Ohio University Incubator Adds $7.2M to Economy
ATHENS, Ohio – The Ohio University Innovation Center generated $7.2 million in employee compensation and supported 176 jobs last year, according to an economic report put together by the university’s Voinovich School of Leadership and Public Affairs.
The jobs figure represents “the number of jobs created directly, indirectly or induced by” the dozen companies at the business incubator. In 2013, the incubator helped create 123 jobs, 53 fewer than last year, and 140 in 2014.
The Innovation Center was also responsible for $837,543 in state and local tax revenues in 2015. Twelve companies in industries ranging from biotechnology to software development are housed in the incubator.
“These figures provide tangible evidence that southeast Ohio is an especially promising place for entrepreneurs and new ventures,” said Innovation Center associate director Stacy Strauss in a release. “The services that the Innovation Center and its partners provide truly do promote economic development.”
The full report is available at Ohio.edu/innovation.
Pictured: The Ohio University Innovation Center.
Copyright 2023 The Business Journal, Youngstown, Ohio.