LIMA— Allen County is ranked among the best areas for economic development in the nation.
Lima tied for third nationally, with Saginaw, Michigan, in Site Selection magazine’s ratings for Top Metros for projects recorded in 2021 and ranked second in Top Metros per capita. Lima is categorized as a Tier 3 Metro, 50,000 to 200,000 residents, as the statistical area includes all of Allen County. It was tied for fourth in 2020 and ranked sixth in 2019.
Qualifying projects must have a capital investment of $1 million or more, add at least 20,000 square feet of space or create 20 or more jobs. Allen Economic Development submitted projects totaling more than $90 million in capital investment which led to 1,900 jobs retained, 195 jobs created and more than 100,000 square feet of space added.
“The Lima/Allen County region has top class companies that are investing in their businesses and, ultimately, in our community. This Site Selection recognition validates the vision and the pursuit of growth by the leadership of our businesses. In addition, it underscores the collaborative spirit of our local, regional and state partners to support this success over the last three years,” said Dave Stratton, President/CEO of Allen Economic Development Group.
Eligible projects were located throughout the county. One such project was Randall Bearings. One of the emerging technology trends for distribution has been the implementation of a smart supply chain with cloud technology. Randall Bearings is at the forefront of this technology by investing in a new state-of-the-art production and warehouse facility in Lima that will allow it to use cloud-based technology to streamline and manage information both inside and outside of the warehouse.
“This recognition is a testament to the great businesses we have here in Lima/ Allen County. Their commitment to our community is evident by their investment, continued operation and growth,” said Allen County Commissioner Cory Noonan. “We cannot thank our local businesses enough, along with our state and local partners who support our mission to create an environment for new business development, to promote and nurture existing businesses and to facilitate the creation of new jobs in Lima/ Allen County.”
Ohio placed second nationally for its capital investment activity in 2021. Northwest Ohio contributed to that strong placement with several communities placing in the Top Micropolitan category, including Findlay, first; Tiffin and Fremont tying for tenth; Van Wert placing 27th and Defiance 39th. Toledo was ranked 7th for mid-sized metropolitans.
Overall data from the full 2021 calendar year show a pronounced upswing in project activity compared to data from the pandemic-affected economy of 2020. New facilities and expansions included in the analyses must meet at least one of three criteria: a capital investment of at least $1 million, create at least 20 new jobs or add at least 20,000 square feet of new floor area.
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