Third Frontier Boasts Job Creation
Posted by - 03.25.2010
Northeast Ohio and there is probably no more effective partner in this effort than the state's Third Frontier program. According to a new report issued by the Department of Development, Third Frontier's investments in cutting edge research, innovation and commercialization has helped create 55,000 jobs in the state. The report said the report 637 companies have been created, attracted to or capitalized in Ohio as a result of the program. Additionally, the more than $548 million in program funding spent through December attracted nearly $4.8 billion in follow-on private investment.
"Our latest results show the program works and is making a difference in the lives of Ohioans as we continue to help bring Ohio and the rest of the country out of the clutches of one of the worst economic downturns in 70 years,” said Lisa Patt-McDaniel, director of the Department of Development said in a released statement accompanying the job results.
The Fund for Our Economic Future and many other partners in Advance Northeast Ohio have endorsed the state Legislature's plan to sell $700 million in bonds to finance the continuation of the Third Frontier program. The bond issue must be approved by Ohio's voters and the Third Frontier vote is Issue 1 on the May 4 ballot.
Visit United for Jobs Ohio to learn the three reasons you should vote for Issue 1.
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