Chamber of Commerce Group Proposes Ideas On Growing Innovation Economy

Jul 18, 2018

A research arm of the state’s leading business lobby has put together a set of recommendations to improve the economy by growing innovation. That proposal has been presented to the candidates for governor.

The report says Ohio has seen lagging growth in population, per capita income and wages, but growing levels of poverty.

Brian Hicks with the Ohio Chamber of Commerce Research Foundation says the state should invest in nextgen manufacturing, health, smart infrastructure and data analytics. “We’re not talking about tens of millions of dollars of investment to really make the difference that this report calls for. But we’re talking about hundreds of millions of dollars of investment over a period of time.”

The report says that money could come from liquor funds from JobsOhio, Ohio’s Third Frontier initiative, federal dollars and private investment. The report also suggests an overhaul of the tax code and expanding tax credits to attract venture capital and to keep graduates in Ohio.