Kaden went south. We just got back. Toledo Money travels in shifts.

The region didn't slow down while we were gone. Two acquisitions landed this week, and we've got a conversation with the man running the most important talent engine in Northwest Ohio.

Levis Commons has a new landlord. Hill Partners — which has owned and managed the Perrysburg open-air mall since 2004 — is selling to Tanger, a national outlet operator expanding its open-air footprint. We're working our network to get a sit-down with their PR firm. More to come. Check out the interview in the Money Snacks section with the Tanger CEO outline the firm’s new strategy to unlock more growth.

Then there's Allegiant — the only airline flying scheduled routes out of Toledo Express. They just closed a $1.5 billion acquisition of Sun Country Airlines, creating a combined carrier serving nearly 175 cities across more than 650 routes. A bigger Allegiant means more network, more leverage, and more reason to push for routes this market deserves.

And the main story this week: University of Toledo CFO, Matthew Schroeder. The number that anchors it is $2.8 billion in regional economic impact — but the more interesting angle is what he calls being a net importer of talent. If you've spent time on campus lately, you already feel it.

Let's get into it.

We’re also excited to continue our partnership with: The Greens at Oak Openings. We’re grateful to have them onboard as the latest supporter of the Toledo Money publication and what we’re building here in Northwest Ohio.

Owens Corning | $OC ( ▲ 2.12% )

Dana Incorporated | $DAN ( ▲ 0.82% )

The Andersons | $ANDE ( ▲ 0.85% )

Owens Illinois | $OI ( ▼ 1.23% )

Welltower Inc. | $WELL ( ▼ 1.09% )

Marathon Petroleum Corporation | $MPC ( ▲ 1.29% )

First Solar | $FSLR ( ▼ 3.51% )

Running a modern university is no longer just about classrooms and lecture halls. At the University of Toledo, financial leadership means balancing higher education, healthcare delivery, and regional workforce development, all under one institutional roof.

With an annual operating budget of approximately $1Bn, more than 5,000 employees, and an academic medical center anchored by a +200 bed hospital, the University of Toledo today operates at a scale comparable to many mid-sized enterprises.

Schroeder’s path to the CFO role reflects the type of internal development culture he now champions.

Born and raised in Northwest Ohio, his career began at the former Medical College of Ohio, an institution that later became part of the University of Toledo.

Rather than a single defining moment, Schroeder describes his career as a series of opportunities, each requiring risk and responsibility.

“Over time, you take risks, you move the organization forward, and that compounds,” he said. “That’s how trust is built, both internally and with leadership.”

That philosophy helps shape how the university looks to develop its own workforce.

“We often focus on building from within,” Schroeder said, noting that younger professionals often find long-term career growth opportunities within the institution.

While managing a billion-dollar operation carries obvious financial complexity, Schroeder said what surprised him most upon stepping into the CFO role wasn’t the numbers, rather it was the reach.

“The impact the University of Toledo has across Northwest Ohio is impressive,” he said.

Today, the university serves more than 14,000 students and functions as a major talent pipeline for the region. Schroeder describes the institution as a net importer of talent, helping fuel industries that rely heavily on skilled workers.

Retention, he believes, remains one of the most important economic variables in Northwest Ohio.

“The grit here in Northwest Ohio is what produces success,” Schroeder said.

Financially, the University of Toledo operates through three primary pillars:

Among those, healthcare now plays the dominant role.

Approximately 60% of institutional revenue originates from clinical operations, with the remaining 40% generated through academic programs, tuition, research funding, and auxiliary services.

Across all divisions, the largest investment is not infrastructure: it is talent.

Schroeder noted that more than 75% of academic spending is tied to personnel, while over half of clinical expenses support the workforce delivering care.

“The strength of any institution comes down to talent,” he said. “You have to invest in people.”

The University of Toledo operates its own academic medical center, a structure that introduces both opportunity and complexity.

The University of Toledo Health is anchored by a 200+ bed teaching hospital that serves as both a clinical provider and a training ground for future healthcare professionals.

Schroeder sees the clinical enterprise as central to the university’s long-term strategy, not just financially, but academically.

Research, training, and patient care remain tightly linked.

Few developments have reshaped university finance in recent years more dramatically than the rise of Name, Image, and Likeness (NIL) compensation and revenue share in collegiate athletics.

Schroeder describes both as a structural shift, one that forces universities to rethink how athletic programs create value.

“You can’t just sell tickets or suites anymore,” he said.

That shift requires creativity, partnerships, and stronger engagement with alumni and donors.

Locally, Schroeder believes community support remains a powerful advantage.

“Toledoans look out for Toledoans,” he said. One recent example includes the development of the Courtside Club at Savage Arena, a collaborative effort designed to enhance the game-day experience while strengthening long-term revenue opportunities.

Beyond its financial footprint, the University of Toledo plays a central role in shaping the regional workforce.

Many graduates remain in Northwest Ohio, entering industries that depend on skilled talent across healthcare, engineering, manufacturing, and business.

For Schroeder, that long-term workforce impact is one of the university’s most important contributions to the region’s economic future.

“It’s a great time to be at the University of Toledo,” he said.

“We are growing the impact the university has for students, donors, patients and the community.”

Here are a few headlines we are snacking on

This summer, a familiar corner at Airport Highway and 20A is being reimagined into something entirely new.

The Greens at Oak Openings has transformed the former Charlie’s property into an 8-acre destination built around family-friendly entertainment and casual dining. The concept serves as an umbrella brand, bringing together mini golf, food, coffee, and dessert into one cohesive experience designed for repeat visits.

At the heart of the property sits The Nest, a central hub offering multiple food and beverage options under one roof. Guests can start their visit with coffee from Revival Coffee, grab a meal from Scorecard Eatery which is featuring smash burgers, JoJo’s pizza, and classic ballpark favorites or finish with ice cream from Toft’s Dairy, a Northwest Ohio staple. A rotating selection of novelty frozen treats, known as Tee Time Treats, rounds out the offerings.

The anchor attraction is an 18-hole mini golf course, designed to complement the dining experience and create a destination where families, groups, and visitors can spend an entire afternoon or evening.

Founded by Kevin and Mandi Martin, The Greens at Oak Openings represents a local reinvestment into a well-known property, turning a once-familiar site into a new gathering place for the community.

Follow The Greens at Oak Openings on Facebook for opening updates, hours, and upcoming events.