FISHER ANNOUNCES $1.3 MILLION FOR HIGH TECHNOLOGY GRANTS
COLUMBUS, OHIO (December 12, 2008) - Lieutenant Governor Lee Fisher today announced that more than $1.3 million in grants have been awarded to three entities as a means to attract high technology, target industry companies to Ohio. The funds were awarded through the Ohio Third Frontier Target Industry Attraction Program and are expected to create more than 180 jobs. The awards are contingent upon State Controlling Board approval.
"Each of these Target Industry Attraction Program projects represent the type of innovative research and development we are proud to support," said Lt. Governor Fisher, who also serves as Director of the Ohio Department of Development and Chair of the Ohio Third Frontier Commission. "Securing these investments in Ohio advances our efforts to establish target industry clusters such as biomedical and advanced materials."
The awards are as follows:
Proxy Biomedical Limited, located in Galway, Ireland, was awarded $160,000 for the establishment of its first U.S. full service operation with a proposed location in Cleveland (Cuyahoga County). Founded in 2002, Proxy Biomedical Limited is a private, leading innovator in the development of next generation medical products using proprietary synthetic and biologic biomaterials technology. The company has worked with a tissue bank partner in the Dayton, OH area to develop an allograft biologic membrane for homologous wound covering use. The biologic implant is FDA approved and is being evaluated for specific clinical indications (ob/gyn, colorectal, and general surgery). Proxy Biomedical is also performing research and development for a proprietary xenograft biologic membrane material for evolving market indications. Terms for license on a patented decelluarization technique have been evaluated for the xenograft biologic membrane, which will shorten time to market and strengthen the product portfolio. Proxy Biomedical will lease approximately 5,000 square-feet of multi-use space in the Cleveland University/Hospital area for the facility. The proposed project will be a separate business unit which designs, develops, manufactures, and markets advanced procedure-specific devices and materials for advanced surgical procedures. The project is expected to create 26 new full-time jobs within three years of the project's initial operations.
ASK-in Tag, LLC was awarded $200,000 for the establishment of a Radio Frequency Identification (RFID) manufacturing facility with a proposed location in Heath (Licking County). ASK, located in Sophia Antipolis, France is a leading manufacturer of security, banking, and transportation Radio Frequency Identification projects worldwide, has entered in a 50/50 joint venture, creating ASK-in Tag, with WS Packaging Group Inc. (WSP). WS Packaging Group Inc. is one of the top privately owned label and tag manufacturers in the United States. The joint venture will exclusively apply ASK technology to supply security, banking, and transportation markets in the U.S. and Canada, as well as manufacture passports and other secure products worldwide. The joint venture will create the only U.S. supplier for these products. A uniquely designed machine will be used to automate the process, presently labor intensive and inefficient. Additionally, the joint venture allows WS Packaging Group Inc. to apply the ASK technology on a royalty basis to its own commercial Radio Frequency Identification operations in other vertical markets such as retail supply chain, gaming, and health care. The proposed project is expected to create 115 new full-time jobs within three years of the project's initial operations.
Modular Genetics, Inc. (Modular), located in Cambridge, MA, was awarded $1 million for the establishment of a pilot-scale biofinery with a proposed location in Dublin (Franklin County). A privately held company, Modular was incorporated in 2000 and specializes in the design and development of engineered microorganisms that, through a fermentation process, synthesize chemicals using inexpensive renewable materials to produce high value specialty chemicals and biopolymers. Modular's proposed expansion plans in Ohio include progressing from research and development to pilot stage to full scale manufacturing within the areas of specialty chemicals, commodity chemicals, and pharmaceutical products. The proposed project is divided into two phases. The first phase comprises a pilot-scale biorefinery; Modular anticipates investment of approximately $2.1 million in building improvements and $5.5 million in machinery and equipment. Phase two comprises a commercial manufacturing facility and will commence in 2012, resulting in an estimated building investment of $35 million and $133 million in new machinery and equipment. The proposed project is expected to create 40 new jobs between 2009 and 2012.
The Ohio Third Frontier was initiated in February 2002. This project is the state's largest-ever commitment to expanding Ohio's high-tech research capabilities and promoting innovation and company formation that will create high-paying jobs for generations to come. The 10-year, $1.6 billion initiative is designed to: Build world-class research capacity; Support early stage capital formation and the development of new products; and Finance advanced manufacturing technologies to help existing industries become more productive. Through the Ohio Third Frontier Project, additional federal and private sector support can boost the total investment to more than $6 billion.
The Targeted Industry Attraction Program was created to provide financial assistance as a means of attracting high technology, target industry companies to Ohio. The program targets companies creating new cutting-edge technology in the target industry sectors of advanced materials, advanced energy, advanced propulsion, instruments, controls and electronics, and biomedical. The Targeted Industry Attraction program provides grants for projects that will significantly advance the state's strength in one of the targeted industries.
Working with our partners across business, state and local governments, academia, and the non-profit sector, the Ohio Department of Development works to attract, create, grow, and retain businesses through competitive incentives and targeted investments. Engaged every day in marketing, innovating, investing, and collaborating, the Ohio Department of Development works at the speed of business to accelerate and support the teamwork that is absolutely necessary for success by providing financial, informational, and technical assistance to those making an investment in Ohio's future.
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