Posted on Tuesday, October 23, 2018
TOLEDO, Ohio, October 23, 2018 – For the second time in three years, the Toledo-Lucas County Port Authority received the Ohio Economic Development Association’s (OEDA) coveted “Best Project” award. The Ohio Economic Development Association presented the Toledo-Lucas County Port Authority with the award for The Cleveland-Cliffs Project at Ironville Terminal at its 2018 Annual Summit held October 17-18 in Columbus, Ohio. The Ohio Economic Development Association’s annual excellence awards program recognizes economic and workforce development achievements throughout Ohio. The Best Project category recognizes outstanding and innovative projects in economic and business development that retain or generate jobs and investment.
The Port Authority, in conjunction with public and private partners, was successful in obtaining a commitment from Cleveland-Cliffs Inc. to construct a new hot briquetted iron (HBI) production facility at Ironville Terminal. This project represents a $700 million investment in Northwest Ohio and will position Cleveland-Cliffs Inc. to be the sole supplier of high-quality HBI for the electric arc furnace steel market in the Great Lakes Region.
This project is unique due to strong partnerships between economic development entities, all of which brought resources to the table to ensure the success of the project. Additionally, public entities played a role that is traditionally played by private sector developers, and the calculated risk resulted in Cleveland-Cliffs Inc.’s commitment to the site.
“Recognition such as this does not happen by accident,” said Paul Toth, President and CEO of the Toledo-Lucas County Port Authority. “This is a result of a strong partnership between the Port Authority, Regional Growth Partnership, JobsOhio, Lucas County, and the City of Toledo, all working cooperatively to maximize the potential of our region.”
Since the Port Authority acquired the former Chevron Property in 2008, the Port and its partners have collectively invested approximately $25 million to redevelop the site and surrounding properties. Cleveland-Cliffs Inc. will receive more than two million tons of product annually, delivered by vessel, for the production of HBI, that will add 100 new vessel calls per year at the Port of Toledo. The finished product will ship from the facility via truck and rail.
The Port Authority is a two-time winner of the Best Project Award, first receiving the award in 2016 for The Dana Project at Overland Industrial Park.
The mission of the Toledo-Lucas County Port Authority is to develop expertise and assets that drive and grow the region’s transportation and logistics infrastructure and its economic prosperity for all.
www.toledoport.org – 419.243.8251
Click here to view the Ohio Economic Development Association’s (OEDA)
Best Project Award video!