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The event will return next July for a 26th year.

TOLEDO, Ohio (AP) - Organizers of the LPGA's Jamie Farr Owens Corning Classic say the event will return next July for a 26th year.

The announcement on Wednesday ends months of speculation about whether the tournament held in suburban Toledo would join other LPGA tournaments that have folded in the last year. Tournament host and actor Jamie Farr gave it a 50-50 chance of being around next year when he was asked about the event's future earlier this year.

The LPGA Tour's economic challenges led to the resignation of commissioner Carolyn Bivens in July after many top players complained about the dwindling number of tournaments.

The Corning Classic in Corning, N.Y., ended in May after 31 years when its title sponsor called it quits.

News of the Farr's return to Highland Meadows has everyone in Sylvania smiling, especially business owners. Business owners say they're elated the tournament, its players, sponsors and fans will be coming back next year.

Lunchtime is crunch time at Chandler Café on Main Street in Sylvania. And the owners are now looking forward to an even bigger crunch time next summer! "We were all relieved. That's the first thing we talked about, my partners and I this morning, was that it's a good thing for next year for us," says Mary Blaisdell, co-owner Chandler Cafe.

That "good thing" is the Farr, a tournament that celebrated its 25th year here in July. Until today, no one knew if it would be back. Mary says, "We have a little downtown merchants' association and that's the first thing we discussed after the Farr this year was, oh my gosh, what are we going to do next year? It was a good bit of news for us that they're coming back."

Coming back means bringing in tourists, sponsors and money, things the businesses in this community count on every summer. Laura Nowak-Glover of the Sylvania Area Chamber of Commerce says, "It generates usually about a half a million people coming to the area and, obviously, millions of dollars."

Some of those dollars go into Chandler Cafe's coffers. Mary says, "It's a lot busier. We have a lot of people who just like to park and walk through downtown Sylvania. But they also come and shop after and before practice rounds and grab a bite to eat or coffee on the way."

Sylvania actually got two pieces of good news today. First, that the Farr is returning next summer. Second, that Sylvania has been named one of Ohio's best hometowns by Ohio Magazine and will be featured on the cover of the November issue.

(Copyright ©2010 by The Associated Press. All Rights Reserved.)

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