Newly Released Study Finds that Ohio’s Investment in Tech Jobs is Paying Off

I recently read the results from an Ohio Business Roundtable study, which found that Ohio Third Frontier has provided a 22 percent annual return on investment. In fact, according to the study, 50 percent of Ohio Third Frontier investment has already been repaid in sales and income taxes – with the investment forecast to be completely repaid to the state by 2014.

The Ohio Business Roundtable’s study reports that employment growth supported by high-tech business development has created faster technology jobs growth in Ohio – the eighth-fastest pace of growth in the nation – than in nearly any other Midwest state, creating employment opportunities for Ohioans across all work backgrounds, at double the pay of non-tech sectors.

Employment numbers show Ohio is also gaining traction in the advanced materials, biomedical and power and propulsion sectors that Ohio Third Frontier specifically targets for business development. Since its inception in 2002, Ohio Third Frontier has created or capitalized more than 500 companies and has created $6.6 billion in economic impact in Ohio, a 9:1 return on investment. Click here to learn more about the newly released Ohio Business Roundtable study.