcare, Mixed-use, Nonprofit Hub, Youth and Families

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

New construction of a 28,200 SF community center where low-income individuals and families will have access to workforce development, early childhood, GED and associate degree programs as well as a

Ohio Heat Holdings LLC

Fairfield,
OH
(2024)

Manufacturing

CDE(s): Advantage Capital

A specialized equipment manufacturer grew its footprint and added jobs in Fairfield, OH

Down Syndrome Association of Greater Cincinnati

Cincinnati,
OH
(2012)

College or Vocational Training, Community

CDE(s): PNC, Stonehenge Community Development

NMTC financing for the Down Syndrome Association of Greater Cincinnati, which partners with families and others to create an environment in which individuals with Down Syndrome.