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Ohio Investment to Exceed $50 Million in FY 2000

July 02, 1999
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Ohio's investment in technology-based economic development will top $50 million in FY 2000 as a result of the biennial budget passed by the Ohio General Assembly this week. Spending for the programs will grow nearly 35 percent from $40.4 million in FY 1999 to $54.4 million in FY 2000.

Most of the increase is as a result of the Ohio Technology Actions Grants (TAGs) Program, growing from $1.9 million in FY 1999 to $14.75 million each year for FY 2000 and 2001.

The Technology Action Grants (TAGs ) provide funding to companies, universities and collaborative partnerships for projects which:

  • leverage federal and industrial support;
  • provide a potential return on investment to the state's economy;
  • are able to become independent of state funds within a short time period; and,
  • focus on regional or statewide clusters of technology strengths or needs.

The TAGs will be administered by the Governor's Office for Science & Technology with staff support from the Department of Development and the Board of Regents.

New this year for the TAGs will be a Technology Action Board comprised of 14 members appointed by the Governor. The board will review proposals and make funding selections for the program.

The Technology Action Board will consist of six regional, technology-related business representatives, and one representative from each of the following organizations: Wright-Patterson Air Force Laboratory, NASA Glenn Research Center, the Ohio Inter-University Council, and the current director of the Edison Centers Technology Council. The remaining board members will be state employees representing the Chancellor of the Ohio Board of Regents and the Departments of Development and Transportation. The final member, the Governor's Science and Technology Advisor, will serve as the Board's chair.

New efforts joining the established portfolio of programs are a $500,000 per year cooperative technology clusters initiative and an Edison Center for Information Technology. The new Edison Center will receive $2 million each year in state matching funds.

Ohio