Rust Belt Renaissance; Biotech in the Buckeye State

Business of Biotech

Once upon a time in America there was a broad region known as the Manufacturing Belt, it followed the Great Lakes from New York to Wisconsin. These days you generally hear it called the Rust Belt. Despite the loss of hundreds of thousands of jobs, it remains one of the world’s preeminent manufacturing areas with a workforce that has been retooled to participate in an innovation economy.

Amid the sea of grim employment numbers and general lack of confidence in the current state of America’s economy, Ohio continues to see growth in the bioscience industry sector. The metro areas of Cleveland (go Tribe), Columbus and Cincinnati are verifiable hotbeds of bioscience entrepreneurism.

This is due is no small part to the retooling of the economy that I mentioned. Ohio’s Third Frontier program, a technology-based economic development initiative, supports existing industries that are transitioning themselves to compete in the new economy. The program also attracts and develops new companies in emerging industry sectors.

The facts speak for themselves – Ohio has seen 20% job growth in the bioscience sector over the last 10 years.

To learn more about Ohio’s growing bioscience economy, check out BioOhio’s annual growth report.

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