AKRON, Ohio — Ohio Lt. Gov. Jon Husted made a stop at Akron’s Bounce Innovation Hub on Tuesday to talk about innovation — and polymers.
During a roundtable discussion, Husted spoke with representatives of the Greater Akron Chamber’s Polymer Industry Cluster Advisory Council, which comprises 40 entities, including companies, universities, industry associations and economic-development partners.
His visit dovetails with a $150 million allocation in the proposed state operating budget toward the creation of innovation hubs around the state.
Husted, who is leading an initiative to preserve and create jobs, boost research and development, and draw skilled tech workers to the state, laid out the current environment for business and economic development in Ohio.
Ohio has transitioned from being an unfriendly state for business to one that’s affordable, with a reasonable regulatory environment, Husted said. In the past four years, 40 businesses have relocated here from the coasts.
Husted also pointed to Intel, which broke ground last year for a $20 billion chip manufacturing facility near Columbus, and Honda, which is building a $3.5 billion EV battery plant in a joint venture with LG Energy Solutions.
Those facilities need to be staffed next year with workers who have technical know-how, he said, but the workforce is shrinking in Ohio, and most states.
Gov. Mike DeWine’s proposed budget includes $300 million for career centers, which is the only segment of education that’s experienced increased enrollment, he said. It also earmarks $200 million to update labs and tech facilities for Ohio’s universities and colleges.
In addition, several factors currently affecting industry in the U.S. — from federal subsidies to intellectual property theft by foreign governments — have led to a “rush to domesticate the supply chain,” from microchips to drugs, he said.
“So, the way to take advantage of that in a world where we're trying to reshore, build things in America, also contrasting with a shrinking workforce, is to figure out how we can be the absolute best at innovation and productivity,” he said. “Those two combined are extremely important.”
Husted stressed that local collaboration between leaders is essential to the state’s success, and innovation hubs, such as Bounce, are “a critical component” of growing local economies.
“Economies are regional, economies are local,” he said. “And those who collaborate best at the local level are the ones that are going to win the lion's share of the opportunity.”
Greater Akron Chamber President and CEO Steve Millard said the group was encouraged by Husted’s comments.
“I think what we've done over the last two and a half years or so, is put ourselves in a position to be able to check every box that you've identified there,” Millard said.
For the past several decades, Akron has been transitioning industry from rubber to polymers, he said.
Members of the group spoke to Husted about the group’s current goal is to strengthen and improve northeast Ohio’s polymer sector ecosystem through a strong, diverse talent pool, funding for regional innovation projects and a focus on sustainability.
They gave examples of the many collaborations that exist between the group’s entities.
“We believe that over the next 10 years or so, we can significantly increase both jobs and also investment in this region and the size of the GDP of our polymer industry significantly, by accelerating the work we're doing in these initiatives,” Millard said.
Husted was also taken on a tour of Bounce, which houses and supports entrepreneurs, startups, inventors and small businesses.
