Latest News

Ohio Polymer Company bags huge contract
Sep 20, 2008

Akron Polymer Systems (APS), an Akron, Ohio based Company has received a US$ 250,000 contract from a North American consortium to develop a flexible and transparent liquid crystal display that can withstand high-processing temperatures. The contract provides FlexTech, APS' customer the right of first refusal for whatever APS develops.

The company is in the process of developing a flexible and lightweight plastic to take the place of the glass. It is expected that the polymers that APS will develop will have multiple applications and will open new markets for display technologies and flexible electronics.

Venture capital firms investing in Ohio
19 Sep 2008

According to an Ohio State University report, Ohio companies received over half-billion dollars in venture capital investments last year and are expected to exceed that amount this year. In 2007, Venture Capitalists (VCs) invested over US$ 536 million into Ohio companies showing an increase of 66 % from US$324 million in 2006.

Honda making huge presence in Dayton area
12 Sep 2008

Honda’s massive 505-acre engine plant in the village of Anna, Ohio shows the company’s large presence in the region. After Agriculture, manufacturing is the second largest industry in Shelby County and with about 2,750 workers the engine plant of Honda has emerged as the largest manufacturing employer in the region. The facility produces over 1.1 million auto engines a year and has grown to nearly 1.75 million square feet.

 

Cleveland Clinic benefits entire region
7 Sep 2008

The US$ 506 million heart center, known as the Sydell and Arnold Miller Family Pavilion, in Cleveland is becoming a top job driver and economic engine in the region.

The heart center, along with the US$ 128 million Glickman Tower, will soon add 100 beds and 1,000 jobs to the Clinic's sprawling main campus. The new facilities enhance the region's growing profile as a medical hub and its ability to attract more talent and investment.

Alcoa expands market; launches three new wheel lines for full size trucks

Alcoa Automotive Wheels, a Cleveland, Ohio-based business of Alcoa announced the expansion of their aftermarket catalog to include three new wheel lines for full size trucks. Alcoa is a leading supplier of wheels to the commercial vehicle, heavy truck, light truck and passenger car markets. The company now offers Discovery Series, Revolver Series and Xtreme Series for current and late model full size trucks, including Chevrolet and GMC 2500/3500, Dodge 2500/3500 and Ford F-250/350.

State stimulus package to be distributed across seven business areas
September 3, 2008

Ohio has received a 1.57 billion economic stimulus package and it is expected that the amount will benefit the state in general and Central Ohio in particular. It is estimated that the fund will get a lot of people back on track both in construction and with the companies that support them. The economic stimulus package is aimed at creating jobs and boosting economic development in the state and will be distributed across seven different business areas. Part of the money will be available for distribution by mid-October with some projects already under review. The rest of the funding will be spread over the next three years.

 

Ohio Governor outlines new jobs program
4 Sep 2008

Ohio Governor, Mr. Ted Strickland released a plan aiming at bringing more jobs to Ohio and boosting family incomes. The plan consists of 33 new or revised economic-development programs that are intended to help the state meet new targets for income growth by 2020. The program unveiled by Mr. Strickland calls for boosting the per capita income of Ohioans and increasing job growth to a level that’s 25 % higher than the five states surrounding Ohio. The plan would shift economic-development resources to nine industries, with the goal of building Ohio's strengths.

Plating Technology receive US$ 1 million loan from state
September 09, 2008

The Ohio Controlling Board has approved a US$1 million loan to Plating Technology Inc. The company will use the money to buy new machinery and equipment, the board said. As a result, the state expects 12 new full-time jobs to be created and 39 existing jobs to be retained. Plating Technology specializes in plating metal finishes for the automotive industry. The new equipment will allow the company to expand its capabilities in alloy metal finishing.

Ex - Skybus officials to initiate new start
10 Sep 2008

The founder of Skybus Airlines is holding discussions with officials from Cincinnati/Northern Kentucky International Airport about creating a new airline similar to the now-grounded, Columbus-based low-cost carrier that offered fares as low as US$ 10 each way. Mr. John Weikle, founder of Skybus Airlines, has toured different airports and spoken with top official’s to find a vacant terminal for a possible new carrier. Cincinnati joins a list of cities that Mr. Weikle has talked with about trying to start an airline and raise the money to do so. Besides, Mr. Weikle has also met with officials from Springfield, Ohio and Dayton airport for the same.

67 Northeast Ohio firms in the national list of fastest-growing companies
9 Sep 2008

According to Inc. magazine, Cleveland-based Company Alphaport Inc., a specialized engineering company is the fastest-growing private company in Northeast Ohio. Alphaport tops a list of 67 Northeast Ohio businesses. The revenues of the company grew a stratospheric 1,095 percent last year, to $7.7 million, in its first-ever appearance on the Inc. 5000, an annual ranking of America's 5,000 fastest-growing privately owned companies. Some of the other companies featuring in the list include Turning Technologies LLC, MurTech Consulting, Millman Surveying Inc., Mental floss etc.

 

Barack Obama’s stance on outsourcing stays firm
4 Sep 2008

US Presidential candidate Mr. Barack Obama repeated his stance on outsourcing and sought to end tax breaks to companies that ship work overseas. Mr. Obama promised to retain and create more and more jobs for Americans and said that companies should be given incentives for investing in the country. Mr. Obama said that the energy sector has large potential in America and the country should invest in clean alternative technologies to avail this opportunity.

Virtual Manufacturing Center creates jobs for Boeing
11 Sep 2008

Boeing's new Virtual Manufacturing Center offers a detailed three-dimensional model of yet-to-be created products. Employees at the company's Guidance Repair Center on the Central Ohio Aerospace and Technology Center campus will watch through 3-D glasses on a huge video screen how to assemble a product only in the design phase.
The US$ 1.2 million center will bring 30 to 60 new jobs to the Heath facility within 12 to 18 months. It will speed up design and production, and cut costs and training time.

The detailed three-dimensional modeling of products at the Heath facility will be shared with Boeing's design centers in other parts of the country.

Fostoria ethanol plant launched on Sep 30
11 Sep 2008

Poet LLC, of Sioux Falls, S.D. has launched its second Ohio plant, a US$ 130 million Fostoria facility on Sept. 30. The plant is estimated to produce 65 million gallons of ethanol annually. A US$ 105 million sister plant in Leipsic that also makes 65 million gallons annually opened in January. The Ohio and Indiana plants will expand the company’s total ethanol production to more than 1.4 billion gallons annually.

Vehicle sales crash in August
11 Sep 2008

Car and light truck sales in Northeast Ohio dropped by more than 20 % in August from a year ago. According to the Greater Cleveland Automobile Dealers' Association, car sales fell 21.6 %, while truck sales were down 26.1 % from August 2007.

Reputed brands like Chevrolet, Ford, Chrysler, Dodge etc., underwent this fall in sales in different percentages in August as compared to the same period in 2007. Honda and Toyota sales also dropped in August compared to a year ago.

Ohio offers US$5 million grant for WSU science labs
September 10, 2008

The State Controlling Board has offered US$ 5.2 million funds to Wright State University for a renovation project of the school, which will upgrade the majority of the outdated science and research labs.

 

Akron unveils loan plan
Sep 10, 2008

According to Akron Deputy Mayor, Mr. Robert Bowman, Akron is set to assist small businesses through a plan that would provide low-interest loans to small businesses in areas where the city is performing major public improvements. The loan program would have relatively small amounts that will be earmarked for business improvements. Akron has been providing small business loans in various neighborhood business districts since 1976.

C|Suites - location for small international investors in Ohio

C|Suites launches first class executive offices and facilities at the prestigious and ambient Creek-side development in Gahanna, Ohio. The location is just minutes away from Downtown Columbus, Port Columbus International Airport, six Fortune 500 companies, and 18 colleges and universities. The location is also conveniently placed within walking distance to shopping, fine and casual dining, public plazas and parks.

 

 

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Ohio Newsletter (June-July 2008)

Ohio Newsletter (August 2008)