Taft Announces $4.6 Million in Tech Awards to Cleveland
CLEVELAND, OHIO (October 16, 2003) - Governor Bob Taft today announced more than $4.6 million in Third Frontier awards to four Cleveland-area technology projects that are expected to generate 405 new jobs for Northeast Ohio.
"These projects - that are creating jobs, improving the lives of Ohioans and transforming our economy - are the heart of my Third Frontier Project," Taft said. "Whether it's improved health care, better protecting our citizens, or helping new businesses to succeed, the work that's being done through the Third Frontier Project is making a difference."
Cleveland was one of four locations the Governor has visited in the last two days to announce awards. The Governor also has visited Dayton, Columbus and Toledo.
The Cleveland area projects announced today include:
? NDI Medical received $924,491 in Third Frontier Action Funds to develop a new device for the bladder to treat urinary incontinence - a condition that affects an estimated 13 million Americans. This project is expected to create nearly 200 jobs in manufacturing, research and development, and management. Project partners include the Cleveland Clinic Foundation, Cleveland FES Center/MetroHealth Medical Center and Case Western Reserve University.
? Western DataCom received $774,741 in Third Frontier Action Funds to develop a high-speed modem
that can be used by the military and emergency personnel. This new technology will enhance their ability to communicate during times of war, natural disasters and terrorist attacks such as September 11th. This project is expected to generate 80 new jobs for Western DataCom and 95 new Ohio-based manufacturing jobs by 2008. Collaborators include Cisco Systems and the University of Akron.
? Advanced Energy Technology, Inc. received two Third Frontier Action Fund grants in the total amount of $1,826,013 to develop new technologies to help advance Ohio's fuel cell industry. The projects are expected to create 30 new jobs. Collaborators on the two projects include Lake Shore Cyrotronics, the University of Akron, and PIA Group, Inc.
? NorTech received $1,162,111 in Third Frontier Action Funds to launch an organization to provide support to new technology-oriented businesses to help them succeed. This unique collaboration anticipates raising and investing $10 million in approximately 60 new companies by 2010, with an average investment of $150,000 per company. Project partners include Case Western Reserve University, the University of Akron, Cleveland State University, Kent State University, the Greater Akron Chamber, the Ohio Innovation Fund, Northeast Ohio Software Association, Youngstown Business Incubator, JumpStart LLC, Capital One Partners LLC, GLIDE, Akron Industrial Incubator, Ohio Polymer Strategy Council, Enterprise Development, Inc., and BioEnterprise Corporation.
The Third Frontier Project is Taft's $1.6 billion job creation program to expand Ohio's high-tech research capabilities and promote start-up companies to create high-paying jobs. The final part of the Third Frontier Project, a $500 million bond program up for voter approval in November, would allow the state to allocate $50 million annually over the next 10 years to create new, good jobs for Ohioans and transform Ohio's economy.
