By: Emily Dammeyer, Communications Manager, Toledo Regional Chamber of Commerce
In the heart of National Small Business Week, area manufacturers got together for lunch to share industry news, get an idea of where manufacturing is headed in Northwest Ohio, and to help forecast the future in order to help impact buying decisions.
The event, held at American Manufacturing, was hosted by the Toledo SBDC and the SBA. In addition to the 15 manufacturers in attendance, Congresswoman Marcy Kaptur, Gil Goldberg, Cleveland District Director of the SBA, Teresa Smith, Toledo Lucas County Port Authority, Jessica Ice, Research Analyst Federal Reserve, and staff of the Toledo SBDC and Toledo Regional Chamber of Commerce were in attendance.
A lively discussion followed lunch, and each attendee had the opportunity to share their challenges and successes, as well as seek advice from the group. Many shared that they are incredibly busy, and while busy is great for business, they all share the challenge of filling their workforce. The manufacturing industry as a whole has found that skilled trade workers are hard to find and that the time and cost that goes into screening new employees is staggering. This industry too, is feeling the impact of drug abuse in relation to filling the workforce.
The event, held at American Manufacturing, was hosted by the Toledo SBDC and the SBA. In addition to the 15 manufacturers in attendance, Congresswoman Marcy Kaptur, Gil Goldberg, Cleveland District Director of the SBA, Teresa Smith, Toledo Lucas County Port Authority, Jessica Ice, Research Analyst Federal Reserve, and staff of the Toledo SBDC and Toledo Regional Chamber of Commerce were in attendance.
A lively discussion followed lunch, and each attendee had the opportunity to share their challenges and successes, as well as seek advice from the group. Many shared that they are incredibly busy, and while busy is great for business, they all share the challenge of filling their workforce. The manufacturing industry as a whole has found that skilled trade workers are hard to find and that the time and cost that goes into screening new employees is staggering. This industry too, is feeling the impact of drug abuse in relation to filling the workforce.
“The discussion of the manufacturers in attendance all agreed the most pressing issues they have in finding new employees is not just training, but softer skills like 'coming to work on time every day' and being able to pass drug tests.” – Charlie Chambers, Lead Consultant, Toledo Small Business Development Center
Chuck Gotberg, President of American Manufacturing, recommended that business owners try to promote an internal employee referral program. He told the group that he finds great success in sharing open positions with his employees and having them refer their friends and family to the company. Another employer told the group that they have a comprehensive, in-house apprenticeship program to help develop the future generations of the workforce.
Teresa Smith shared with the group that The Toledo Lucas County Port Authority has been offering innovative financing solutions for businesses throughout Northwest Ohio since 1988. The Northwest Ohio bond fund can facilitate transactions between $2-9 million, while the SBA504 and the Regional 166 loan programs provide loans from $500,000- $5.5 million. The newest offering, the Microenterprise Development Initiative, provides start-up capital, working capital and expansion capital for new and existing business with loans starting at $500 and ranging up to $350,000. Additional details and applications for these programs are available on their website.
Teresa Smith shared with the group that The Toledo Lucas County Port Authority has been offering innovative financing solutions for businesses throughout Northwest Ohio since 1988. The Northwest Ohio bond fund can facilitate transactions between $2-9 million, while the SBA504 and the Regional 166 loan programs provide loans from $500,000- $5.5 million. The newest offering, the Microenterprise Development Initiative, provides start-up capital, working capital and expansion capital for new and existing business with loans starting at $500 and ranging up to $350,000. Additional details and applications for these programs are available on their website.
“We have a myriad of customizable funding solutions to meet the needs of businesses both large and small. We also offer long-term fixed rate financing for business that want to improve the energy efficiency of their existing facilities through our BetterBuildings of Northwest Ohio program.” – Teresa Smith, Toledo Lucas County Port Authority
Jessica Ice, a Senior Research Analyst from the Federal Reserve Bank of Cleveland, provided an economic update on national and regional economic conditions. She highlighted that Toledo’s concentration of automotive and aerospace manufacturing was helping to boost economic activity and tighten labor market conditions in the region. For more information on economic conditions in the Toledo area you can check out the MetroMix publication provided by the Federal Reserve Bank of Cleveland.
“The SBA roundtable was a great opportunity to get small businesses perspective on regional economic conditions. Insights on the day to day operations of small businesses really help give to give context to regional data.” – Jessica Ice, Federal Reserve Bank of Cleveland
Congresswoman Kaptur, who fully supports the efforts of the SBA, recognizes that as a port city Toledo has the ability to reach the world. She charged the group to pool their resources and capitalize on our unique geographical and manufacturing opportunities.
“We are a manufacturing center…we know how to put head to hand and be incredibly innovative. Let’s pool our resources and do it!” - Congresswoman Kaptur
 | Emily Dammeyer is the Communications Manager at the Toledo Regional Chamber of Commerce. She has a background in Social Media Management and received a degree in Organizational Communication from Miami University. |
Please contact Emily Dammeyer, Communications Manager, Toledo Regional Chamber of Commerce to submit a story for our blog.
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