All-Shred, a document shredding company near the Anthony Wayne Trail, plans to build a new plant in Monclova. But the land they're buying there is owned by the city of Toledo, Ohio.
"I don't see the city being in the real estate business, but over time, the taxpayers are getting a return on their dollars," said Mayor Jack Ford.
Twenty years ago the city bought about 1,200 acres in Monclova with intentions of annexing it. Since then, the city has sold most of the property at a substantial profit.
Willie Geiser, president of AllShred, said that the reason the company has decided to move is because the company needed much larger space for its processing and shredding needs.
The company hopes to break ground on the greenfield operation, and hopes to be operational at the new location within the next four to six months.
Along with building from the ground up, the company also is looking at purchasing new equipment to allow the company to handle more material.
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