GCP, eight other Ohio chambers pledge support to help place Third Frontier renewal on 2010 ballot

Wednesday, December 16, 2009

Cleveland, Ohio—The Greater Cleveland Partnership has joined with eight other Ohio chambers of commerce to urge that the Ohio Third Frontier renewal issue be placed on the ballot in May 2010. They also pledged to support the campaign for passage of the issue. In a letter to Gov. Ted Strickland, Ohio Speaker of the House Armond Budish, Ohio Senate President Bill Harris and Ohio Board of Regents Chancellor Eric Fingerhut, the leaders of the nine organizations said that the Third Frontier initiative—with its focus on technology-based research, innovation and product development—is “the best course for creating jobs at a time when there are few other alternatives.”

The chamber executives noted that “as representatives of Ohio’s employers—large and small—we believe that no program is more important to our future.” A research report released last week by the Ohio Business Roundtable, found that as of June 30, 2009, the Ohio Third Frontier has attracted $3.2 billion in follow-on dollars on top of the $473 million it has expended. The report also found that Ohio’s high-tech employment in the five target clusters (advanced energy; advanced materials; biomedical; instruments, controls and electronics; and power and propulsion) has grown significantly from 2004-2008 and faster than all other Midwestern states except Wisconsin. In addition, the report says that, since 2003, venture capital investment in Ohio grew at a 20.4 percent compound annual growth rate, versus 8.6 percent in the U.S. overall.

“The Third Frontier program has been and can continue to be an economic engine for Ohio,” said GCP President and CEO Joe Roman. “We’re pleased to join with our chamber partners in the state to support getting this important issue on the May ballot and explaining to voters why its passage is so important for job creation and investment in this state.”

In addition to the GCP, other chambers that signed the Third Frontier call-to-action are: Greater Akron Chamber, Canton Regional Chamber of Commerce; Cincinnati USA Regional Chamber; Columbus Chamber; Dayton Area Chamber of Commerce; Ohio Chamber of Commerce; Toledo Regional Chamber of Commerce; and the Youngstown/Warren Regional Chamber. 

Click here to read the Ohio Business Roundtable’s “Ohio Third Frontier Analysis of Performance” report.

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As an association of business members, the Greater Cleveland Partnership mobilizes private-sector leadership, expertise and resources to create jobs and leverage investment to improve the economic vitality of the region.

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