Red, Green, and White Bioscience

Ohio continues to establish its international leadership role in the bioscience industry.

According to a recently released analysis by Cleveland-based BioEnterprise, Ohio has become the leading state between the coasts and one of the top five in the nation for healthcare venture capital firms, a key measurement in the strength of bioscience economies. Ohio bioscience companies in 2007 attracted $296 million in venture investments.

Ohio’s strength in bioscience is no secret to the rest of the world, as evidenced by the first-ever annual meeting of the National Agricultural Biotechnology Council coupled with the bi-annual Ohio Polymer Summit in Columbus on June 3-5. This conference highlights Ohio’s growing global dominance in the convergence of the health, agriculture and industrial sectors of the bioscience industry, the Red, Green, and White sectors that comprise Ohio bioscience.

Based on the color model established by European bioscience leaders, Ohio’s strength in the Red (health), Green (agriculture), and White (industrial) bioscience industry sectors stimulates innovation, promotes cross-collaboration and provides cost-effective solutions to scientific challenges.

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Ohio’s Higher Education

Did you know Ohio has a plan for higher education? It goes further than just a plan; it is commitment at the highest levels of state government to increase college graduations to turn around Ohio's struggling economy by supporting its workforce. Ohio is making its higher education system accountable to state investment, increasing the responsibility for Ohio's public colleges and universities to prove they are directly contributing to the state’s economic development.

Ohio's higher education reform will:

• Dramatically increase the number of Ohio college graduates supplying the workforce, thus contributing to an economic upswing.
• Tie higher education funding to university outcomes to produce graduating industry experts in the needed economic sectors, rather than solely rewarding enrollment.

These are bold steps that the rest of the country will want to watch carefully.

To support the need for such a reform, I recently spoke with Richard Simpson, managing partner at Bricker & Eckler LLP, on how the leading legal firm continuously turns to the state’s exceptional academic institutions for the latest crop of promising attorneys.

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Ohio Attracts Top Medical Leaders

The health care industry has the potential to be a high-stress and intense work environment, long commutes and little outside culture and entertainment can add even more strain with no personal reprieve in sight. As Ohio is known for being "The State of Perfect Balance," many of the state's health care professionals can truly enjoy their leisurely pursuits outside of the operating room.

I recently spoke with Dr. Chip Souba, dean of The Ohio State (OSU) College of Medicine, interim senior vice president for Health Sciences and CEO of The OSU Medical Center, about how Ohio's work:life balance opportunities have helped the academic center recruit top students and medical experts.

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Statewide Tax Incentive Rewards Ohio Businesses

Ohio's recently reformed tax initiative assists young businesses, especially startups, in providing them with extra capital to further enhance their services or products—even expand staff. The reformed initiative nourishes Ohio's businesses, but also supports outside entrepreneurs looking to call Ohio home.

I recently spoke with A.J. Hyland, president and CEO of Hyland Software Inc., about how Ohio's current tax initiative is helping small businesses to become sustainable and competitive in their respective markets.

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