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Ohio's Bioscience Industry Effort Paying Off With Increase in Graduates and Accolades for the State
Date:12/19/2011

06, the number of earned degrees has increased by nearly 26%. This is good news for growing bioscience companies already in Ohio as well as those outside of Ohio looking for fertile ground to expand. Educated and abundant talent is in Ohio, and ready to work.

Abundant access to capital through private sources and state programs such as Ohio Third Frontier is another factor fueling growth of Ohio's biomedical science industry. Between January 2002 and June 2010, over $650 million of Ohio Third Frontier funds were competitively awarded to support bioscience-related development and commercialization initiatives. In May 2010, Ohioans voted to extend the Ohio Third Frontier with an additional $700 million over four years starting in 2012. This expansion will use debt financing to help fund "innovation centers" at state universities and invest in start-up companies involved in biomedical, alternative energy and other high-tech fields, anticipating these investments will continue to grow and develop quality jobs.

Bioscience companies located in Ohio also benefit from the state's central location supported by a world-class logistics infrastructure, easy access to markets and supply chains, a highly skilled workforce, and public/private sector leadership committed to business and policy innovation across diverse economic sectors.

Ohio's success is not solely dependent on the strength of its business advantages. Today's bioscience graduates and industry leaders have made Ohio a top choice to pursue their personal goals as well.

"It's impossible to achieve work-life when commuting takes two to four hours out of each work day, as it easily can in coastal cities and states," said Ed Burghard, executive director of the Ohio Business Development Coalition, the nonprofit organization that markets the state for capital investment. "In Ohio, you hav
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SOURCE Ohio Business Development Coalition
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