The Local Edge: Inside Toledo's Rise

Author

Bill Laranga
April 18, 2025

Presented by:

MyMedRep

This morning, I take delivery of a John Deere zero-turn mower—and let me tell you, I didn’t expect to become a part-time small engine expert in the process. I’ve learned more about Kawasaki engines in the last few weeks than I ever thought possible. Turns out, they power almost every serious residential mower on the market.

Big thanks to Ryan Thorbahn and the crew at Ag-Pro in Bowling Green for the solid advice and smooth deal. Supporting local feels good—especially when the purchase helps move the local economy, blade by blade.

And speaking of economic movement… curious how things are growing (or not) in Toledo and the region? Let’s get into it.

This week’s top click? Our ‘Money Confessional’ actually! Thinking about sharing your story? Whether you’re building a business, climbing the corporate ladder, living lean, or thriving on passive income—your journey matters. Our anonymous Money Confessionals are here to reflect the real, unfiltered experiences of people in Toledo who are navigating money on their own terms. You don’t need a million-dollar portfolio or a flashy title—just a willingness to share what you’ve learned, where you’ve stumbled, and how you’re thinking about wealth, freedom, and the future. By opening up, you just might help someone else feel seen, inspired, or a little less alone. Every story adds to the bigger picture. Ready? Click here!

Now let’s get to the good stuff. “Alex, I will take stock market for $500 please!”

Local Stock Market 📉 … Have we hit bottom, yet?

Owens Corning | $OC ( ▲ 0.87% ) 

Dana Incorporated | $DAN ( ▲ 5.95% ) 

The Andersons | $ANDE ( ▲ 1.57% ) 

Owens Illinois | $OI ( ▲ 1.2% )

Welltower Inc. | $WELL ( ▲ 1.13% ) 

Marathon Petroleum Corporation | $MPC ( ▲ 2.94% ) 

Cooper Tire & Rubber Company | $CTB ( ▼ 0.05% ) 

Where Cornfields Meet the Cloud | Meta Data Center

Meta is investing over $800 million to construct a 715,000-square-foot, AI-optimized data center in Middleton Township, Wood County. The facility is expected to create approximately 100 permanent jobs and employ over 1,000 construction workers (Who gets this… Lathrop or Rudolph Libbe). Kyle, help us out with that one! This project underscores the region's growing role in the tech infrastructure sector.

Keep in mind, there is a data center slated for property in the Oregon, OH… Is Northwest Ohio becoming the data center Mecca of the Mid-west? Ashburn, Virgina has seen immense growth in becoming a site for data centers. As more and more tech companies need to relocate data centers for resiliency purposes, does Northwest Ohio become the Midwest Mecca?! We have the land, qualified labor, and the jury is still out on the internet service provider (JK, Buckeye 😉) but… let’s make it happen.

Incoming… $1Bn for Tissues and Paper Products

Where Cornfields Meet the Tush | Manufacturing on the Way

In a move straight out of an economic development fever dream, First Quality Tissue is rolling into Defiance County with a nearly $1 billion investment—yes, with a “b.” The company’s new tissue and towel plant isn’t just big; it’s record-breaking, bringing 400 jobs and claiming the title of the county’s largest single investment ever. 

The state’s kicking in $14.6 million for infrastructure, because when tissue is the talk of 2025, you make sure the roads are ready. Who knew the softest product would land the hardest economic impact? Who knew corn fields would turn into a plant to produce the softest tissue to wipe our tail ends!?

Ford The People: Employee Pricing for Everyone (No Badge Required). 

Drew Teifke, The Anti-Car Salesman

Drew Teifke isn’t here to “close deals”—he’s here to open conversations. A Marine Corps veteran who served as a Machine Gunner and Jungle Warfare Instructor, Drew brings straight-shooter honesty and mission-first mindset to helping people find the right vehicle—not just what fits the monthly payment. Based in Wood County with his growing family, Drew’s focus is simple: listen first, guide second, and never push.

Right now, Ford is doing something it hasn’t done since 9/11: offering A-Plan employee pricing to everyone—no Ford affiliation needed. That means prices below invoice on most vehicles, with savings up to $9,500 depending on model and trim. Exclusions apply (like the 2025 Super Duty and Raptors), but even many commercial vehicles like flatbeds and Transits qualify.

Come in, talk to Drew, and experience what buying a car should feel like. Make sure to mention Toledo Money!

Sky-High ROI | Economic Impact from Above

180th Fighter F-16

The 2025 Toledo Air Show is set to roar into town May 10–11 at Eugene F. Kranz Toledo Express Airport, headlined by the U.S. Air Force Thunderbirds. While it’s a thrill for aviation fans, the real buzz might be from local business leaders. With tens of thousands expected to attend, the show is poised to inject serious energy—and spending—into the regional economy.

Past events have generated close to $250k in economic impact, and with growing interest and a strong tourism footprint (visitor spending makes up nearly 6% of Lucas County’s GDP), the 2025 show could reach new altitudes. From packed hotels and restaurants to booming small business sales, the skies won’t be the only thing seeing action.

I know living in the Waterville area we will be enjoying this show from our backyard with an adult beverage (or five)… Make sure to bring your kids out to see the incredibly skilled pilots put on a show! Kids 3 and under are free!!

 Money Confessional | Local Tech Entrepreneur +$250k Scaling

Age: Late 30s.

Children: No kids yet, but starting to think more seriously about legacy and flexibility.

Living Situation: Owns a modern townhouse in downtown Toledo, just off Adams Street. Purchased pre-renovation and oversaw a full gut rehab. Went with a 30-year mortgage for flexibility, but makes extra payments regularly.

Job: Founder & CEO of a B2B SaaS startup focused on healthcare logistics. HQ’d in Toledo with a remote team spread across the Midwest.

Salary: Draws a modest salary of $120K but took home over $300K last year through profit distributions and a successful early investor exit.

Salary Journey: Started out in corporate IT consulting making ~$70K. Taught himself backend dev and product management, then launched the current startup in 2020. Bootstrapped early on, raised seed capital, and scaled quickly.

Other Income: Has early equity in two other startups and a small angel investing portfolio. Also co-owns a co-working and event space near the riverfront.

Work/Life Balance: Blurs the lines—lives and breathes the company. But makes time for paddleboarding, live jazz at Registry Bistro, and Sunday mornings at Black Kite Coffee. Believes in work sprints followed by mental detoxes.

On Your Mind: Planning a Series A round and debating between staying in Toledo or opening a satellite office in Chicago or Austin. Also exploring if owning commercial real estate downtown is a smarter long-term play.

Debt: Mortgage and some revolving business lines of credit. No personal credit card debt, no student loans. Paid off all personal debt by age 35.

Credit Card: Amex Business Gold for rewards and perks; personally uses the Chase Sapphire Preferred for travel and local dining.

Budgeting: Uses a Notion dashboard tied to QuickBooks and Mint. Reviews quarterly with a CPA and financial coach. Every dollar is assigned, but lifestyle creep is monitored.

Toledo Money Hack: Lease office space in underutilized buildings—most landlords are open to flexible deals. Also: early-stage deals in Toledo are quietly happening at Table 44 and the rooftop at Renaissance.

Toledo Restaurant: Registry Bistro. Order: Seasonal tasting menu and a Negroni. Feels like Brooklyn, without the pretense.

Total Savings/Investments: Keeps about 18 months of runway in liquid assets. Has a SEP IRA, multiple brokerage accounts, and startup equity.

Savings Goal: A micro-vineyard in northern Michigan, plus early FIRE. Also saving to fund a Toledo-based tech accelerator.

Total Net Worth: Just over $1M, most of it tied up in the company and equity investments. Building fast but remains cautious.

Personal Financial Freedom: $4–5M would allow for total creative freedom—could build, consult, or advise without pressure.

Retirement: Envisions “soft retirement” by 50—less work, more mentorship. Will always build something, but wants to do it from a lakeside studio with a good view and better coffee.

Toledo Wealthy: Being able to say “yes” to a new idea without checking the bank account. Net worth of $2M+ and the ability to work when, where, and how you want.

Philanthropy: Actively invests in tech education for underserved youth and mentors founders at LaunchPad Incubator. Supports the Arts Commission and is exploring impact investing locally.

Knowledge: Learned by doing. Made expensive mistakes early, then got smart by listening to other founders, hiring great advisors, and reading everything. Believes money is a tool—but time is the goal.

Money Snacks

3 headlines we are snacking on

  • Meet Ron El-Refai—a Toledo-based real estate investor turning wrecks into checks. He started at 18, skipped college, flipped contracts instead of burgers, and hit six figures by 20. No garage, just hustle. Now he’s juggling flips like an HGTV montage on energy drinks. A first-gen American with zero real estate background, Ron built his path from scratch and shares the real talk on The Real Tales Podcast, featuring stories of folks who went from nada to knockout. P.S. - he follows us on Instagram… help us help you by reaching out!

  • Toledo is investing $10 million in American Rescue Plan funds to expand affordable housing. Half will fund “The Glen,” a 50-unit complex at Southland Shopping Plaza. The rest supports projects like The Grand townhomes, Collingwood Green V, and the YWCA shelter expansion—targeting families earning $44K–$60K annually.

  • Split a CSA (Community Supported Agriculture) share with a friend.

    Local farms like Shared Legacy Farms in Elmore or Toledo GROWs offer weekly boxes of fresh, seasonal produce—and splitting a share with a neighbor or coworker means you’re getting farm-fresh goods for a fraction of grocery store prices. Bonus: you’ll eat healthier, waste less, and support local agriculture.