Small business benefits from senate's effort

by Philip Elliott
THE POST

A bipartisan bill passed in the U.S. Congress will benefit the Ohio University Innovation Center by allotting $400,000 to increase the center's size and generate about 465 jobs over six years – if the White House approves it.

Both the House of Representatives and Senate approved the Veterans Affairs and Housing and Urban Development budget, with measures sponsored in the House by Ted Strickland, D-Ohio and in the Senate by Mike DeWine, R-Ohio.

"Strengthening the economic base of the region by assisting local and regional businesses is something we need to do," DeWine said in a news release. "(The center's) goals are clear, unfortunately due to limited space they cannot meet the demands of their current tenants or expand services."

The OU Innovations Center, based out of Building 20 at The Ridges, is an incubator facility that assists business start-ups, said Gary Meyer, OU vice president for economic and technology development. Its annual operating budget is roughly $150,000, he said.

The center's expansions are estimated to cost about $4.5 million, Strickland said. The government funding is not exhausted yet and more funds may be finagled, he said. OU might also contribute funds.

The center has an 11,000 square-foot capacity, but will increase its rental area to 25,000 square feet if the measure is approved, according to news releases from the offices of DeWine and Strickland. The additional 14,000 square feet will house up to 60 new tenants.

"We've outgrown it," said Pam Parker, OU assistant vice president for external relations.

OU officials have not pinpointed the location of the new center, said Kelli Whitlock, OU director of research communications. One location being considered is on West State Street, near the biochemistry and biological sciences building under construction, though plans are far from finalized, she said.

The innovation center houses 11 businesses, eight of which are based at The Ridges, Meyer said. The other three are affiliates who use the facilities for phone, fax and Internet access.

But the center is just one piece of the economic revival in southeast Ohio, Strickland said.

"There's not a silver bullet for economic development in our region," he said. "There are specific pieces for an economic development puzzle that must be in place. This is one of those pieces."

The White House approval is expected soon and without problems, Strickland said.

"It's through House and Senate," he said. "There's no indication there will be any roadblocks. All we need now is the signature of the president."