- Akron’s Polymer Industry Cluster is seeking up to $70 million in federal funds to boost jobs, sustainability, and economic growth.
- The funding proposal was sent to the U.S. Department of Commerce’s Economic Development Administration and the Innovation Hubs Program, with support from Sen. Sherrod Brown and bipartisan House members.
- If awarded, the funding would create 6,300 industry jobs, bring in $1.8 billion in private investment, and focus on technology maturation and workforce development.
- The Sustainable Polymers Tech Hub aims to reduce carbon dioxide emissions by 3.9 million tons annually through projects focused on sustainability and innovation.
- The cluster’s growth would benefit Akron, Summit County, and Portage County by creating well-paying job opportunities, increasing tax base, and boosting demand for professional services and businesses.
Akron Polymer Industry Cluster Seeks Federal Funding
The Akron Polymer Industry Cluster is making a significant move to secure up to $70 million in federal funds to bolster job creation, sustainability, and economic growth within the region. This initiative aims to maintain or add 6,300 industry jobs and attract $1.8 billion in direct private investment. The cluster recently submitted a funding proposal to the U.S. Department of Commerce’s Economic Development Administration (EDA) and the Innovation Hubs Program (Tech Hubs). This endeavor has garnered bipartisan support, with U.S. Sen. Sherrod Brown and various members of the U.S. House advocating for the funding.
Support from Congressional Representatives
The push for federal funding has received backing from both Democratic and Republican members of Congress. Representatives such as Emilia Sykes, Shontel Brown, Joyce Beatty, Max Miller, and Mike Carey have expressed their support for the Akron Polymer Industry Cluster’s funding proposal. Sykes, in particular, highlighted the far-reaching benefits that this funding could bring not only to Akron and Northeast Ohio but to the nation as a whole. The potential impact of the funding resonates with various stakeholders, underscoring the significance of this initiative.
Impacts of EDA Funding on Job Creation and Training
The injection of EDA funding into the Akron Polymer Industry Cluster could yield a host of employment opportunities and job training programs in the area. This would not only result in the creation of well-paying jobs but also offer avenues for skill development and training for students at institutions like the University of Akron and Stark State. The economic benefits of this funding extend beyond job creation, fostering a positive environment for the growth and development of Summit County as a whole.
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Sustainable Polymers Tech Hub and Environmental Impact
The Akron Polymer Industry Cluster’s designation as the Sustainable Polymers Tech Hub underscores its commitment to sustainability and innovation in the polymer sector. With a strategic focus on synthetic polymers, the cluster aims to leverage EDA funding to drive projects that could potentially reduce carbon dioxide emissions by a significant margin annually. This emphasis on sustainability aligns with broader global goals and positions Akron as a leader in environmentally conscious polymer technologies.
The quest for federal funding by the Akron Polymer Industry Cluster represents a pivotal moment in the region’s economic landscape. The potential infusion of $70 million could spark a wave of job creation, innovation, and sustainability efforts, propelling Akron to the forefront of the polymer industry. With bipartisan support and a strong focus on environmental responsibility, this initiative holds the promise of transforming not just the local economy but also contributing to broader national objectives. As decisions on funding loom on the horizon, the Akron Polymer Industry Cluster stands poised to make a lasting impact on the industry and the community it serves.
