Latz: How to make Toledo better

This past weekend, I learned about the city of Toledo and its economy, and I was intrigued by the ideas that our community leaders and universities had to share. It got me thinking. How can other universities better Toledo?

Last Friday, I helped Jeffery Potter, the CEO and innovator of Potter Technology and SkyLIFE Technology, by attending to a seminar about the economic development in the Toledo area. This seminar is based on the former president of University of Toledo Daniel M. Johnson’s most recent book called “Leading Economic Development: A Toolkit for Public Officials and Civic Leaders.” This book is about what leaders can do to be more successful and how leaders can help the economy grow. The community leaders mainly discussed that we, as a city, should move more businesses in downtown Toledo.

I thought that was a wonderful idea, because there are so many abandoned buildings that could be restored with unique restaurants, studios or other small local businesses — but how can that be done?

Every Saturday I help out and assist a radio show, “The Business Blackboard,” which is on 1370 WSPD from Saturdays 8-10 a.m. This radio show discusses the good in Toledo and how businesses help our city grow economically. Last Saturday, we had students from BGSU come in and discuss their business program called, “The Hatch.” “The Hatch” is based on the television show “Shark Tank.” This program allows students to have a unique opportunity to launch their ideas and create a business. It is a cool way for businesses to bloom.

As I was listening to the seminar and the students from BGSU sharing their ideas, it got me thinking about what universities can do to better Toledo. Johnson and other community leaders made it clear that universities are important for our economy. And I completely agree that universities are the foundations that help cities grow. Universities are one of the top reasons that bring people to stay. The universities and the students are one of the keys to unlocking that goal. Universities are the foundation that helps create new ideas and new opportunities that will help make a city grow.

According to “Liberty Street Economics,” by Jaison R. Abel and Richard Deitz, universities are a huge asset, because they spend money on local areas and workers. It also contributes stability. If the “working-age” had at least a bachelor’s degree, the article states that students would “tend to be more innovative, have greater amounts of economic activity, and enjoy faster economic growth, and workers in these regions tend to be more productive and earn higher wages.”

The downtown is already growing with the help of the Mud Hens. During the seminar, the Toledo Mud Hen’s president and general manager, Joe Napoli, explained The Hensville project and how Hensville will help make a difference in the economic growth. ProMedica is also making a difference and moving to downtown Toledo, which brings around 2,500 jobs.

I came to the conclusion that if we want to build up Toledo, then we have to make the businesses want to move to Toledo. Giving business assets and tax breaks will help. From what I learned over this weekend, in order to help expand our economy, we must have great leadership, true collaboration and create trust. With the help of the universities, the community leaders and the people of Toledo, we can help make a difference in our city.

How can YOU better Toledo?

Olivia Latz is a second-year majoring in communication.