So we all now understand the need to have a growing economy and the critical role that technology-oriented businesses play in this, but what are our chances of success? How do we do this?
There are two clear approaches:
1. Persuade existing technology companies to locate their offices in our region, and
2. Create new technology companies that can become the MicroSoft or Cisco of the next generation.
We’re currently doing both. Led by the CincinnatiUSA Partnership, our regional chamber of commerce and their economic development partners work hard to attract new technology businesses to our region with some success, but it’s a tough job. These businesses are being aggressively courted by every region because everyone knows how important they are to economic growth.
What has generally proved more successful is to create these technology businesses ourselves. Start them from scratch here in our region and keep them here. That’s the major focus of the technology growth initiatives in our region and the states of Kentucky and Ohio – to convert all the basic technology research, innovation and entrepreneurship into thriving, growing technology companies headquartered in our region.
It’s not easy. To start a new company requires great ideas, great technology and great sales execution that can drive the adoption of new, leading edge technology in the market. And, did I mention money? Lot’s of that, too.
But, we’re doing it and it’s working. Led by a great partnership among the States of Ohio and Kentucky with regional tech growth organizations like CincyTechUSA, regional incubators, academic research centers, angel investors, venture capital funders, etc. we are making it happen. The rate of new technology companies being founded in our region is up dramatically over the last few years as these strategic growth programs have gained traction.
So, what’s for me to do? It sounds like we’ve got a good program going and all the right people working together to make it happen.
You can help by supporting this effort whenever and however you can. It can be as simple as encouraging your neighbor who is considering taking a job with a local technology start-up company to make the leap, or encouraging that young engineering graduate to stay in our region and exploit their learning here.
But moret importantly, you can provide the public support that will get the job done. This means voting yes on bond issues needed to fund this work, talking to everyone you know about how your region, the Cincinnati Region, is on the move with technology growth and generating a positive view - it’s happening here and it’s happening fast.