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Ohio Becoming Global Hub for Biomedical Research and Commercialization
Date:11/12/2008

Akron General Health System, Northeastern Ohio Universities Colleges of Medicine and Pharmacy (NEOUCOM), Summa Health System and The University of Akron. Faculty members will include researchers, physicians and educators from the partner organizations.

The John S. and James L. Knight Foundation led the funding effort to create the BioInnovation Institute with a $20 million grant. Supporting partners have secured $80 million overall for the project. The state of Ohio also has contributed more than $8 million through the Ohio Third Frontier Project, a 10-year, $1.6 billion initiative to help catalyze connections between companies and academia. The project is the state's largest-ever commitment to expanding high-tech research capabilities and promoting innovation and company formation that will create high-paying jobs for generations to come.

"Ohio leads the world in advanced materials capability and is rapidly becoming a global leader in the bioscience industry. The cross fertilization of knowledge between these two industries has the potential to lead to commercial innovations that will dramatically improve lives. It will also stimulate new capital investment in our economy," said Ed Burghard, executive director of the Ohio Business Development Coalition. "Companies are attracted to the bottom-line benefits generated from the superior work-life balance found in Ohio. Ohio's low-cost, low stress communities and combination of micropolitan and metropolitan cities provides executives and employees the resources and time to make any ambition achievable. Ohio truly is the state of perfect balance."

About the Ohio Business Development Coalition

The Ohio Business Development Coalition is a nonprofit organization that markets the state for capital investment. The OBDC provides marketing strategy and implementation to support Ohio's economic development efforts. For more information on business development or business relocation, visit

SOURCE Ohio Business Development Coalition
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