LETTER: Keep Third Frontier

I support continued funding for the Ohio Third Frontier program through a $700 million bond issue on the May 4 ballot. The pr
Commentary
Apr 21, 2010

 

I support continued funding for the Ohio Third Frontier program through a $700 million bond issue on the May 4 ballot.

The program is the centerpiece of Ohio's technology-based economic development and job creation efforts. Created in 2002, it represents an unprecedented and bipartisan commitment to expand Ohio's technological strengths and promote growth, development and economic prosperity. Funds are awarded through a competitive process in which independent experts evaluate projects and support those with the greatest promise for fueling long-term economic growth and creating new jobs.

These jobs and this growth are in new industries and forward-thinking technologies that will lead our state through this century: biomedicine, renewable energy, advanced manufacturing and other growth areas.

Without raising taxes, Issue 1 will authorize Ohio to sell bonds to raise up to $700 million so the Third Frontier can continue for another four years.

Two major independent studies documented that through June 30, 2009, the Third Frontier program:

-- created 48,0000 new jobs,

-- created, attracted or capitalized 571 start-up companies,

-- supported expansion of many existing businesses,

-- generated more than $6.6 billion in economic activity, and

-- produced an average return on investment of about 22 percent per year over the life of the program.

State Rep. Dennis Murray

D-Sandusky