Convergence of factors powers the innovative ecosystem’s competitive advantage in Ohio

Innovation, the driver of transformative change, is a collaborative endeavor that thrives in environments that cultivate creativity, competitiveness and the celebration of novel ideas. Fostering this competitive edge is just as essential for states as for individuals and enterprises because technological advancement, economic growth and vibrant communities emerge when public and private sectors make a concerted effort to embrace change and take on new challenges.

As witnessed in Silicon Valley, innovation thrived as many individuals converged in a single location, creating a dynamic playground for groundbreaking ideas. Over time, crowding and finite infrastructure made accessing this innovation ecosystem increasingly tricky. The landscape in today's market has changed, leading enterprises and individuals to seek new, fertile grounds for innovation, with many finding Ohio as the emerging hub to call home. In Ohio, innovation is more accessible to all. Diverse regions host rich talent pools of forward-thinking individuals and world-class research institutions. Ohio provides an environment where ingenuity can flourish, and people can live without the constraints often associated with high-cost coastal areas.

Ohio has rolled out the welcome mat for new ventures and talent. The state's proactive facilitation of site preparation, infrastructure and workforce readiness, along with its low cost of doing business and appealing quality of life, has allowed it to secure an outsized share of industrial reshoring and onshoring. Just in the past few years, Abbott, Amgen, AWS, First Solar, Ford, Google, GM, General Mills, Honda+ LG Energy Solution, Intel, Illuminate USA, Joby Aviation, Medpace, Microsoft, SEMCORP, Sierra Nevada Corp., and Ultium Cells have all made significant CAPEX (capital expenditure) investments in new facilities statewide.

Ohio is doubling down on that strategy with a new All Ohio Future Fund that will invest $750 million to support the development of large-scale economic development sites prepared for major projects such as semiconductor fabrication, critical suppliers and other advanced industries.'

Innovation Districts and hubs expand opportunities

Also attractive is the $3 billion investment underway to develop three Innovation Districts that will catalyze new discoveries, new companies, new jobs and more than 47,000 additional STEM graduates. The Cincinnati Innovation District, anchored by the University of Cincinnati and Cincinnati Children's Hospital Medical Center, focuses on pediatric cancer research and treatment. In Cleveland, the Innovation District, anchored by the Cleveland Clinic, Case Western Reserve University and Cleveland State University, addresses pathogens, virology and global health. The Columbus Innovation District, anchored by The Ohio State University and Nationwide Children's Hospital, centers on interdisciplinary research and high-tech therapies.

Ohio is also encouraging the development of innovation hubs across the state. JobsOhio, the state's private nonprofit economic development corporation, complements these government efforts with the JobsOhio R&D Center Grant Program and the JobsOhio Growth Capital Fund, which support new strategic corporate R&D centers and help early-stage companies develop and commercialize emerging technologies.

These innovation attraction and incubation strategies are working. Ohio is now home to the National Advanced Air Mobility Center of Excellence, the NASA Glenn Research Center and a new battery cell research and development center established in the Columbus Innovation District at Ohio State University, to name just a few.

Most recently, Ohio was designated one of eight regional "hubs" fo r the Microelectronics Commons (ME Commons) program of the Department of Defense, which is backed by $2 billion in federal CHIPS (Creating Helpful Incentives to Produce Semiconductors) and Science Act funding. Ohio spearheaded the formation of the Midwest Microelectronics Consortium (MMEC), a multistate initiative comprising over 65 entities that places Ohio at the center of a national network aiming to revolutionize the "lab-to-fab" microelectronics research and product development for civilian and defense applications.

Ohio offers unparalleled advantages for companies seeking sites to expand or relocate to take advantage of these and other opportunities to be a part of the state's thriving innovation economy. JobsOhio stands ready to help with economic development grants and concierge services, a refreshing alternative to the bureaucratic red tape found elsewhere.

Assistance and incentives are also available to entrepreneurs, engineers and other talented candidates seeking exciting roles at and around Ohio companies, such as the many powerhouses enumerated above. JobsOhio makes talent recruitment and matching services such as Find Your Ohio easy.

Ohio has evolved into a haven for innovation, cultivating a culture that empowers large and small companies to flourish. Through the convergence of talent, academic research, collaborative innovation spaces and a pro-business ethos, Ohio has quickly become an economic center of excellence at the heart of our nation - and the trend is only the beginning.