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Homegrown Ambition, National Impact
Bagels, big bets, and bold strategy; Barry Bagels scales up, Stellantis doubles down, and RGP sets the region’s economic sails.

Hello Friday.
Man, what a week. Maybe it’s just the crisp fall air finally rolling in, but I’m not complaining, give me 70° and sunny until Thanksgiving and I’ll call it perfect.
Lately, though, I’ve been thinking about something: how do we spark more people to start businesses here in Northwest Ohio? Since moving here, I’ve met plenty of folks running companies their great-grandparents started. And that’s impressive in its own right, keeping something alive for generations is no small feat. But where’s the next wave of innovation? The new ideas born from scratch that grow into something big?
Is it today’s economy holding people back, or maybe a mindset thing? What’s missing between potential founders and opportunity?
Anyway, let’s get into this week’s issue.
Side note: I was thinking about our news with Shake Shack coming to Levis Commons and thought, “We should’ve bought the area franchise rights.” Turns out—they’re all corporate-owned. So hey, no missed opportunity there.
👨🏼 This Week’s Shoutout: Chris James, for being a reader of Toledo Money! Chris serves as President of Crestline Paving & Excavating. The team behind many major projects you’ve likely seen around town, from work at the University of Toledo to ProMedica and more.
Local Stock Market | 📈
Owens Corning | $OC ( 0.0% )
Dana Incorporated | $DAN ( 0.0% )
The Andersons | $ANDE ( 0.0% )
Owens Illinois | $OI ( 0.0% )
Welltower Inc. | $WELL ( 0.0% )
Marathon Petroleum Corporation | $MPC ( 0.0% )
🥯 Barry Bagels Is Quietly Building a National Brand — From Right Here in Northwest Ohio
If you grew up in Northwest Ohio, chances are you’ve had a Barry Bagel or two...or 75. What started as a single family-run bakery in Toledo in the 1970s is now scaling into one of the Midwest’s most promising fast-casual success stories. And recently, Barry Bagels announced its next major expansion, this time into Iowa.
CEO of the company is James Nusbaum, Barry Bagels has entered into an agreement with the state of Iowa to develop 20 locations across the state, with the first store’s location expected to be announced soon. The move pushes the brand’s total footprint to more than 100 shops open or in development across the country.
It’s an impressive leap for a brand that has long been a Toledo favorite. Currently, Barry Bagels operates in Ohio, Michigan, Indiana, Kentucky, and Texas, with most stores concentrated in its home state. The company made headlines earlier this year when it announced a 30-store expansion into Texas, signaling that its growth strategy is gaining momentum beyond the Midwest.
The Secret Behind Their Scalable Model:
Part of Barry Bagels’ success can be credited to its hub-and-spoke franchise model, a smart system designed for efficiency and expansion. In this setup, franchisees operate a central “hub” store that handles the baking. That hub then supplies multiple smaller “spoke” shops that don’t require full kitchens.
The result: lower overhead, faster market entry, and better brand saturation in each region. It’s a franchise strategy more commonly seen in logistics or coffee chains, but Barry’s is proving it works beautifully in the bakery café space. For multi-unit operators, it’s a model that allows for sustainable growth without compromising quality.
A Toledo Original on the Move:
For Northwest Ohio, Barry Bagels represents more than just a hometown favorite expanding outward, it’s a local business taking Toledo’s entrepreneurial spirit national. From its beginnings on Westgate Boulevard to now crossing into multiple states, Barry’s has managed to keep its identity intact: fresh bagels, family values, and consistency you can taste.
As Nusbaum and his team continue to build out the brand’s presence across the Midwest and South, one thing’s clear: Barry Bagels isn’t just expanding stores. It’s exporting a piece of Toledo culture.
Toledo Money will continue following Barry Bagels’ growth story as it develops.
🏗️ The Quiet Architects of Growth
The Regional Growth Partnership is reshaping Northwest Ohio’s economic playbook. The numbers tell the story.
If you drive through Northwest Ohio, the story seems obvious. Factories, foundries, and the hum of industry. It is what built this region, powered generations, and still fuels thousands of paychecks today.
But beneath that familiar rhythm, something interesting is happening. The Regional Growth Partnership (RGP) is quietly repositioning the region for the next era of growth. Their Q2 2025 macroeconomic report makes it clear. They are playing a smarter, more diversified game than most people realize.
🏭 Manufacturing Is Still the Anchor
Manufacturing and automotive remain RGP’s bread and butter, accounting for more than 60 percent of their projects. Toledo has long punched above its weight in advanced manufacturing thanks to its workforce, location, and supply chain density.
But the global economy does not sit still. Supply chains have shifted. Automation is rewriting job descriptions. High growth industries are chasing digital infrastructure and clean energy, not just shop floors. RGP understands this. Manufacturing is the foundation, not the finish line.
⚡ The Energy Sector Is Lighting Up
Here is a number that jumps off the page. Two billion dollars.
That is the scale of recent energy sector investments in the RGP region. From grid upgrades to renewable projects, energy is becoming a growth pillar. Companies choosing new locations ask two questions first. Can I power it reliably. Can I power it cleanly. Northwest Ohio is increasingly able to answer yes to both.
🧠 Data Centers Bring Big Money
Data centers do not hire thousands of employees, but they drop hundreds of millions of dollars into local economies.
Meta’s $800M data center campus outside Toledo is exhibit A. These facilities may only need a few dozen engineers day to day, but their ripple effects are wide. Electricians, HVAC contractors, security companies, plumbers, steel fabricators, and manufacturers like Yarder all benefit.
RGP has leaned into this sector. They are preparing industrial sites with the power, permitting, and fiber needed to lure big West Coast capital to the Midwest.
🎓 The Talent Engine Is Running
The region is not just preparing sites. It is preparing people.
STEM program completions are up almost 12% since 2019 across the 17 county RGP region. Bowling Green State University is investing in analytics and computer science. The University of Toledo continues to strengthen its engineering programs. The region is producing not only auto engineers but also architects, data scientists, and Space Force cadets (Yes, NWO had one v skilled young talent invited to join).
The challenge is retention. White collar job growth is not keeping pace with the talent pipeline. In 2024, professional job growth was less than one percent. Without diversification, we risk exporting our best graduates to larger cities.
🌐 Macro Momentum Meets Midwest Affordability
Look under the hood and the economic dashboard is encouraging. Private earnings are up 2.85% year over year. GDP per capita is rising steadily. Toledo remains one of the most affordable regions in the country, giving employers a recruiting advantage.
Add in shovel ready sites, strong transportation, and a willing workforce, and the ingredients are here. The question is whether we can move fast enough to match the industries of tomorrow.
🧭 The Big Picture
Northwest Ohio is not trying to become Silicon Valley. It does not need to. The region’s value proposition is different and arguably more durable.
RGP’s evolving strategy shows a region that knows its strengths but is not bound by them. Manufacturing remains the anchor. Energy, digital infrastructure, and talent are the sails catching new winds.
The risk is not ambition. It is inertia. If we fail to create enough high skill jobs, other regions will happily take our graduates and our tax base. But if we get this right, Northwest Ohio could become a national case study in how industrial regions reinvent themselves without losing their soul.
✍️ Toledo Money Take
RGP is not a household name. They do not throw festivals or buy billboards. But their fingerprints are all over the region’s next chapter.
They are the quiet architects of growth. And in a world where capital, talent, and power grids decide the winners, that makes them one of the most important players in town.
Stellantis Bets Big on Toledo… and America

$13 B investment reshapes U.S. footprint, with Jeep’s hometown playing a starring role
It was not too long ago that Stellantis was trimming shifts and floating the idea of pulling production out of Toledo. Fast forward to today, the company is dropping nearly $400 million into the Toledo Assembly Complex to build an all new midsize truck, a product that was originally destined for Belvidere, Illinois.
This shift is not just about trucks. It is a window into Stellantis’s larger $13 billion U.S. investment strategy, the biggest in its 100 year history. Over the next four years, the Netherlands based parent of Jeep, Chrysler, and Dodge is pumping money into plants across Illinois, Ohio, Michigan, and Indiana, adding more than 5,000 jobs and rolling out five new vehicles along with nineteen refreshes.
🇺🇸 A Dutch Company With an American Playbook
Stellantis has been busy rebranding itself as part of “America’s Big Three.” The company hired an American CEO, Antonio Filosa, who has been on a domestic growth offensive since his first day. To add… he only lives ~ an hour from us 😎. Stellantis’ ad campaigns are pure Americana, with Dana White voiceovers, Jeep heritage reels, and nods to the days when Willys Jeeps powered U.S. troops abroad.
This new strategy is crystal clear: grow in America or get left behind.
📍 Where the Money Is Going
Let’s break down the company’s spending package:
Illinois – $600 million to reopen Belvidere for two Jeep models, creating 3,300 jobs.
Ohio – $400 million to move midsize truck production to Toledo, adding roughly 900 jobs.
Michigan – $230 million total across Warren and Detroit for SUVs and the next generation Durango.
Indiana – $100 million to make the new GMET4 EVO engine in Kokomo.
For Toledo, this means more than new steel on the line. It signals long term stability and relevance in Stellantis’s reshaped U.S. map, which is a big deal for a plant that has seen its fair share of uncertainty.
🔄 Strategic Displacement
Here is the twist. The midsize truck originally belonged to Belvidere. Stellantis’s decision to shift that program to Toledo is telling. Illinois gets its plant back, but for different models and on a later timeline. Toledo, meanwhile, gets a critical new product line, reinforcing its status as Jeep’s crown jewel.
🧭 The Bigger Picture
This is not just an auto story. It is a geopolitical business story. A foreign automaker is investing like a domestic giant to secure its future in the U.S. market. And Northwest Ohio is right in the middle of that map.
🤜🏼 Money Confessional | From Family Risk-Taker to Community Steward
He once bet it all on building a family-owned business in Toledo. It was a bold move in a high-risk industry. But he quickly learned that when the core group of Toledo’s business leaders rally behind you, the climb gets a lot more manageable. For him, Toledo has truly felt like the land of opportunity.
Today, that business has grown to the point where private equity firms are circling. (Joking—but seriously, if you are interested, you might want to give Ned Weaver a call to broker the deal.)
🏡 At home, life looks different now. The mortgage is gone. The living is humble. He is a season ticket holder for the Walleye, spends more time on local nonprofit boards, and is grateful for the community that helped make it all possible.
📈 Career Roots:
“Starting out, it was pure grit. We took a chance on Toledo, and Toledo took a chance on us. The city’s support for local entrepreneurs is something special; you do not get that everywhere.”
💵 Growth So Far:
“If I could do it all over again, I would take even more risk. But I am proud of what we built. It has been steady, meaningful growth; not just for our family, but for our employees and the community around us.”
📚 Mentorship Magic:
“The UT Family Business Center has been a godsend. Their programs gave me frameworks, mentors, and a network of people who understand what it means to build something that lasts.”
☕ Favorite Splurge:
“Season tickets for the Walleye. Toledo game nights are where business acquaintances become friends.”
💡 Biggest Worry:
“Succession. I don’t want to force the business on my kids or make them feel like they are responsible for funding my retirement. They deserve the freedom to carve their own paths.”
📊 Current Standing:
“We’re in a comfortable place. The house is paid off, the business is thriving, and our focus has shifted from growth at all costs to stewarding what we’ve built.”
💵 Financial Tip:
“Take calculated risks early. Toledo has a way of rewarding those who bet on it. And always invest in relationships; they will carry you further than spreadsheets ever will.”
🌱 Inspiration:
“My biggest inspiration has been the local business community. The people who showed up, vouched for us, opened doors. That network changed everything.”
🗣 Toledo Tip:
“Find your core crew. In Toledo, when the right group gets behind you, opportunity follows.”
💵 Money Snacks
Here are a few headlines we are snacking on
If your Uber is taking longer than usual, your driver might be multitasking earning a few extra bucks by uploading a Spanish menu or recording voice samples. Uber just launched a new “digital tasks” program that pays drivers to help train AI models between rides. Tasks include:
Recording audio in different accents or languages
Uploading documents (like menus, worth up to $1)
Snapping specific photos
The company says this data won’t be used to build self-driving cars, but it does feed Uber’s growing AI division, Uber AI Solutions, which recently acquired a Belgian startup called Segments.ai.
👉 Translation: Uber is turning its massive driver network into a global AI data engine and paying them for it. AI is the new oil, and Uber just started drilling from the driver’s seat.
Restaurants are shrinking your dinner on purpose. All-you-can-eat might be out. Just-enough-to-eat might be in. Olive Garden, P.F. Chang’s, and The Cheesecake Factory are all testing smaller portions…a bold move for brands built on massive plates and endless refills. Olive Garden says the shift is working, with more diners turning into regulars thanks to lighter meals (and probably lighter bills).
Here’s what the data says:
74% of customers actually want smaller portions.
44% of adults admit to ordering off the kids’ menu to save a few bucks and some calories.
What’s driving it? People snack all day, dine solo more often, and some are on GLP-1 drugs curbing their appetite. Less food, more profit. Smaller plates. Bigger margins. Welcome to the era of portion control economics.
📬️ Forward Thinking
We’re not just building a newsletter—we’re building a clubhouse for ambitious professionals who care about Toledo’s economic future (and their own place in it).
If you know a colleague, peer, or friend who should be part of this circle, pass this along. The more sharp minds we bring to the table, the stronger our region grows.


