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.
City of Sylvania Employment (As % of Total Population)*
| Employed Civilian Population Age 16 & Up |
City of Sylvania |
LucasCounty |
| OCCUPATION | ||
| Management, professional and related |
46.5 |
30.0 |
| Service |
10.9 |
15.8 |
| Sales and office |
26.9 |
26.4 |
| Farming, fishing and forestry |
0.2 |
0.2 |
| Construction, extraction and maintenance |
5.6 |
8.4 |
| Production, transportation and material moving |
9.8 |
19.1 |
| INDUSTRY | ||
| Agriculture, forestry, fishing, hunting and mining |
0.3 |
0.4 |
| Construction |
5.8 |
5.8 |
| Manufacturing |
14.7 |
18.3 |
| Wholesale trade |
4.8 |
4.0 |
| Retail trade |
11.8 |
12.3 |
| Transportation, warehousing and utilities |
2.4 |
5.5 |
| Information |
2.8 |
1.9 |
| Finance, insurance, real estate, rental and leasing |
6.0 |
4.8 |
| Professional, scientific, management, administrative and waste management services |
10.1 |
9.0 |
| Educational, health and social services |
28.1 |
21.9 |
| Arts, entertainment, recreation, accommodation and food services |
7.5 |
8.1 |
| Other services (except public administration) |
3.3 |
4.8 |
| Public administration |
2.6 |
3.4 |
| CLASS OF WORKER | ||
| Private wage and salary |
80.2 |
83.2 |
| Government |
13.7 |
11.9 |
| Self-employed in own (not incorporated) business |
5.9 |
4.8 |
| Unpaid family workers |
0.1 |
0. |
* Source: 2000 U.S. Census
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.
Property Tax Relief
The taxation of all tangible personal property used in business (except for certain public utility tangible personal property) is being phased out over four years, from tax year 2006 to tax year 2009. Previously, machinery and equipment, furniture and fixtures were generally taxed at 25% of true value, and inventory was taxed at 23%. These percentages are being decreased as follows:
| Tax Year |
% Decrease |
| 2006 | 18.75 |
| 2007 | 12.50 |
| 2008 | 6.25 |
| 2009 | 0.00 |
Through steady growth in population, commercial success and sound financial stewardship, the City of Sylvania has been able to suspend a portion of property taxes in recent years. In 2003 and 2004, residents saved nearly a half-million dollars due to the suspension of the streetlight assessment. In 2007, city council voted to not collect one mill of capital improvement levy and, in 2008, to not collect an additional one-half mill of general fund levy. This has saved the taxpayers of the city more than $700,000 annually.
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.
