Perspectives

Ohio’s Third Frontier Fund Supports Statewide Technology Development

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For nearly 13 years, Ohio’s Third Frontier Fund has supported technology-based economic development across the state and has risen to one of the most successful funds in the nation.

The Third Frontier Fund helps support TechGROWTH Ohio and other innovation activities in Southeastern Ohio.

David Goodman, the Director of the Ohio Development Service Agency under Governor John Kasich, acts as chair of the Ohio Third Frontier Commission which is internationally recognized as successfully changing the trajectory of Ohio’s economy.

Recently, he talked with WOUB’s Tom Hodson about the Fund and how it supports innovation and entrepreneurship in this region.

The Third Frontier fund currently supports $2.1 billion in commercialization efforts along with new technology and new research and development in Ohio.

It also helps support the creation of new technology-based companies, along with helping universities, nonprofit research institutions and others organizations to create companies, investments and jobs.

Since 2006, The Third Frontier Fund has invested in 287 companies and has helped create 2,130 jobs in Ohio. It has fostered $1.3 million in equity and $833 million in product sales and revenue.

Goodman was appointed Director of the Ohio Development Service Agency in March of 2013. Before that, he served as Director of the Ohio Department of Commerce from 2011-2013.