Ohio Venture Association Strongly Supports the Prompt Renewal of the Ohio Third Frontier Program
January 29, 2010
The Ohio legislature should renew the Third Frontier program, the Ohio Venture Association (OVA) argues in a position paper.
“This program has been very valuable in creating technology in the state’s research institutions, supporting the commercialization of that technology in companies, and supporting company formation and capital formation throughout Ohio,” commented OVA President Jonathan Murray. “As I travel to other states, particularly in the Midwest, the Third Frontier program is held up as an example to follow,” he said.
The original Third Frontier program, which raised and allocated $1.3 billion from a bond measure, is nearing the end of its lifespan. It has generated $2.3 billion in additional grants and investments, $2.4 billion in employee wages and benefits and an average yearly return on investment of 22 percent., according to the Ohio Department of Development.
The OVA believes that the benefits of this program should be continued through a renewal in the May election.
The position paper, Ohio Third Frontier program is available in its entirety on this website.
The Ohio Venture Association is a leading membership organization for entrepreneurs and investors.