Ohio's Third Frontier program - voters approve

Yesterday was election day in a number of states -- mostly primaries. But in Ohio, there was a ballot issue to continue funding of the Third Frontier program. According to their website:

The Ohio Third Frontier represents an unprecedented and bipartisan commitment to expand Ohio's technological strengths and promote commercialization that leads to economic prosperity throughout Ohio. Designed to build world-class research programs, nurture early-stage companies, and foster technology development that makes existing industries more productive, Ohio Third Frontier creates opportunity through innovation.

The program was up for renewed funding and this morning's Cleveland Plain Dealer reports the $700 million renewal was winning by 61% with 85 percent of precincts reporting. As the story notes, the proposal had no organized opposition. However, the supporters were taking no chances and formed a group United for Jobs and Ohio's Future to push for a Yes vote. The list of supporters is impressive -- not only does it include business, labor and academic organizations, it can boast of support from both the Ohio Republican and Democratic Parties.

That support is especially impressive given the breath of the Third Frontier's programs - which go beyond funding basic research. One of my favorites is the Innovation Ohio Loan Fund:

The Innovation Ohio Loan Fund (IOLF) was created to assist existing Ohio companies develop next-generation products and services within certain Targeted Industry Sectors by financing the acquisition, construction, and related costs of technology, facilities, and equipment. Ohio's manufacturing sector is a key target of this program. The IOLF addresses an identified need in the capital-funding continuum, the IOLF is intended to supply capital to Ohio companies having difficulty securing funds from conventional sources due to technical and commercial risk factors associated with the development of a new product or service. The IOLF can finance up to 75 percent of a project's allowable costs to a maximum of $2 million and a minimum of $500,000.

This is not a research program, this is commercialization -- as the chart below from their website shows:

Bottom line: the states get this -- it is all about economic development. But, for some reason ideas that everyone accepts on the state level to help create jobs and spur innovation often get bogged down in ideological debates when they get to Washington. Maybe the voters and politicians of Ohio have helped breakthrough that barrier.