LIMA, Ohio — In a major win for Northwest Ohio, Fifth Third Bank (FITB) has officially named the City of Lima as the inaugural site for its “Small Towns & Small Cities” initiative. The four-year commitment is designed to pump massive capital and expert resources into communities that have historically faced disinvestment.
The announcement, made yesterday, marks a shift in Fifth Third’s strategy from urban centers to the “heartland” hubs of Ohio.
The “Better Together” Partnership
The initiative is designed to accelerate Mayor Sharetta Smith’s “Better Together” Plan, a locally led strategy focused on revitalizing neighborhoods and modernizing aging infrastructure.
“Lima is a resilient community with a proud industrial tradition,” said Kala Gibson, Fifth Third’s Chief Corporate Responsibility Officer. “We’re proud to invest our capital and expertise to help accelerate local priorities and deliver lasting opportunities for residents.”
What This Means for Lima Residents
Over the next four years, the bank will deploy a “full suite” of economic tools to move the needle on local quality of life. Key focus areas include:
- Housing & Homeownership: Increasing access to mortgages through special credit programs and financing new housing developments to stabilize neighborhoods.
- The “Pitch Competition”: Supporting local entrepreneurs with a small business competition awarding $53,000 in grants and capacity-building scholarships.
- Infrastructure & Utilities: Providing support to make water and energy more affordable for residents while strengthening aging neighborhood infrastructure.
- Workforce Training: Partnering with JobsOhio to create training pathways that align with Lima’s specific industrial and workforce needs.
A Proven Track Record
This new program builds on the success of the Fifth Third Neighborhood Program, which has invested nearly $410 million in urban communities across the U.S. since 2021. By selecting Lima as the first small-city location, Fifth Third is betting on the “transformational momentum” currently happening in Allen County.
“We’re grateful for a partner that understands economic mobility is built at the local level—on our blocks and in our neighborhoods,” said Mayor Smith. “Together, we will turn this momentum into measurable results that residents can see and feel in their everyday lives.”
