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At a press conference, police said that two of the victims are in critical condition and that those injured range in age from 14 to 61.
The search for suspects is ongoing, with Deputy Police Chief Joseph Heffernan describing the investigation as “very active”.
“We have some evidence and are pursuing some leads,” he said.
Police Lieutenant Dan Gerken said investigators are speaking to a number of people and reviewing CCTV footage.
George Kral, Toledo’s Director of Public Safety, issued a public appeal for mobile phone footage to help police identify and locate the suspects.
In a Facebook post, the Toledo Police Department said officers were dispatched at about 5:37pm after reports of a shooting near the Old West End Festival.
The department added that several victims were taken to nearby hospitals for treatment.
Separately from the Toledo incident, the Gun Violence Archive has recorded 171 mass shootings in the United States so far this year.