Allen County among top three nationally for economic development

LIMA—Allen County is ranked among the top economic development areas in the country.

Lima tied for third nationally, with Saginaw, Michigan, in Site Selection magazine’s ratings for top metros for registered projects in 2021 and ranked second in top metros per capita. Lima is categorized as Tier 3 metro, population 50,000-200,000 because the statistical area includes all of Allen County. It was tied for fourth in 2020 and sixth in 2019.

Eligible 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 has submitted projects totaling over $90 million in capital investment, which has retained 1,900 jobs, created 195 jobs and created over 100,000 square feet of space.

“The Lima/Allen County area has leading companies investing in their businesses and ultimately in our community. This Site Selection recognition validates the vision and pursuit of growth through the leadership of our companies. Further, it underscores the collaborative spirit of our local, regional and state partners to support this success over the past three years,” said Dave Stratton, President and 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 retail has been implementing an intelligent 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 warehousing facility in Lima that will enable it to use cloud-based technology to streamline and manage information at the inside and outside 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 in their investment, continued operation and growth,” said Allen County Commissioner Cory Noonan. “We cannot thank our local businesses enough, as well as our state and local partners who support our mission to create an environment conducive to the development of new businesses, to promote and support existing businesses and to facilitate the creation of new jobs in the world. Lima/Allen County. »

Ohio ranked second nationally for capital investment activity in 2021. Northwest Ohio contributed to this strong ranking with several communities ranking in the Top Micropolitan category, including Findlay, first; Tiffin and Fremont tied for tenth; Van Wert ranks 27th and Defiance 39th. Toledo was ranked 7th for mid-sized metropolitan areas.

Overall data for the full calendar year 2021 shows a pronounced increase in project activity compared to data for the pandemic-affected economy of 2020. New facilities and expansions included in the analyzes 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 space.

Randall Bearing has expanded its presence in Allen County with its new production facility and warehouse.

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Randall Bearing is adding office space to its new production and warehousing facility on McClain Road.

Contact Dean Brown at 567-242-0409