Roemer Announces $31 Million State Investment for New Greater Akron Innovation Hub

COLUMBUS- State Rep. Bill Roemer (R-Richfield), Ohio Governor Mike DeWine, and Lt. Governor Jon Husted today announced that the Greater Akron area has been selected as the site of Ohio's most recent innovation hub.

Supported by $31 million in state funding from the Ohio Innovation Hubs Program, the project will include a private investment of up to $10 million and a minimum of $50 million from the federal level. The proposed Greater Akron Innovation Hub will leverage existing industry density, expertise, and legacy assets to capitalize on the region's most unique high-growth opportunities, benefiting Ohio's broader economy.

"A sustained polymers tech hub focusing on polymers will be transformational to the State of Ohio," Roemer said. "For several years, I have witnessed a unique collaboration evolve within Northeast Ohio's polymer industry comprised of private sector partners, higher education institutions, local governments, philanthropic groups, and nonprofit organizations."

This initiative, led by the Greater Akron Chamber of Commerce, in conjunction with the University of Akron, Kent State University, Stark State College, and numerous private and philanthropic organizations, will be transformational for Summit County and all of Northeast Ohio.

The Northeast Ohio hub will create jobs, increase STEM talent, attract research funding and outside capital investment, commercialize new products, and ultimately significantly impact Ohio and the world. Establishing a Greater Akron Innovation Hub focused on polymers will allow the area to solidify its position as a global leader in polymers and advanced materials. This project will generate positive outcomes for Ohio's economy for years to come.

"The consortium's efforts are designed to drive industry growth and transform our economy," Roemer continued. "This will be achieved by utilizing cross-sector collaboration in research and development, workforce development, infrastructure, and commercialization projects, which has positioned Greater Akron, and all of Ohio, for catalytic investment from state and federal agencies."

For more information on the Ohio Innovation Hubs Program, visit development.ohio.gov.