A Vision For
Toledo Airports

Recently news broke that members of the Treece family had been in talks with the City of Toledo about privatizing the operations of Toledo Express Airport and Toledo Executive Airport.

Since then, a number of questions have been raised including: who is involved, what exactly we want to do, and why we feel we can help the Airports become better sources of economic development for the region.  Now, having completed our due diligence and finalized several documents, We are ready to present our proposal to the public.

As such, we want everyone to have direct access to everything we have prepared – to be completely transparent. We want everyone to be able to see the answers to all the questions that have  been raised; to be able to read our proposal in its entirety. We also want to invite anyone to comment on our plan. Included on this page is a “Contact Us” feature so that anyone with questions about any of our documents can provide feedback. Anything brought to our attention which we feel needs to be addressed will be included in revisions to our documents.

The Plan

For the past three years we have been working on a vision for Toledo Express and Toledo Executive Airports to be run by a private operator capable of maximizing development opportunities as they present themselves. Since our concept has become public, the single greatest question we have been asked is: “what is your plan for the airports?” People have asked who our investors are, what we’re offering the City of Toledo in exchange for the opportunity to operate and develop the airports, how we plan to finance such a proposal, and more. Now, in this document, all questions are answered; the curtains are pulled back and anyone can see who we are, what we want to do, and how we plan to run things.

Read Our Plan

Marketing Study

In August of 2013, our ideas for the privatization of Toledo’s airport operations began to gain traction. To gain even more understanding of what opportunities existed for Toledo’s airports, we hired one of the best aviation consultants in the world, Michael Hodges of Airport Business Solutions, to conduct a full marketability study for both airports. At our expense, Mr. Hodges visited Toledo, toured both airports, and spent considerable time meeting with us and business leaders at both airports to discuss the problems they face under current conditions, their plans for the future, and what we could do to help them achieve those goals. This document provides background information on the various aspects of aviation in the United States, from general aviation to international air cargo, and outlines all the various opportunities for marketing Toledo’s airports.

Read The Study

*It has been brought to our attention that edits made during the finalization process did not update properly. Due to this fact, the document originally released contained outdated information. We’ve corrected the document, and apologize for the error.
Who We Are

The history of our group’s owners in Toledo goes back more than forty years.

While we are predominantly known as a family-owned financial services firm, our partners have diverse backgrounds educationally, occupationally, and geographically. Our histories range from the mountains of Tennessee to the shores of Biscayne Bay, and from Miami University to the University of Miami. From multinational medical suppliers to independent oil companies and residential real estate development to commercial property management, our investors have gathered diverse experiences and personal networks which provide them with unique positioning to make Toledo’s Airports successful.


Q:Will privatization mean the end of passenger service at Toledo Express?
A:No, not at all. We and our consultants believe that under private control Toledo Express can do far more to attract new commercial carriers, and also add alternative types of passenger service at both Toledo Express AND Toledo Executive, using little-known sections of FAA regulation previously unexplored by the Airports’ current operator.
Q:Why has it been said that plans were hidden from City Council?
A:Nothing has been hidden from City Council (or the public) – and nothing will be hidden from them. The only reason members of Toledo City Council – who will need to approve our privatization plans – did not see a public presentation of our plan is that our plan was not yet finished.
Q:What financial burden do the airports impose on taxpayers, and how does that compare to the risks that come with privatization?
A:Together, Toledo Express and Toledo Executive represent tremendous financial burdens for Lucas County taxpayers. In 2013 alone the current operator – which is funded by taxpayers – budgeted for about $750,000 in operating losses from the airports; and that is in addition to all the millions of dollars that have been spent building up the airports over the past 40 years. Privatization, on the other hand, would relieve taxpayers of having to pay for any operating deficits. In fact, it would lead to considerable property development, which would increase property tax revenues paid to Lucas AND Wood County. If the private operator fails, management can revert to the City of Toledo or Toledo-Lucas County Port Authority without any negative impact on taxpayers.
Q:Who are the investors who want to privatize Toledo’s Airports?
A:The investors who make up our companies are Benjamin Treece, Cynthia Treece, Dock D. Treece, and Dock David Treece. Over the years the City and Port Authority have reached out to a number of private airport operators across the country about bringing them to Toledo to run our airports. However, none have been interested. We reached out to the City and Port Authority on our own, put together our own plan, and spent our own money to do so.
Q:What will happen to employees who currently work at Toledo Express or Toledo Executive?
A:First let us state categorically: We are not going to fire anyone. Under the original 1973 lease that the City of Toledo signed with the airports’ current operator, when that lease is cancelled the Port Authority will be given the opportunity to reassign all its employees to other departments. All of those employees who are not reassigned will revert to being City employees when the Port Authority’s lease officially ends.
Q:What does this group know about airport management?
A:As is outlined in our Summary of Qualifications, our investors have decades of experience in both aviation and in property management. While most people only know us for our investment management business, we run or have run many businesses, including several which are aviation-related. In fact, we have far more experience in aviation than the entire board of the current operator put together. However, we are also aware that there are many things we do not know – but we have consultants who are available to us. Some have even told us they want to help, but refuse to get involved with Toledo’s airports so long as the current operator is in control.
Q:Will Toledo Express become a commercial passenger hub or an air cargo intermodal facility?
A:Both. We believe successful airports include a good mix of several different types of business. Otherwise, the first time there is an economic downturn, operations at airports cease and the operator fails. We know there is a lot we can do to encourage cargo and passenger service – plus lots of other opportunities – at Toledo’s airports.
Contact Us
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