From the Statehouse

By Jennifer Garrison

January 22, 2010

One of the most important challenges state lawmakers are charged with is providing for Ohio’s economic future, and that means jobs. Helping create new jobs is our top priority, especially during this historic recession.

That’s why I have joined with business leaders across the state to support renewing and expanding the Ohio Third Frontier Program.  

The Third Frontier Program has created thousands of Ohio jobs and jump started high-growth industries such as the biomedical, advanced materials and alternative energy sectors. We cannot risk slowing the positive economic growth that this successful program has generated.

The Ohio Third Frontier Program began in 2002 with bipartisan legislative support and voter approval in 2005. Currently, it is a 10 year, $1.6 billion program that allows for targeted support of Ohio entrepreneurs and high-tech companies that diversify and accelerate Ohio’s knowledge-based economy.

Ohio’s future economic prosperity depends on our ability to shift from traditional manufacturing industries to the high-growth, technology-intensive industries of tomorrow. The Third Frontier not only accelerates our economic transition, it also creates good-paying jobs for Ohioans.

According to an independent evaluation conducted by Stanford Research Institute (SRI) International, the Ohio Third Frontier program has already created 41,300 jobs over the past seven years with over $2.4 billion in employee wages and benefits. The report also showed that taxpayers were seeing more than a 10-to-one return on their investment. From 2003 to 2008 an investment of $681 million of state funding resulted in over $6.6 billion of statewide economic impact.

I hope we can continue this important program and expand its efforts to help move Ohio forward during difficult economic times.

House Joint Resolution 12 expands and extends the Third Frontier Program in our state. The resolution mirrors the original Third Frontier bond resolution, but it expands the program by $950 million, awarded over five to six years, with a yearly maximum of $190 million.

If no action is taken, the initial program will run out of funding in 2012. The program must be renewed by voters by May of 2011 to avoid any disruption in funding, but there is no statewide May vote that year, and a statewide special election would cost Ohio $5 million. Therefore, this coming May’s statewide primary election presents the best opportunity to renew the Third Frontier Program without any funding disruptions.

Disruption in the program, or even the appearance of potential disruption or cancelation of the program, would scare off venture capital investors who are flocking to Ohio to invest in Third Frontier companies. This would jeopardize the successes the program has already experienced. Early renewal of the program will convince venture capitalists to continue and expand their investments in Ohio’s high-tech industries.

Ohio’s Office of Budget and Management has met with several bond rating agencies who have determined that the new Third Frontier Program will not have a negative impact on our state’s bond rating. 

The bill also requires independent reviewers to evaluate the merits of proposed research projects and to make recommendations concerning which proposals should receive Third Frontier funding.

I  voted “yes” as the resolution passed out the House with bi-partisan support. I look forward to timely approval in the Senate so that the issue can appear on the May ballot and allow the Third Frontier Program to continue creating jobs and laying the foundation for Ohio’s 21st Century economy for years to come.

You can reach Jennifer Garrison in her Columbus office at (614)644-8728, in the district at (740)373-2414 or by email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .  Her website is www.jennifergarrison.com.