Greater Akron Polymer Innovation Hub Launched
AKRON, Ohio – The Greater Akron Polymer Innovation Hub will position the Greater Akron region as a global leader in polymer research, development and technology.
Gov. Mike DeWine, Lt. Gov. Jon Husted and Lydia Mihalik, Ohio Department of Development director, announced the creation of the state’s third Innovation Hub on Friday.
Supported by $31.25 million in state funding from the Ohio Innovation Hubs program and more than $10 million in local investment, the new Greater Akron Polymer Innovation Hub will accelerate innovations and support new economic growth by capitalizing on the region’s long-standing expertise in polymer science.
“Akron’s history in polymer innovation goes back more than 100 years. And now, the Greater Akron Polymer Innovation Hub will lead this industry into the future, bringing tremendous economic growth to the area, thousands of jobs and millions in new revenue and investments,” DeWine said. “This hub will also support Ohio’s emerging semiconductor and battery manufacturing industries, which both rely heavily on polymer materials.”
The Greater Akron Polymer Innovation Hub is led by more than 70 partner agencies comprising the Polymer Industry Cluster, including the Greater Akron Chamber, Goodyear Tire & Rubber Co., Bridgestone Americas, Synthomer, The University of Akron, the city of Akron and Summit County. A significant portion of the state’s funding will be used to construct the hub’s Polymer Pilot Plant, which will serve as the centralized location where partners will focus on polymer innovations related to health care, mobility, electronics, semiconductors, industrial materials and energy.
“Akron has a strong foundation with the polymer industry, and with state Innovation Hub status and funding, we have a strategy to also prepare Akron to be the future for polymer science and manufacturing,” Husted said. “Leadership in polymer R&D allows companies to create new and improved materials with better properties such as strength, durability, flexibility and sustainability – making Akron the place to be for companies that need access to these innovations.”
By 2031, project partners expect the work of the Greater Akron Polymer Innovation Hub to create approximately 2,400 new jobs, $75 million in new research dollars and $43 million in increased state revenue.
To ensure the continued growth of the polymer industry over the long term, partners will work to develop the local workforce by increasing the number of STEM credentials by at least 500; upskilling those who are underemployed; and attracting and retaining the next generation of scientists and engineers. The hub will also drive support for small businesses commercializing new polymer applications.
“Through our Innovation Hubs program, we’re shining the spotlight on what makes Ohio a national leader in job creation, business growth and innovative ideas,” Mihalik said. “The Greater Akron Polymer Innovation Hub will stimulate growth and economic development across this region and further solidify Ohio as a world leader in this important industry.”
Published by The Business Journal, Youngstown, Ohio.
