Posted Tuesday, April 6, 2010
Supporters of the Third Frontier program say it's one of Ohio's most successful economic development efforts. Since 2005, the state has pumped hundreds of millions into high tech companies, and officials say that investment has created 48,000 jobs and more than $6.6 billion in economic impact. Now, Issue 1 on the May ballot asks whether voters should approve another $700 million for the Third Frontier. Tuesday morning at 9, join host Dan Moulthrop for a forum on Issue 1.
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Just wanted to note my support for Issue 1. My company is just about to receive funding which was critical considering the banks are not helping. In addition, most investors in recent years have also gone dry. Considering the difficulties in finding and keeping tech based employees here in Ohio’s, this program is vital in encouraging those jobs to remain.
One other vital note, many of the funds (including our funding) are loans so that the money is paid back. In our particular program there is also a participation fee paid back at the end. In addition, our program strictly requires the funds be used to fuel job creation.
Last but not least, the program is also very extensive in evaluating the recipients that receive funding in order to be sure the companies are viable. The due diligence process is incredibly thorough.
We’ve just added 2 jobs and are currently adding 3 more. Very much looking forward to extensive growth that remains right here in NE Ohio.