PolymerOhio Awarded $1.5 Million Grant to Attract Businesses to Ohio
DATELINE: WESTERVILLE, Ohio Feb. 28
WESTERVILLE, Ohio, Feb. 28 /PRNewswire-FirstCall/ -- PolymerOhio, a statewide network of polymer-related companies, today announced an award of $1.5 million from the Third Frontier Project. The grant will be used to establish PolymerOhio Company Attraction, an organization dedicated to attracting advanced polymer companies to establish operations in Ohio.
Polymers represent unique economic opportunity
The polymer industry is currently Ohio's largest manufacturing industry cluster, with 140,000 employees in 2,800 companies. A continual stream of new technology and applications provides for ongoing growth and vitality.
"PolymerOhio Company Attraction will leverage the state's extensive polymer assets to attract new businesses to Ohio," said Wayne Earley, president of PolymerOhio Company Attraction. "Our vision is for Ohio to become the primary destination for business operations expansion for businesses in target segments of the polymer industry. This can ultimately have significant impact on the long-term health of Ohio's economy.
"PolymerOhio has in-depth knowledge of the polymer industry, a high level of expertise in polymer and polymer-related technologies and experience managing business organizations and economic development organizations," Earley said. "Because of this, PolymerOhio has developed relationships with key Ohio, national and international leaders in the polymer industry."
Collaborative effort
PolymerOhio Company Attraction will work in partnership with Ohio's local, regional and state economic development groups. PolymerOhio will also serve as a collaborator with Omeris, the recipient of a similar grant to attract bioscience companies, some of which will have polymer-related applications. Activity and funding for both programs will begin in the second quarter of 2007.
The company attraction programs being led by PolymerOhio and Omeris will complement current Ohio economic development efforts, namely the Ohio Business Development Coalition's "Why Ohio?" marketing campaign. Both programs will utilize lead management tools maintained by the Ohio Department of Development.
Polymer industry acknowledged as a powerful force
The polymer industry has won a major share of Third Frontier grants over the past two-three years. These grants were highly competitive and were reviewed by the National Academy of Science (NAS) and other third parties. In addition to the PolymerOhio Company Attraction award, the polymer industry recently received the approval of the Third Frontier Commission for three additional polymer projects and played a key role in a fourth, totaling more than 60 percent of the state's Research and Commercialization awards. This demonstrates the near-term commercial opportunity for growth.
About Third Frontier
Ohio's Third Frontier Project has invested a total of $632 million since it was launched in 2002. To date, Third Frontier investments have leveraged $945 million in private and federal investment in Ohio, attracted or created more than 200 companies and retained or created more than 2,600 jobs with an average salary of more than $63,000 per year.
About PolymerOhio
PolymerOhio Inc. is a statewide organization that works to grow and support the polymer industry. It connects and networks companies, individuals and groups across Ohio to increase the rate of growth and adoption of new technology and create products, services and competitive advantage. The organization is committed to enhancing the global competitiveness of the polymer industry, including companies from the plastics, rubber and advanced materials segments. More information is available at http://www.polymerohio.org/ .
Notes to editors
1. It is estimated that Ohio's polymer industry currently generates $49
billion in annual revenues and $5.6 billion in salaries for its
workers.
2. The Northeast Ohio Polymer Strategic Opportunity Roadmap (prepared by
Battelle in 2004) estimated that the industry could add 10,000 jobs in
northeast Ohio alone by 2010.
3. The forecasted worldwide growth of the U.S. polymer industry is 3-4
percent per year until 2020, three times the growth rate of other
basic materials.
CONTACT: Wayne Earley, Executive Director of PolymerOhio, Inc., cell
+1-614-657-3137, or waearley@aol.com ; or Donna Shelley, Director Public
Relations of Innis Maggiore, +1-330-492-5500, or donna@innismaggiore.com , for
PolymerOhio Inc.
Web site: http://www.polymerohio.org/
SOURCE PolymerOhio Inc.