Cooper Tire gets $2.8 million for global tech center in FindlayWritten by Duane Ramsey | | email@example.com
Cooper Tire & Rubber Company of Findlay is set to receive $2.8 million in funding from the Ohio Third Frontier Commission for its Global Technical Center to be located in that community. The funding was approved by the State Controlling Board of Ohio.
The Global Technical Center will accelerate research and development of advanced tire and material technologies that could be incorporated into new products manufactured around the world, including at Cooper Tire’s current production facility in Findlay.
Cooper Tire will commit more than $40 million to the project over the next five years, and will create 40 full-time jobs over the next three years including engineers, researchers, scientists, technicians and technical managers, according to Anne Roman, vice president of communications and public affairs at Copper Tire & Rubber.
The Global Technology Center will be the company’s worldwide center for tire science technology, advanced technology and innovation. The company currently operates three regional tech centers located in Findlay, Melksham, England and Shanghai, China.
The Findlay market was ranked in the top 10 nationally for overall economic growth by Nielsen’s Business Growth Index (BGI), which tracks changes in the number and size of all businesses over time.
Much of that growth has come from recent corporate developments in the town, which is now home to Marathon Petroleum and a global tech center for Cooper Tire and Rubber Co., as well as increased business travel and large events, according to Findlay-Hancock County Economic Development Director, Anthony Iriti and Convention & Visitors Bureau Director, Angela Crist.
“We are pleased to have approval of the Ohio Third Frontier Commissioners but waited for approval of the controlling board before making any announcement. We plan to locate the Global Technical Center in Findlay within the same building where the U.S. regional tech center already exists,” Roman said.
The agency announced approval for total of $3.6 million in funding for investment in projects that support innovation and technology through the Industrial Research and Development Center Program (IRDCP). That program helps attract and expand large, nationally designated and highly visible corporate, nonprofit or federal research and development centers or laboratory facilities to Ohio.
“Today’s investments further strengthen Ohio’s tech-based economy and the development of promising technologies and business ventures,” stated Christiane Schmenk, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission.
“Ohio Third Frontier continues to see great results as we work to support innovation, commercialization and the attraction of capital and talent, which will have a direct impact on the success and prosperity of our economy,” Schenk stated in the press release announcing the funding.
Ohio Third Frontier is a bipartisan commission formed to support new technology-based products, companies, industries and jobs. It has attracted more than $8 billion in other investments to Ohio and has a nearly 9:1 return on investment since its inception.
The Ohio Third Frontier has also assisted in the creation and retention of more than 95,000 direct and indirect jobs for Ohioans, according to the commission. For more information, visit ohiothirdfrontier.com.