TOLEDO, OH (WTOL) – Toledo's cultural treasures could play a key role in future development along the Maumee riverfront.
In fact, a memo of understanding signed by Toledo Mayor Mike Bell from a foreign investment group mentions the city's cultural assets.
The letter from the chairman of Dashing Pacific Group, which is considering developing the Marina District, mentions the investment company's intent to help spread international awareness of the area's rich cultural resources.
City leaders are pleased the chairman wants to invest in the community and is impressed with the city.
"I don't know if we undervalue it, we undersell it though," said Toledo City Council's Mike Craig. "They see the museum, they see the zoo [and] they see we have an active nightlife in downtown."
Toledo Symphony President and CEO Kathy Carroll says she is happy the mayor is highlighting arts and culture as a way to attract new investors to the Glass City.
Additionally, some think new foreign investment and increasing international awareness of Toledo's cultural scene could help drive others to the city.
Toledo City Council's Rob Ludeman says there are currently daily flights from Shanghai to Detroit. "That would be a natural pipeline for folks to come here visit spend their dollars do some tourism."
In turn, Craig believes that could help boost the local cultural scene. He says if investors are successful, they will likely reinvest in the city's cultural assets.
Copyright 2011 WTOL. All rights reserved.