Gov. Ted Strickland: ‘I believe in Ohio’

COLUMBUS, Ohio — Ohio Gov. Ted Strickland did not mention the terms “biomedical” or “health care” in his State of the State address at noon today. However, Strickland did announce several business investment, research and worker-training programs that could help companies in these industries grow and create jobs.

Ohio’s governor also challenged its legislators to meet a Feb. 3 deadline for getting the renewal of the Ohio Third Frontier project on the May ballot. Third Frontier is the state’s $1.6 billion, 10-year economic development plan based on investing in research, commercialization and entrepreneurship in five industry clusters, including biomedical.

Strickland’s speech, which may go down in history as his “I believe in Ohio” speech, was high on the state’s renewable and alternative energy investment and development initiatives, as well as its efforts to rebuild elementary and high school systems. He celebrated state government’s increasing operating efficiency — especially in light of a troubled budget.

But he also acknowledged that the worldwide financial crisis had hurt Ohio’s businesses, and through them, its workers.

“Ohio business leaders have told me time and again that lack of access to capital impedes them from competing and expanding,” Strickland said. “Our businesses are operating with one hand tied behind their backs because when Wall Street ran amok, it damaged the American economy, and it created a credit crunch for even the most fiscally sound companies.”

Small manufacturers that could gear up operations and employment to meet increasing orders can’t do so because they lack working capital. “If they miss this window to expand and innovate, it could cost Ohioans jobs for a generation,” Strickland said. “Quite frankly, I am convinced that this is the single greatest factor inhibiting economic recovery.”

To answer the problem, Strickland announced the Small Business Growth Partnership — a group of Ohio lenders that initially will act as a clearinghouse to point small businesses to sources of working capital to grow and create jobs.

Lt. Governor Lee Fisher and Ohio Treasurer Kevin Boyce also are meeting with the bankers to establish a “working capital jobs fund” that would become a source of business capital. “Now, let me be clear. This is not a bailout; it’s not a handout. These are loans for companies that could make more products, more profits, and more importantly, more jobs if they simply had the required capital.”

Other business initiatives announced by Strickland:

Insource Ohio — a collaboration of the Ohio Department of Development, Department of Job and Family Services and Board of Regents that could help Ohio companies outsourcing work to see the competitive value of employing workers in the state.
Manufacturing certificate — a certificate that would document workers’ job skills and experiences for future employers.
Build Your Own Business — Strickland would use casino licensing fees to support a statewide expansion of a Lorain County Community College program that educates and supports budding business owners.
Co-op internship program — Strickland asked the legislature to use casino fees to enable college students to get on-the-job experience through internships and encourage them to stay in Ohio.
Ohio Workforce Guarantee — he also wants to use casino money to train companies to avert layoffs and expand.
Procter & Gamble agreement — Attorney General Richard Cordray is trying to agree with the Cincinnati consumer products giant on a way to speed up and strengthen research collaborations with University System of Ohio schools so the company can commercialize more products and create jobs.
Ohio Neighborhood Harvest — a map of access to healthy, locally grown food that would connect farmers with consumers.
JumpStart Inc. partnership — working with the Cleveland-based venture development organization to help high-potential minority companies develop business plans that unlock sustained growth and access to angel and venture capital.