$2.5 MILLION AWARDED TO HIGH TECHNOLOGY COMPANIES
COLUMBUS, OHIO (March 28, 2007) - COLUMBUS - The Third Frontier Commission today awarded $2.5 million from the Targeted Industry Attraction Program (TIA) to two high tech companies. The awards are intended to assist the firms in advancing Ohio's manufacturing presence in the fuel cell industry and further development and commercialization in the biopharmaceutical industry.
The TIA program is designed to attract and generate growth in Ohio's high tech industries. Funds awarded are subject to final approval by the State Controlling Board.
UltraCell Corporation, located in Dayton (Montgomery County) has been awarded a $1 million TIA grant to expand its research and development operation to a full scale manufacturing operation. UltraCell develops and manufactures complete micro fuel cell systems for portable devices. The company plans to initially lease 33,000 square feet of an existing 100,000 square-foot facility at the Dayton International Airport and purchase machinery and equipment to establish a manufacturing operation. UltraCell expects to expand in a phased manner to accommodate increasing sales demands. The new facility will be a manufacturing operation, but also will house administration, research and development, a training center, field service, a product repair service center, test and measurement and distribution and field sales. The company's goal is to grow rapidly to manufacture millions of fuel cells per year from the Ohio facility. The $79.5 million project is expected to result in the creation of 235 full-time, high paying jobs within three years, with the possibility of a total 360 new jobs over a four-year period. The new jobs will be managerial, engineering, administrative and technical in nature.
The Third Frontier Commission has committed a $1.5 million TIA Program grant to Amylin Ohio LLC, should it choose to expand its West Chester Township (Butler County) facility. Amylin Ohio is a 100 percent-owned subsidiary of Amylin Pharmaceuticals, Inc., a biopharmaceutical company engaged in the discovery, development and commercialization of innovative medicines to improve the lives of people with diabetes and obesity. Amylin has developed and gained approval for two first-in-class medicines to treat diabetes, BYETTA® (exenatide) injection and SYMLIN® (pramlintide acetate) injection, both of which were commercially launched in the United States during the second quarter of 2005. Amylin's manufacturing facility in West Chester is under construction and it is expected to produce and package a long-acting version of BYETTA® that is currently in development. The State of Ohio and Amylin are currently exploring expansion opportunities and the TIA Program funds could be accepted if the company elects to increase its investment in Ohio in the near future.
Media Contacts: Nikki Jaworski (614) 466-9161 or Maria Smith (614) 466-2382
