The Greater Akron region will soon be home to a $41.65 million "innovation hub" focused on the research and development of polymer science, Ohio Gov. Mike DeWine and other state officials announced Thursday.
The Greater Akron Polymer Innovation Hub is Ohio's third "innovation hub" and will involve a centralized Polymer Pilot Plant where partner labs from more than 70 agencies will work on projects in fields such as healthcare, mobility, electronics, semiconductors, industrial materials and energy, DeWine's office said in a press release.
"Akron's history in polymer innovation goes back more than 100 years, and now, the Greater Akron Polymer Innovation Hub will lead this industry into the future, bringing tremendous economic growth to the area, thousands of jobs, and millions in new revenue and investments," said Governor DeWine. "This hub will also support Ohio's emerging semiconductor and battery manufacturing industries, which both rely heavily on polymer materials."
Participating in the Greater Akron Polymer Innovation Hub will be more than 70 organizations that make up the "Polymer Industry Cluster," including Greater Akron Chamber, Goodyear Tire & Rubber Company, Continental, Bridgestone Americas, Synthomer, The University of Akron, the city of Akron, and Summit County.
Organizers aim for the hub to create around 2,400 new jobs and bring in $75 million in research dollars and $43 million in increased state revenue by 2031. Partners hope to bolster the number of Greater Akron residents working in the science, technology, engineering and math fields by at least 500.
“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 of global material science for Goodyear 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."
Steve Millard, president and CEO of the Greater Akron Chamber, said the innovation hub was the result of three years of work and collaboration by the partners of the Polymer Industry Cluster.
“Since the consortium was formed in 2021, we estimated this work would take a $200 million investment over the next decade," Millard said. "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.”
