Akron, OH – The Polymer Industry Cluster, powered by the Greater Akron Chamber, has been named Ohio’s third applicant to receive an award from Ohio’s Innovation Hubs Program. The program’s $31.25 million award to fund the Greater Akron Polymer Innovation Hub project, led by the Polymer Industry Cluster, will be matched by $10.4 million from local partners.
Funding from the Ohio Innovation Hubs program will support the consortium’s work to enhance innovation and growth outcomes
within the industry and across the region; attract new businesses, capital, talent, and ideas; and drive economic growth and job creation in Northeast Ohio. Over the course of the next seven years, the Polymer Industry Cluster anticipates the Greater Akron Polymer Innovation Hub project will catalyze:
- Nearly 2,400 new jobs in Akron Metropolitan Statistical Area (MSA)
- 500 STEM credentials
- $68 million of catalyzed additional investment in the polymer industry
“This accomplishment is a testament to the work and collaboration of the Polymer Industry Cluster over the last three years,” said Steve Millard, President and CEO of the Greater Akron Chamber. “Since the consortium was formed in 2021, we estimated this work would take a $200 million investment over the next decade. And since then, we’ve been working to pinpoint ecosystem gaps and development opportunities in the polymer industry and lay out plans to drive growth and innovation. We look forward to hitting the ground running alongside our partners and seeing those plans come to fruition, especially with the positive economic impact it will have on our region.”
Approximately $25 million will support a Polymer Pilot Plant, a shared asset for the industry that will facilitate the scaling, testing, and prototyping of new materials. The remaining funds will be distributed to support work within the areas of R&D, workforce, startups, and staffing to support the longevity of the Polymer Industry Cluster and foster growth to enable future investments from the federal, state, and private level.
This announcement follows Greater Akron’s designation as the Sustainable Polymers Tech Hub of the United States by the U.S. Department of Commerce Economic Development Administration (EDA) and a recipient of a $51 million investment as part of the EDA’s Phase 2 awards. The state and federal awards are distinct yet complementary to one another, and together will help advance our future as a global center for sustainable polymer innovations.
“Our success is the direct result of a collaboration among our growing coalition of partners in business, economic development, and higher-education, and garnered support from elected officials at every level of government who see the potential of this region,” said Brian Anderson, Vice President, Polymer Industry Cluster. “By creating the Ohio Innovation Hub program, the leadership of Governor Mike DeWine, Lt. Gov. Jon Husted, Director Lydia Mihalik, and the Ohio Legislature has put us in a position to drive sustained economic growth in our region.”
The goal of the Polymer Industry Cluster’s efforts is to leverage the region’s existing world-class assets in the polymer industry and academic institutions, and to emphasize its unique and valuable cross-sector collaboration, all to catalyzing new growth and accelerating impactful innovations. With over 150 polymer-related manufacturing companies in Akron MSA alone, and more than 500 across Northeast Ohio, this award is another step towards solidifying Akron MSA and Ohio as the undisputed global destination for innovation and growth in and around the polymer industry.
“This investment builds on the region’s historical and current industrial and academic strength in all aspects of polymer technology, continuing to develop the workforce, creating the physical infrastructure and attracting the thought leaders and start-up culture necessary to move to a sustainable future,” said Mark Smale, Executive Director of Advanced Polymer Science, Bridgestone Americas and Co-Chair of the Polymer Industry Cluster. “Getting to this point required visionary leadership working together at the state and local level and demonstrates the commitment from the State of Ohio to lead the nation and the world in creation and deployment of advanced technologies. I am honored to have the opportunity to help make this a reality.”
“The Greater Akron area is unique in its talent, ingenuity and innovation. These qualities were the impetus for the formation of the tire industry here more than 125 years ago,” said Erin Spring, senior director, Global Material Science, The Goodyear Tire & Rubber Company and Co-Chair of the Polymer Industry Cluster. “Now, with the Polymer Innovation Hub, we have before us an unprecedented opportunity to take our community’s history and build our next exciting chapter, positioning Greater Akron to continue advancing technology and sustainability. Goodyear is honored to be part of this effort and grateful to the State of Ohio for its vision and support.”
“The Innovation Hub award is a game-changer for Greater Akron and our entire region. It is gratifying for the State of Ohio to recognize the area’s world-wide reputation for expertise in polymers and to reaffirm our vital role in the industry,” said President R.J. Nemer, The University of Akron. “The University of Akron is eager to continue working with our polymer partners in producing cutting-edge research, developing new applications to advance Ohio’s economy and training a highly skilled workforce. The Polymer Pilot Facility, a significant part of the Innovation Hub Award, will encourage even more collaboration between the industry and UA.”
About the Ohio Innovation Hubs Program
Created by the DeWine-Husted Administration in partnership with the Ohio General Assembly, the $125 million Ohio Innovations Hubs Program will capitalize on communities’ existing industry and research strengths to build sustainable pipeline talent and commercialize new products and technologies. Aimed at small and medium-sized Ohio cities, the hubs will create jobs, increase STEM talent, and attract research funding and outside capital investment.
Funding for the program was made possible through Am. Sub. House Bill 33, the Fiscal Year 2024-2025 State Operating Budget, and is being administered by the Ohio Department of Development.
For more information about the Ohio Innovation Hubs Program, visit development.ohio.gov/InnovationHubs.
For more information on the Polymer Industry Cluster, visit greaterakronchamber.org.
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About the Greater Akron Chamber
The Greater Akron Chamber is a business membership and economic development organization serving Summit, Medina, and Portage counties. The Greater Akron Chamber drives economic growth and prosperity for the region by supporting the success of the business community and acting as a convener of stakeholders on key issues facing Greater Akron.
About the Polymer Industry Cluster
The Polymer Industry Cluster Initiative was launched in 2021 to conduct a deeper examination of the region’s polymer industry and develop a framework to leverage its full potential. Powered by the Greater Akron Chamber, the Polymer Industry Cluster works to elevate Northeast Ohio’s polymer industry into a truly dynamic enterprise that is better positioned for strong, sustainable growth in an ever-changing global economy.