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Evidence shows that new technology companies flourish when clustered together with other high technology companies. Innovation Park further plans to attract technology companies that can promote opportunities for the creation of new products and processes resulting in new jobs and fostering economic prosperity.
The total cost to ready the park and build the University Center is approximately $10.6 million. Medina County was awarded a $1 million grant from the Ohio Department of Development under the 2004 Research Park Roadwork Infrastructure Assistance Fund. These funds have been used to offset costs associated with construction of public roadways by the Medina County Transportation Improvement District in the park and MCUC. This award was made possible through Governor Taft’s Third Frontier Initiative which is focused upon creating and expanding high-tech research capabilities and promoting start-up companies thereby creating high-wage jobs. This successful step in the building of the Innovation Park and MCUC is due to the combined efforts and cooperation of the Board of County Commissioners and the Medina County Port Authority with the University of Akron, the University Taskforce and other local and state officials.
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