(The Center Square) – Ohio’s third innovation hub will receive more than $31 million in taxpayer funds and focus on polymer research, development and technology in the Akron area.
Another $10 million in local investment is expected for the Greater Akron Polymer Innovation Hub, with more than 70 partner agencies, including the city of Akron and the University of Akron.
The bulk of the state’s investment is expected to go toward building the Hub’s Polymer Pilot Plant, where partners will focus on polymer innovations related to health care, mobility, electronics, semiconductors, industrial materials and energy.
“Akron’s history in polymer innovation goes back more than 100 years, and now, the Greater Akron Polymer Innovation Hub will lead this industry into the future, bringing tremendous economic growth to the area, thousands of jobs, and millions in new revenue and investments,” Gov. Mike DeWine said. “This hub will also support Ohio’s emerging semiconductor and battery manufacturing industries, which both rely heavily on polymer materials.”
The partners expect the hub to produce about 2,400 new jobs, $75 million in new research money and $43 million in state revenue by 2031.
The state announced the first hub earlier this summer, committing $40 million in local and state tax dollars in northwest Ohio with an eye toward growing the state’s position as a global leader in glass science, engineering, technology and production.
The Northwest Ohio Glass Innovation Hub could build on Toledo’s legacy as the Glass Capital of the World, and officials believe it will spur job growth in both the glass and solar industry sectors.
They also say the hub will have an anticipated $284 million economic impact, 1,600 jobs, $25 million in tax revenue and 230 new STEM graduates.
The second announcement came in August, committing $35 million in taxpayer funds to grow the digital technology market in the state’s southeast corner.
Another $23 million in local tax dollars and up to $37 million in private investment are all part of the onMain Innovation Hub’s Digital Transformation Center on the former Montgomery County fairgrounds site in the greater downtown Dayton area.
One of the hub’s goals will be to support the Air Force’s digital transformation in designing and manufacturing airplanes, missiles, sensors, hardware, software and more.
