The City of Sylvania has a vibrant and growing economy. Consistent population growth coupled with a successful and supportive business environment make Sylvania a prime choice for new business and industry.
Characteristics & Values
Perhaps the best way to convey Sylvania’s economy, characteristics and values is to paint an overall picture of the city. Within about 6 square miles, the City of Sylvania encompasses 18,700+ residents and all this:
- More than 250 acres of parkland owned or leased by the city.
- Nearly $230,000 in public art.
- Two public sports complexes and a sports and exhibition center.
- An arts/entertainment and conference complex on the campus of a highly respected college with 40+ degree programs.
- A vast health care campus including the region’s leading cancer care institution, a Level III trauma center, the region’s most experienced care center for patients with Alzheimer’s disease, an inpatient rehabilitation facility, and the home of a family medicine residency program, one of only a handful in the U.S.
- The global headquarters of a leader in organizational strategy and engagement.
- Numerous small and mid-sized digital design businesses developing anything from medical equipment to websites.
- Many banks and credit unions with commercial lending specialists.
- Various facilities for professional and business offices, including excellent office parks and tracts of land zoned for this type of development.
Economic Base
The Sylvania area is home to corporate headquarters, small businesses, light industry, health care, research and development and a highly diverse retail community. The city’s economy is anchored by a large commercial and retail base, and very little manufacturing. This differs from the economic base for Lucas County, as seen in the chart below.
Planned growth and boundary expansion also have brought economic growth to Sylvania. Due to this growth, Sylvania’s income tax receipts increased almost 8% in a single year (2005-2006).
Recent additions to Sylvania’s business community include a financial services firm; Root Learning, a company specializing in organizational and corporate strategies and cultural learning; and Regency Hospital, a long-term care facility.
The city’s investment policy stresses safety, liquidity and return. Sylvania’s investment portfolio carries a Standard & Poor rating of AAA.
93 Million Neighbors
Basing your business in Sylvania means you have access to the 93 million people who live within 500 miles of the city. Sylvania is centrally located in the “ChiPitts Megalopolis” that extends from Chicago to Pittsburgh. Major Midwest markets along this “corridor” include Chicago, St. Louis, Indianapolis, Cincinnati, Columbus, Detroit, Cleveland, Buffalo, Toronto and Pittsburgh.
