JobsOhio, University of Cincinnati and Cincinnati Children’s Unveil the Cincinnati Innovation District™
Unique public-private partnership aims to accelerate more than 15,000 STEM graduates and $2 billion in research to bring up to 20,000 new jobs and $3 billion in annual economic impact
FOR IMMEDIATE RELEASE March 6, 2020 Release
CINCINNATI, Ohio — Ohio Governor Mike DeWine, Lt. Governor Jon Husted, JobsOhio, the University of Cincinnati and Cincinnati Children’s Hospital Medical Center announced a first-of-its-kind partnership designed to build, retain and attract talent to Ohio by formally introducing the Cincinnati Innovation District™.
Anchored by the University of Cincinnati and Cincinnati Children’s, Cincinnati Innovation District™ will serve as a ‘blueprint’ for the state and ensure Cincinnati becomes a magnet for talent that attracts Fortune 500, mid-size and developing start-up companies.
“In partnering with the University of Cincinnati and Cincinnati Children’s to create this Innovation District, we are investing in opportunities for students and incumbent workers to build a successful career in Ohio, while unleashing the research and innovation happening on our university campuses and hospitals to help drive job creation,” said Governor Mike DeWine.
Talent is attracted to collaborative and innovative environments, and companies are attracted to locations that have this talent. Ohio’s research institutions are the state’s economic engines to fuel current and future needs of organizations. The University of Cincinnati and Cincinnati Children’s contribute more than $450 million annually in research. This research results in discoveries that become the basis for innovative startups in the tech and healthcare sectors.
“The three most important elements to developing a vibrant, modern economy are innovation, talent and investment,” said Lt. Governor Jon Husted. “Today’s announcement represents an aggressive effort to build our capacity and align these resources to create a world-class innovation district in Cincinnati. Great ideas must find a way from the lab to the marketplace if they are to improve the quality of life for the public and create jobs and economic opportunity. This innovation district will make this process faster and more effective.”
The catalyst within this partnership will be JobsOhio investing up to $100 million that aims to, over the next 10 years, result in up to 15,000 STEM graduates as well as the execution of $2 billion of research and real estate development within the Cincinnati Innovation District™, ultimately resulting in an estimated 20,000 new jobs and $3 billion of annual economic impact. JobsOhio investment will be paired with investments the University of Cincinnati and Cincinnati Children’s will be making to scale their respective operations. The Cincinnati Innovation District™ positions our region to compete at a national and international level for talent and the companies that seek that talent.
“To compete and win, we must invest in research and talent while establishing vibrant, amenity-rich communities to realize our long-term vision of making Ohio the best place in the country for tech and life science jobs,” said J.P. Nauseef, JobsOhio president and chief investment officer. “We applaud UC, Cincinnati Children’s and the many partners who have stepped up and made significant new investments to drive these outcomes.”
"We are energized by JobsOhio’s commitment to research and innovation,” said Michael Fisher, president and CEO of Cincinnati Children’s. “This unprecedented investment will help us continue to attract, retain and inspire exceptional talent from around the world; accelerate new discoveries, treatments, and cures; and, most importantly, make a difference in the health and lives of children in Ohio, and well beyond. We are very grateful for this exciting new partnership.”
The University of Cincinnati developed an innovation district blueprint through the creation of the 1819 Innovation Hub and the developing Digital Futures complex. These sites have already attracted Fortune 500 companies, small- and mid-sized companies and generated significant start-ups. Through this co-located ecosystem, UC has leveraged its economic engine to strengthen the Ohio economy. The storied history of UC’s innovation expertise is long-standing, making the vision of attracting even more industry and the talent to serve them a reality.
“We are humbled and inspired by this historic investment in our Next Lives Here vision for talent, research and innovation," said UC President Neville Pinto. "The nimble, forward-thinking, results-driven work of JobsOhio has never been more important or appreciated. Our highly innovative partnership with them, fully supported by the Governor and Lieutenant Governor, will transform the University of Cincinnati’s impact for generations to come.”
The district is expected to attract significant investment in mixed-use buildings that will provide office/lab, retail, housing and nightlife that will make the area attractive to job creation, private investment, and talent seeking an urban experience.
“The Cincinnati Innovation District is the next big thing for Cincinnati’s growth," said Cincinnati Mayor John Cranley. "This partnership among the state, JobsOhio, the city, the University of Cincinnati, and Cincinnati Children’s Hospital will pay dividends for decades to come.”
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