$1 MILLION AWARDED TO HIGH TECHNOLOGY COMPANY FOR POTENTIAL COLUMBUS EXPANSION
COLUMBUS, OHIO (April 26, 2007) - COLUMBUS – Lt. Governor Lee Fisher today announced that the Third Frontier Commission has awarded $1 million from the Targeted Industry Attraction Program to Zyvex Performance Materials, Inc., which proposed to locate a new headquarters and manufacturing facility in Columbus (Franklin County).
"We are proud Zyvex is considering expanding their operations in Ohio, citing the many industry partnerships that are available between companies, research institutions, universities and government," said Lt. Governor Lee Fisher, Director of the Ohio Department of Development and Chair of the Third Frontier Commission. "By continuing to strategically invest Third Frontier resources with companies that rely on our educational and research institutions, the State of Ohio is creating a cycle of success for technology collaborations."
Zyvex Performance Materials (ZPM) is a recent spin-off of Zyvex Corporation ("Zyvex"), a leading nano-technology company providing tools and instrumentation to the semi-conductor and research and education markets. Included in ZPM's spin-off from Zyvex were 12 issued and pending patents concerning the development and production of carbon nanotubes and related products; Zyvex itself holds currently more than 40 awarded patents and has more that 50 patent applications pending. Third Frontier grants will assist ZPM with research and development activities along with facility and equipment upgrades. ZPM proposes to create up to 99 new full-time high paying jobs.
The Targeted Industry Attraction Program provides grants to attract new to Ohio business projects that will significantly impact Ohio by creating high-value jobs, increasing tax revenues and improving the economic welfare of the state. The program will target companies creating new, cutting-edge technology within the advanced polymers, bioscience and fuel cell industry sectors. Third Frontier funds awarded are subject to final approval by the State Controlling Board.
Media Contacts: Nikki Jaworski (614) 466-9161 or Maria Smith (614) 466-2382.
