NorTech

The money will finance the acquisition of equipment and technical support to help develop sensor technology. Read the full article here.

Marriot Baltimore Inner Harbor at Camden Yards
110 South Eutaw Street
Baltimore, MD 21201

Event Information

Join your colleagues in Baltimore and exchange the best strategies and tools for building and managing strategic investment programs and institutions. Newly formed organizations receive the benefit of different viewpoints, while established organizations track new approaches and resources. Participants meet with professionals from outside their local networks, making one-on-one contact with specialized practitioners and discussing new methods of facilitating capital formation.

MAGNET Innovation Center
1768 East 25th Street
Cleveland, Ohio 44114

8:00 a.m. - 8:30 a.m.        Registration
8:30 a.m. - 12:00 p.m.      Workshop
12:00 p.m. - 1:30 p.m.      Lunch & Individual Meetings

Cost: FREE

Event Information

MAGNET, the Manufacturing Advocacy & Growth Network, PNC, Skoda Minotti and Growth Capital invite you to learn how to strengthen your current operations, better plan your growth opportunities and how organizing, understanding and presenting your financials can strengthen your chances to obtain financing.

This free, hands-on workshop is designed to show smaller manufacturers how to achieve greater success by improving the growth opportunities and financials of their business plan. Attendees will leave knowing a series of immediate steps they can take to build a better business plan for their company.

In addition, workshop attendees can register to have a short individual meeting over lunch with MAGNET, PNC, Skoda Minotti and Growth Capital representatives to discuss a growth or financial concern.

To register contact Linda Barita at 216.391.7766 or linda.barita@magnetwork.org.

Renaissance Columbus Downtown
50 North 3rd Street
Columbus, Ohio 43215September 27, 2010, 1:00 p.m. - 7:00 p.m.
September 28, 2010, 7:30 a.m. - 1:30 p.m.

Cost: FREE

Event Information

This informative event will focus on the increasing vitality of early stage companies and investors. The event will also offer the opportunity to network with entrepreneurs and investors. Reservations must be received on or before September 6, 2010.

LEEDCo, a private, nonprofit corporation leading the effort to build, install, and deploy a 20 megawatt (MW) offshore wind project in Lake Erie, today released the findings of an Economic Impact Study examining the emergence of an offshore wind energy industry on Lake Erie and its impact on Ohio’s economy.

The Study investigates the economic effects of two scenarios depicting different deployment rates of wind turbines in Lake Erie. Both scenarios feature an initial offshore installation of 20 megawatt (MW) turbines by 2012 but differ thereafter, leading to 1500 MW or 5,000 MW of offshore wind energy in Lake Erie by 2030. Both scenarios are based on the estimated costs for installation, operations and maintenance of hypothetical 5.0 MW wind turbines, along with estimated costs of specialized vessels necessary to install offshore wind turbines.

To download the full report, visit: http://www.nortechenergy.org/pdfs/LEEDCo_Economic_Impact_Study_FINAL.pdf

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The Ohio Department of Development (ODOD) recently issued the FY2011 Request for Proposals (RFPs) for the Ohio Third Frontier Cluster Development Programs. ODOD anticipates awarding up to $21 million in grants through FY2011 for the Cluster Development Programs listed below. Awards will be up to $1 million, with additional funding for capital expenses.

Advanced Energy Program RFP

Fuel Cell Program RFP

Photovoltaic Program RFP

Letters of intent to file a full proposal are due by 2:00 p.m. ET on September 10, 2010.

A Bidder’s Conference will be held for prospective respondents to the RFPs, at which the ODOD staff will present information on the RFPs, the requirements, and the evaluation process that will be used to determine awardees. Attendance at the Bidder’s Conference is encouraged, but not mandatory. The conference will be held at 10:30 a.m., August 19, 2010, at TechColumbus, 1275 Kinnear Road, Columbus, Ohio.

For more information about Ohio Third Frontier, please visit their website.

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NorTech today released its annual Northeast Ohio High-Tech Economy Brief, which analyzes performance of the region’s technology economy. The Brief also compares Northeast Ohio to the remainder of Ohio, the Midwest and the U.S. from the perspective of employment, output, productivity and average wages in high-tech industries in 2008.

The Northeast Ohio High-Tech Economy Brief sites that high-tech industries are adding jobs to the economy with a higher annual average wage than non high-tech industries. The jobs include both technology and non-technology workers. However a majority of the jobs are in non-technology oriented occupations, which demonstrates that growth in high-tech industries benefits all sectors of the region’s workforce.

“The data reinforce the importance of Northeast Ohio’s technology industries to our region’s economy and its workforce,” said Rebecca O. Bagley, president and CEO of NorTech. She continued, “It also shows that Northeast Ohio is continuing to transition to a more diversified economy driven by growth in our high-tech industries. However, this type of transition takes time. As our economy begins to recover from the recent recession, now is the time for the public and private sectors to accelerate investments to keep momentum moving forward.”

Specifically the Brief indicates:

• Northeast Ohio’s high-tech industries benefit all sectors of region’s workforce
A major finding of the analysis confirms that growth in high-tech industries benefits all sectors of the region’s workforce and is not limited to occupations with technical degrees. 3 out of 4 jobs in Northeast Ohio’s high-tech industries are in non high-tech occupations.

• Northeast Ohio’s high-tech employment grows despite decline in non high-tech industries
From 2007 to 2008, employment in Northeast Ohio’s high-tech industries grew by 1.8% or 3,025 jobs, despite the decline in employment in non high-tech industries. In fact, Northeast Ohio’s high-tech employment growth surpassed the remainder of Ohio and the Midwest.

• Average wage in high-tech industries is nearly double the average wage in non high-tech industries
The average wage in Northeast Ohio’s high-tech industries was 93% higher than the average wage in non high-tech industries - $71,864 compared to $37,246.

• Growth trend in Northeast Ohio’s academic research expenditures continues
In 2008, Northeast Ohio colleges and universities reported $493 million in research expenditures. From 2000-2008, Northeast Ohio’s academic research expenditures posted a 50% growth rate, outpacing the remainder of Ohio, the Midwest and the US.

“Northeast Ohio’s economy is continuing to add jobs in high-tech industries while jobs in non high-tech industries are declining,” said Ziona Austrian, Ph.D., director of the Center for Economic Development at Cleveland State University’s Levin College of Urban Affairs. She continued, “Sustaining long-term high-tech industry growth is important to creating jobs, and attracting capital, companies and talent so Northeast Ohio can be globally competitive.”

Download the Northeast Ohio High-Tech Economy Brief.

The annual Northeast Ohio High Tech Economy Brief summarizes the key findings from the full Report, commissioned by NorTech and prepared by the Center for Economic Development at Cleveland State University’s Maxine Goodman Levin College of Urban Affairs. The Cleveland State research team used a definition of high-tech industries and occupations developed by Daniel Hecker, an economist at the U.S. Bureau of Labor Statistics. This definition was used to study Northeast Ohio’s 21-county area consisting of six metropolitan regions (Cleveland-Elyria-Mentor, Akron, Canton-Massillon, Mansfield, Sandusky, and Youngstown-Warren-Boardman) and eight non-metropolitan counties.

Read full news release here

Read full article here

NorTech, a regional nonprofit economic development organization and catalyst for growing technology industries in Northeast Ohio, has been awarded a $300,000 grant by the Economic Development Administration of the U.S. Department of Commerce. This marks the first competitive federal grant to NorTech and Northeast Ohio for the development of a regional innovation strategy for the advanced energy industry. The funding is key to the ongoing efforts of NorTech Energy Enterprise, an initiative focused on accelerating commercial activity in the region’s advanced energy industry.

“We are pleased to be working with EDA on such an important initiative for the Northeast Ohio region. The funding validates NorTech’s work to develop a thriving advanced energy cluster and its potential to serve as a national model for regional technology-based economic development,” said Rebecca O. Bagley, President and CEO of NorTech.

There has been significant investment and momentum in many advanced energy sectors in Northeast Ohio. The EDA grant will be used to fund a series of roadmaps that will develop a regional vision in four emerging globally-competitive advanced energy sectors: Energy Storage, Smart Grid, Transportation Electrification, and Biomass/Waste-to-Energy. NorTech will continue to work broadly within the region’s advanced energy cluster while leading the roadmapping process.

“The roadmaps will help us create a clear vision and path to develop a thriving advanced energy cluster in our region. The process will help us further identify Northeast Ohio’s advanced energy assets and how the region can leverage those assets to create a distinct advantage to become globally competitive in this industry now and in the future,” said Dave Karpinski, Vice President of NorTech and Director of NorTech Energy Enterprise.

To develop the roadmaps, NorTech Energy Enterprise will engage regional industry, academia, government, and funding partners in a series of workshops to gain valuable insight and input. The process will help identify the unique strengths of the region in the specific sectors; characterize the global market drivers and opportunities; assess the competitive landscape and outline the regional opportunities. The roadmapping process will be completed in early 2011.

“Through our skilled workforce and strong supply chain, Ohio will lead the nation in the clean energy economy,” said Sen. Sherrod Brown. “These funds will ensure that Northeast Ohio’s workers have the training they need to upgrade our energy infrastructure, increase our energy efficiency, and help attract new jobs in the clean energy industry.”

“President Obama is committed to reinvigorating the competitiveness of communities and regions impacted by the downturn of the auto industry,” said U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez. “This EDA investment will advance regional collaboration to boost an emerging green economy sector that has major potential to provide higher-skill, living-wage job opportunities in northeast Ohio.”