Officials from Midwest Terminals, the Toledo-Lucas County Port Authority and various local, state and federal governments dedicated the new rail line currently under construction at the Ironville Terminal on Aug. 15 by driving commemorative golden spikes into it.
The port authority and Midwest Terminals shared their joint plans for the $18 million project that includes three phases of development. The project will use 71 acres of waterfront property on the Maumee River for material delivery and handling to support a potential manufacturing base on the additional 110 acres of the property.
“The development of Ironville Terminal has received a tremendous amount of support due mostly to the incredible potential this property has for commerce and job development,” said Paul Toth, president and CEO of the port authority.
“This is the one project picked for support by the entire community, including state, local and federal governments,” he said.
Toth said it required 10 years of effort to acquire the vacant property from Chevron that was home to a former Gulf Oil refinery from 1890 to 1987. Gulf Oil spent $19 million on remediation of the site, successfully completing the State of Ohio’s Voluntary Action Program.
The port authority purchased the property for $3.4 million in 2008, making it the largest land mass seaport on the Great Lakes.
The port authority formed a private-public partnership with Midwest Terminals through a long-term lease for the property.
“This public-private partnership is possible not only due to the vast amounts of grant funding but specifically to our private partners, Midwest Terminals, who will invest $5 million into the development of this property. Without this strong partnership, we would not be able to create this new development opportunity,” Toth said at the dedication.
“The federal, state and local partnership feels good. Industrial growth is the challenge of our country in the global economy. Multi-modal is our future in Northwest Ohio,” Congresswoman Marcy Kaptur said at the dedication.
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