Introducing the Cincinnati Innovation District™
Post Date: March 6, 2020 | Publish Date:
Unique Public-Private Partnership Aims to Accelerate More Than 15K New STEM graduates and $2 Billion in Research to Bring in Over 20,000 New Jobs and $3 Billion in Annual Economic Impact
Ohio Governor Mike DeWine, Lt. Governor Jon Husted, and leaders from JobsOhio, the University of Cincinnati and Cincinnati Children’s Hospital Medical Center have announced a first-of-its-kind partnership designed to build, retain and attract talent to Ohio.
At a media briefing held March 6, 2020, they formally introduced the Cincinnati Innovation District™, to be anchored by UC and Cincinnati Children’s. The project seeks to make Cincinnati a magnet for talent that attracts Fortune 500, mid-size and developing start-up companies, and for the district to serve as a ‘blueprint’ for other initiatives in Ohio.
The announcement included a commitment from JobsOhio, the state’s economic development corporation, to invest up to $100 million to improve talent development and accelerate research and development initiatives at Cincinnati Children’s and UC.
“In partnering with the University of Cincinnati and Cincinnati Children’s to create this Innovation District, we are investing in opportunities for students and incumbent workers to build a successful career in Ohio, while unleashing the research and innovation happening on our university campuses and hospitals to help drive job creation,” DeWine says.
Combined, Cincinnati Children’s and UC devote more than $450 million a year to research. This work often results in discoveries that become the basis for innovative startups in the tech and healthcare sectors.
“We are energized by Jobs Ohio’s commitment to research and innovation,” says Michael Fisher, president and CEO of Cincinnati Children’s. “This unprecedented investment will help us continue to attract, retain and inspire exceptional talent from around the world; accelerate new discoveries, treatments, and cures; and, most importantly, make a difference in the health and lives of children in Ohio, and well beyond. We are very grateful for this exciting new partnership.”
The JobsOhio funding also will increase support for UC’s recently launched 1819 Innovation Hub and its Digital Futures complex, currently under development. These sites have already attracted corporate investments and have generated significant start-ups.
“This historic investment in our academic mission only reaffirms the world-class talent and immense promise of our faculty, staff and students,” says UC President Neville Pinto. “I want to extend a special thanks to my leadership team for partnering with JobsOhio to see this endeavor to success.”
Ultimately, the district has the potential to develop more than 2 million square feet of mixed-use buildings that will provide space for offices, labs, retail, housing and nightlife that will make the area attractive to job creation, private investment, and talent seeking an urban experience.
“The Cincinnati Innovation District is the next big thing for Cincinnati’s growth,” says Cincinnati Mayor John Cranley. “This partnership among the state, JobsOhio, the city, the University of Cincinnati, and Cincinnati Children’s Hospital will pay dividends for decades to come.”