“You gotta spend money to make money” Ohio’s Third Frontier
This May, the Ohio legislature would like to request Ohioans approve a $700 million dollar bond issue (Issue 1) to renew the state funding of this program that has created thousands of new Ohio jobs. The Bond issue will allow the state to extend the Third Frontier program from 2012 through 2016. This program has awarded nearly $6 billion dollars to nearly 600 companies according to Lisa Patt-McDaniel, director of the Ohio Department of Development. Those companies have used the funds to raise nine-times that amount in private investment and the program is credited with creating nearly 50,000 jobs.
“When you’ve got something that is successful, now is the time to take advantage of the opportunity,” said Jo Ann Davidson, a former Ohio House speaker and Republican National Committee co-chairwoman.
Just last Monday, Dayton businesses received an award of $5.4 million to study advanced material research and development. This money will help to fund research within our public universities (Wright State, UD, Sinclair, etc.) as well as privately held companies like YSI in Yellow Springs, Innova in Centerville, Persistent Surveillance Systems in Xenia, Beavercreek-based Materials Research Institute and Springboro-based Renegade Materials Corp along with about 20 other area companies.
Last week’s awards are part of nearly $5 million in funding through the Ohio Third Frontier Sensors Program and more than $5.7 million in funding through the Ohio Third Frontier Advanced Materials Program.
Voters will have the opportunity to approve Ohio’s venture capital funding of small research and development firms that will help to spur additional private investment and growth for area businesses.
Can we Please move the Casino?
Detractors of Ohio casino gambling last November rallied to ensure that having specific businesses (casinos) indicated in specific areas (Columbus, Cleveland, Cincinnati and Toledo) would not be added to the Ohio Constitution. Their major concern was that it was a very narrow amendment being added to a very important and broad document.
The voters in November however did approve the amendment to Ohio’s governing document. Unfortunately the leaders in Columbus are now unhappy with the placement of the Casino in the Arena District, and by joint resolution are requesting that it be moved to the outskirts of town as to not disturb the family-friendly environment. If the voters don’t want to vote in favor of this new amendment of the State Constitution, the casino will begin digging downtown in the Arena District.