Buzz

State-backed venture funds carry risks, rewards

THE JOURNAL-SENTINEL, 8/14/10 Thursday, August 26, 2010

Any number of things can go wrong in a venture capital fund and even more can go awry if the state is involved, reports the Journal-Sentinel in Milwaukee.

While the article uses the experiences of Iowa as a cautionary tale, it holds up Ohio as an example of success.

Read the full story here.

Ohio University�s research licensing income rises to $8.2 million

OHIO UNIVERSITY, 8/12/10 Thursday, August 26, 2010

Ohio University reported $8.2 million in income from its research technologies in fiscal year 2010, the majority of which came from licenses for health and medical advances for growth hormone and thyroid disorders, reports Ohio University.

The university received more than $8 million from the Pfizer corporation from a license for a growth hormone antagonist.

Read the full story here.

Steel maker Timken Co. invests $50 million in Ohio

ASSOCIATED PRESS, 8/12/10 Thursday, August 26, 2010

Bearings and specialty steel maker Timken Co. says it will invest $50 million in its steel operations in Canton, Ohio, to help keep up with increasing demand, reports the Associated Press.

The money will pay for installation of a new intermediate finishing line at the Gambrinus Steel Plant, which will improve efficiency and incorporate new technologies and processes. The line is expected to be fully operational in 2013.

Read the full story here.

Ohio food plant expansion to create 169 jobs

ASSOCIATED PRESS, 8/13/010 Thursday, August 26, 2010

A Massillon snack foods manufacturer says its new production facility in northeast Ohio will create 169 jobs, reports the Associated Press.

Shearer's Foods says phase one of the project will create 79 jobs with a second phase creating 90 more jobs in January 2011.

Read the full story here.

PSEG dedicates 12 megawatt solar farm in Wyandot County

NEWARK STAR-LEDGER, 8/19/10 Thursday, August 26, 2010

Executives from Newark, N.J.-based Public Service Enterprise Group dedicated a 12-megawatt solar farm in Wyandot County, reports the Newark, N.J., Star-Ledger.

Owned by PSEG Solar Source, the 80 acre facility is the largest solar installation operating in Ohio.

Read the full story here.

New firm to develop Ohio University �Pee Power� wastewater remediation

OHIO UNIVERSITY, 8/23/10 Thursday, August 26, 2010

E3 Technologies, LLC, a new firm based in Athens, will develop an Ohio University invention called the "GreenBox" designed to clean commercial and agricultural wastewater and produce hydrogen energy -- a technology that's been described as "pee power," reports Ohio University.

The company, founded by the Ohio University faculty inventor of the technology, Gerardine Botte, is a new tenant in the Innovation Center, the university's small high-tech business incubator.

Read the full story here.

Ohio rolls out new markets tax credit program

GOV MONITOR, 8/23/10 Thursday, August 26, 2010

Ohio has launched a New Markets Tax Credit Program, an initiative that helps finance business investments by providing state tax credits to investors for below market rate financial products for low-income community businesses, reports GovMonitor.

According to state officials, Ohio is one of the first states to enact such an incentive.

Read the full story here.

Toxic blue-green algae expected to worsen

THE PLAIN DEALER, 8/22/10 Thursday, August 26, 2010

The simmering summer of 2010 is coughing up a sickly and unprecedented batch of toxic blue-green algae in western Lake Erie and nearly a dozen of Ohio's shallow, inland lakes, and many lake scientists are speculating that it's only going to get worse, reports the Plain Dealer.

Scientists on Lake Erie, where most of the research takes place, blame high concentrations of phosphorus and high water temperatures for algal blooms on course to be the worst in 30 or 40 years.

Read the full story here.

UC launches National Academy of Inventors chapter

SOAPBOX, 8/24/10 Thursday, August 26, 2010

A new initiative at the University of Cincinnati aims to give researchers and faculty more recognition for groundbreaking work, reports Soapbox.

UC's research department has just launched its chapter of the National Academy of Inventors. The University of South Florida started the academy to recognize inventors who have a patent from the U.S. Patent and Trademark office and to increase their visibility.

Read the full story here.

Ohio cited for rapid growth in medical device innovation

MD+DI, AUGUST 2010 Thursday, August 12, 2010

Although Minnesota, California, and Massachusetts have long been recognized as major centers for medical device manufacturing, Ohio is quickly gaining steam as a global player in the industry, reports MD+DI.

The state is home to more than 300 medical device companies and the University of Ohio ranks second in the nation (next to Duke) in biotech industry�sponsored research, according to Bill Lafayette, vice president of economic analysis at the Columbus Chamber of Commerce.

Read the full story here.

Appalachia offers essentials for business

COLUMBUS DISPATCH, 7/31/10 Thursday, August 12, 2010

Is Ohio's Appalachia region a business hot spot?

Without a doubt, says Joe Hamrock, co-chairman of the Foundation for Appalachian Ohio's ICAN! Business Council, in an op-ed column for the Columbus Dispatch.

Read the full column here.

Ohio Capital Fund supports venture-capitalist investments

ONN, 8/8/10 Thursday, August 12, 2010

Where do venture capitalists go to get venture capital? They look to other venture capitalists, says ONN.

In an ONN interview published in the Columbus Dispatch, Paul Cohn, regional director of the Ohio Capital Fund, answers questions about venture capital in Ohio and the Capital Fund's role in the state's "entrepreneurial ecosystem."

Read the full story here.

Team NEO reports economic progress

CRAIN'S CLEVELAND BUSINESS, 8/10/10 Thursday, August 12, 2010

As the national economy endures the gloom of what is being called a "jobless recovery," Northeast Ohio appears to be offering a sliver of hope, reports Crain's Cleveland Business.

In its latest quarterly economic review, Team Northeast Ohio, the regional business attraction nonprofit, reports that 1,000 more people were working at the end of the second quarter June 30 than were employed a year ago in the 16-county region.

Read the full story here.

Wisconsin papermaker plans distribution center in Monroe

APPLETON POST-CRESCENT, 8/4/10 Thursday, August 12, 2010

Wisconsin-based papermaker Appleton plans to establish a 220,000-square-foot regional distribution center for its carbonless, thermal and security products in Monroe, reports the Appleton, Wis., Post-Crescent.

The company will transfer the 10 employees who work at the Kentucky distribution center to staff the Monroe facility.

Read the full story here.

Ohio farmers watching developing Russian wheat disaster

ABN, 8/9/10 Thursday, August 12, 2010

Wheat farmers throughout Ohio could be planting more wheat this fall, as the demand and price per bushel has increased because of a recently announced ban on wheat exports from Russia, reports ABN.

Russia has banned exports in the wake of drought and wildfires that have destroyed about 20 percent of that country's crop.

Read the full story here.