Port of Toledo Sees Strong Year in 2024, Continues to Drive Regional Economy

TOLEDO, Ohio – The Port of Toledo had a strong performance in 2024, surpassing the 11 million-ton cargo benchmark for the second consecutive year, reaffirming its critical role in both the local and regional economy. Situated along the Great Lakes, Toledo’s seaport remains one of the largest in the U.S. by tonnage and land area, despite the challenges of an ever-changing market.

The port saw a diverse range of cargo come through its docks, underscoring its importance as a key player in the global supply chain. From agricultural products like corn, wheat, and soybeans to industrial materials such as iron ore, salt, and coal, the Port of Toledo handles millions of tons of cargo annually. The strong performance in 2024 was also highlighted by a record year for aluminum, which is crucial to a variety of manufacturing sectors.

Joe Cappel, vice president of business development for the Toledo-Lucas County Port Authority, emphasized the port’s importance to the local economy. “It was a very good year for the seaport,” Cappel said. “We had another year over our 11 million tons of cargo benchmark, which is a signal of ongoing success. The Port of Toledo really punches above its weight class.”

The port’s reach extends far beyond the city itself, contributing significantly to the economy of Northwest Ohio. With an estimated 8,000 jobs supported by port activities, the economic impact of the port exceeds $900 million annually. Cappel noted that the port handled over 500 lake-trading vessels and barges in 2024, ships that stay within the Great Lakes system. Additionally, more than 30 international vessels made their way to Toledo, further cementing the port’s position as a major hub for global trade.

Aluminum, a key product handled at the port, has seen increased demand in recent years. “Aluminum is stored at the terminal and traded,” Cappel explained. “It’s shipped to manufacturers that make things like engine blocks, appliances, and really anything made from aluminum.” This highlights the role Toledo plays in a much larger global supply chain, linking the port to industries worldwide.

Toledo’s port leaders are focused on the future, continuously working to adapt to changing markets and diversify the types of cargo handled. One of the new commodities gaining traction is distiller’s dry grain, a by-product of ethanol and biodiesel manufacturing. This is just one example of how the port is constantly evolving to meet the needs of the global economy.

Investments in infrastructure also remain a priority for the Port of Toledo. In 2024, the Toledo-Lucas County Port Authority spent approximately $30 million to reconstruct the mile-long dock wall at the general cargo dock. This ongoing investment ensures that the port can continue to handle a wide variety of cargo types and accommodate future growth.

Cappel emphasized that adaptability is key to the port’s continued success. “When one commodity is down, usually another is up, and a new opportunity presents itself,” he said. “We work hard to build facilities that give us the most flexibility when it comes to the type of cargo we can store and load on and off vessels.”

As the Port of Toledo looks toward the future, its strong performance in 2024 reinforces its status as a vital economic engine for the region, helping to secure thousands of jobs and generating significant economic benefits for the area. With ongoing investment and a focus on diversification, the port is poised to continue its growth and maintain its position as a key player in the Great Lakes shipping industry.