Innovation Economy

Innovation Economy

Ohio is known as the Birthplace of Aviation, and the key to driving statewide economic growth is by working to make this state the Birthplace of Innovation as well. From his early days working out in Silicon Valley at a healthcare startup, Jon knows that innovation holds the key to building game-changing companies that grow next-generation jobs in our economy.

Traditionally, vocational training programs and educational tax credits have been utilized to help workers transition into higher paying jobs with more growth potential. Ohio must continue to invest in such programs to continually enhance the competitive skill sets available in its workforce. In addition to traditional job-training and education approaches, new technologies are emerging that hold potential for work-force enhancement at a personal level.

Thirty five years ago the Bayh-Dole Act revolutionized the commercial development of federally funded research initiatives, and by acting on this at a state level we can increase the competitive posture of Ohio’s economy. Numerous studies have shown that academic-based research boosts local, national, and global economies.

Technology transferred from research institutions to the marketplace helps create jobs through new startups and product sales. Effective translation of technology into the marketplace is a challenging process, however, the rewards have multiple follow-on benefits and effects. This contributes to the evolution of new industries that can not only drive up wages but create new jobs for hundreds of thousands of families throughout Ohio.