Third Frontier Helping Bring New Innovation to Ohio
The Ohio Third Frontier Commission has approved more than $9 million to attract new technology companies to the state, support existing companies in creating new products and getting innovative ideas to the marketplace.
Ohio is an attractive place to do business and develop cutting-edge technologies, said David Goodman, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission. We will continue to support Ohios growing technology economy.
2014 Ohio Third Frontier Targeted Industry Awards
The Targeted Industry Attraction Grant is designed to encourage high technology companies to locate their manufacturing, research and development, headquarters and other operations in Ohio.
Smithers Rapra, located in the United Kingdom, was awarded $100,000 to offset a portion of the nearly $2 million cost of establishing a new laboratory in the Akron/Ravenna (Summit County) area. The company offers testing, analysis, processing and research for the polymer industry, and other industries using plastics and rubber in any component, product or production process. Smithers Rapra is expected to create 14 new Ohio jobs.
Xerion Advanced Battery Corporation (ABC), headquartered in Westminster, Colorado with laboratory and operations in Champaign, Illinois, was awarded $495,400 to offset the $1.1 million cost of relocating to the Dayton (Montgomery County) area. Xerion ABC is an early-stage company that is developing Lithium Ion batteries based on technology which is licensed from the University of Illinois. Xerion ABC is expected to create 52 new Ohio jobs.
2014 Ohio Third Frontier Industrial Research and Development Center Awards
The Ohio Third Frontier Industrial Research and Development Center makes Ohio organizations more competitive for the attraction of major corporate, nonprofit or federal Research and Development centers.
Emerson Climate Technologies was awarded $5 million to collaborate with the University of Dayton to build the new Emerson Innovation Center in Dayton (Montgomery County). The center will focus on developing best-in-class heating and cooling systems, controls and thermostats. The center will be used to test how these new products perform under different heating and cooling environments; replicating a supermarket retail store, a commercial food service kitchen (restaurant), a residential home, a light commercial office space, and a data center. The Innovation Center will cost a total of $34.5 million, and is expected to create 35 new jobs.
GE Aviation was awarded $2.5 million to modify an existing facility in West Chester (Butler County). The new GE Aviation Additive Development Center will focus on manufacturing research and development to produce high volume engine components, with an initial emphasis on jet engine fuel nozzles. The project will cost $139.53 million, is expected to create 53 new jobs and retain 87 existing jobs.
2014 Ohio Third Frontier Commercial Acceleration Award
The Ohio Third Frontier Commercial Acceleration Loan Fund helps Ohio companies develop high-tech products and processes where they may otherwise have difficulty securing funding because of the financial risk associated with developing technologies.
SmartCrowdz, LLC, located in the city of Columbus (Franklin County), was awarded a $1 million loan that will support the development of the companys mobile technology platform. The platform helps people run events from start to finish, including marketing, planning and managing the event and handling the finances.