West Toledo property to be sold for $3M expansion project - Toledo News Now, Breaking News, Weather, Sports, Toledo

West Toledo property to be sold for company's $3M expansion project

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The city is moving forward with plans to sell property located off Telegraph near Alexis to the Toledo Tool and Die Company for $50,000. The city is moving forward with plans to sell property located off Telegraph near Alexis to the Toledo Tool and Die Company for $50,000.
TOLEDO, OH (Toledo News Now) -

The city of Toledo is planning to sell land to help a local company with a multimillion dollar expansion project.

The city is moving forward with plans to sell property located off Telegraph near Alexis to the Toledo Tool and Die Company for $50,000.

The company, which specializes in welding and metal stamping, has purchased some new press equipment and is planning a $3 million expansion project to retain 100 full-time and part-time employees, as well as create up to 12 new jobs.

Councilman Rob Ludeman says that city-owned land is doing no good and should be sold to help a local company.

"Every time there's more jobs, that means more houses get sold, more cars get sold, more durable goods. We can tell the economy is coming back. This is one more feather in our cap in Toledo to have a good manufacturing company, add some jobs, because we're willing to work with them on selling them a piece of land," said Ludeman. 

Groundbreaking on the expansion project could happen as early as this spring.

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