SOURCE: Ohio Business Development Coalition

April 04, 2007 09:59 ET

Bioscience Industry Is Booming in Ohio

State's Depth in Bioscience and Diverse Environment Promote Success

COLUMBUS, OH -- (MARKET WIRE) -- April 4, 2007 -- Ohio's depth and diversity of resources in the bioscience industry provides world-class support for research and development and investment opportunities, according to the Ohio Business Development Coalition (OBDC), a nonprofit organization that markets the state for capital investment and supports Ohio's economic development efforts.

"Ohio is the best place in the world to grow or expand a business in the bioscience industry," said Anthony Dennis, president and CEO of BioOhio. "Companies have immediate access to an asset base that allows them to maximize all phases of their business strategy. The state is also a major source of funding not only for strategic, technology-based initiatives that leverage existing Ohio strengths but also help fuel company formation and growth from those initiatives."

BioOhio is just one of more than 500 bioscience-related companies based in Ohio, which is home to some of the largest bioscience corporations in the world. These companies include Cardinal Health, Procter & Gamble Pharmaceuticals, Mettler-Toledo, Scotts, Dannon, Steris and more.

Industry innovation is driven by Ohio's Third Frontier Project, a $1.6 billion initiative to help catalyze connections between companies, entrepreneurs and academia. This sharing of knowledge often results in unexpected solutions with commercial application. Coupled with the state's 161 institutions of higher education -- per capita, more than any other state in the nation -- Ohio has established a structural foundation for strength in scientific research, development and commercialization.

Ohio's compact geographical size provides exceptional market access, creating a natural knowledge network where advances in one sector can be shared and applied quickly in another. Bioscience professionals are able to easily connect academic and private industry scientists, share scientific learning and encourage cross-collaboration in all areas of bioscience.

Using a color model established by European bio leaders, Ohio's robust bioscience landscape features both expertise and businesses in the Red (health), Green (agriculture) and White (industrial) segments of the industry. Ohio's combined depth of strength in each of these key areas and ease of cross-collaboration between bioscience professionals positions the state to become a national leader in the bioscience community.

"Ohio's Red, Green and White bioscience strengths make the state an ideal location for cross fertilization of knowledge that can lead to breakthrough innovation, but it doesn't end there," said Ed Burghard, executive director of the OBDC. "Diverse metropolitan centers, that are easily accessed from low-cost, low-stress communities, uniquely provide the opportunity for executives to also pursue their personal aspirations. We tell CEOs that Ohio is a great place to 'Build Your Business and Love Your Life."

About the Ohio Business Development Coalition

The Ohio Business Development Coalition is a nonprofit organization that provides marketing strategy and implementation to support Ohio's economic development efforts. For more information, visit http://www.ohiomeansbusiness.com.

Contact Information

  • Media Contact:
    Dace de la Foret
    Paul Werth Associates
    614-224-8114, ext. 235
    Email Contact