A 550-acre Joint Economic Development Zone (JEDZ) established in 2003 among the cities of Maumee and Toledo and Monclovia Township is being celebrated as an economic development success story, The Blade reports. The agreement establishing the JEDZ prevented the entities from competing for and engaging in a "fractious governmental squabble" over Dana Corp.'s 170,000-square-foot technical center project, which created hundreds of jobs in the area. Under the terms of the agreement, "Toledo sold the land to Dana, Maumee annexed the land, and Monclova Township got to levy property taxes on the site like it always had, plus it got a third of the income tax levied on Dana. Toledo and Maumee got to split two-thirds of the tax revenues." Dana ultimately moved its headquarters to a site within the JEDZ, and just last month it was revealed to the Toledo City Council "that a mystery company purchased 37 acres of land" within the JEDZ with plans to invest $10 million in a new headquarters and factory, the article said. For more, read the full story.
JEDZ agreement celebrated as an economic development success that mutually benefited three local governments in Lucas County
