Economic Development

Local Industry & Economic Development

Local Industry

The Village of Waterville is proud of its industrial business community and the contributions they make to the village.

The primary location of Waterville’s industrial businesses is the Farnsworth Industrial Park, which was conceived by local resident J. Willard Farnsworth and incorporated in 1980. The park originally consisted of approximately fifty-nine (59) acres and had been part of the W.G. Farnsworth Orchards within the village.

Through the combined efforts of the Village of Waterville and the Anthony Wayne Community Improvement Corporation (AWCIC), the necessary infrastructure was constructed within the park; including roads, water & sewer lines, and a 250,000-gallon elevated water storage tank. Since that time, the Village and the AWCIC have developed a successful track record in relocating new businesses and retaining existing companies within the community.

Economic Development Programs
The Village of Waterville has several incentive programs available to assist companies in relocation to or expansion within the community: A Community Reinvestment Area (CRA) can provide up to 100% property tax abatement on all real property improvements for up to 15 years to companies investing in the village

The Lucas County Enterprise Zone Program can provide up to 75% tax abatement on real and personal property investments made by companies creating new jobs within the Village for up to 10 years.

A Job Creation and Retention Grant Program which provides annual cash payments to companies locating or expanding within the Village. A portion of the income tax paid by company employees to the Village is credited back to the company based on the number of new jobs and increased annual payroll.

Numerous other programs and services available through the State Federal and, County governments, the Toledo/Lucas County Port Authority and the Regional Growth Partnership that the Village can access to assists local companies with expansions; and new companies with development projects.