Press Room >> 2009 Press Releases FOR IMMEDIATE RELEASE LIEUTENANT GOVERNOR LEE FISHER UNVEILS OHIO THIRD FRONTIER ANNUAL REPORT DAYTON – In his keynote address to the Ohio Innovation Summit Tuesday evening, Lieutenant Governor Lee Fisher unveiled the Ohio Third Frontier annual report for fiscal year 2008, outlining the performance to date of Ohio Third Frontier, our state’s largest program that has assisted in the creation, attraction, and capitalization of more than 500 businesses since its inception in 2002. ### Media contacts: Robert Grevey at (614) 466-6619 or
Wednesday, April 22, 2009
Highlights Nine to One Public-Private Leverage Ratio
“Ohio Third Frontier is a visionary and bipartisan commitment to Ohio’s future prosperity that is paying substantial dividends even in these challenging times,” Lt. Governor Fisher said. “In 2008, Ohio Third Frontier reached another high water mark, attracting $3.5 billion in additional resources to projects and companies, representing nine new dollars for every one dollar expensed by Ohio Third Frontier programs.”
Ohio Third Frontier’s 2008 annual report outlines the performance metrics as measured by the Technology and Innovation Division at the Ohio Department of Development. The division is charged with administering the Ohio Third Frontier, the state’s largest ever initiative to grow Ohio’s innovative assets. On program expenditures from Ohio Third Frontier of slightly more than $400 million, the program has leveraged more than $3.5 billion in funding from outside sources, sustaining an investment leverage ratio of nearly nine additional dollars for every one Ohio Third Frontier dollar to date.
“Ohio Third Frontier continues to be more successful than expected in leveraging outside resources, which demonstrates a commitment by Ohio and our private sector partners to the program and its economic development potential,” Interim Director Barbash said. ”Opportunities like the Ohio Innovation Summit nurture our state’s entrepreneurial eco-system, creating new partnerships that strengthen Ohio’s industry portfolio and enhance our standing in the global market place.”
To view the full Ohio Third Frontier 2008 annual report, click here.
The Ohio Innovation Summit is a joint nanotechnology and sensors event held by two Ohio Third Frontier Wright Centers of Innovation: The Ohio Center for Multifunctional Polymer Nanomaterials and Devices (CMPND) and the Institute for the Development and Commercialization of Advanced Sensor Technology (IDCAST). The summit provides opportunities to network with a network of collaborators, awareness of Ohio Third Frontier programs, and exposure to technology and commercialization opportunities for the future.
Ohio Third Frontier is committed to expanding Ohio’s technological strengths and promoting commercialization that leads to economic prosperity throughout Ohio. Designed to build world-class research programs, nurture early stage companies, and foster technology development that make existing industries more productive, Ohio Third Frontier creates opportunity through innovation.
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