Congressman Tim Ryan Announces $2.5 Million for Construction of an Innovation Center in Akron
Akron, Ohio – Congressman Tim Ryan today is announcing $2.5 million in federal funds for the construction of the Bits and Atoms Innovation Center in Akron, Ohio. The Bits and Atoms Innovation Center will be an acceleration/incubator hybrid and will consist of technology-rich collaborative workspaces to foster collaboration and opportunities for Northeast Ohio entrepreneurs. The Bits and Atoms Center anticipates the creation 65 new jobs.
“I am proud to support the funding and construction of this cutting edge innovation center right here in the heart of Akron. The Bits and Atoms Innovation Center will create 65 good-paying jobs for the “makers” in our community who are paving the way for tomorrow’s future,” said Congressman Tim Ryan. “Between the Think[Box] in Cleveland, America Makes in Youngstown and now Akron’s Bits and Atoms Innovation Center, a new Maker Triangle is forming in Northeast Ohio that has the potential to be a nationally-known destination for businesses seeking areas rich in research and innovation.
“This is an exciting announcement for the City of Akron and Akron Global Business Accelerator. The Bits and Atoms Innovation Center will be a great complement to our already successful Technology Acceleration Program. This Center will help us further develop an innovation district within the city that will enhance collaboration and help individuals create anything and build a business around it,” said Dr. Anthony Margida, Chief Executive Officer of the Akron Global Business Accelerator.
Congressman Tim Ryan wrote a letter of support to U.S. Department of Commerce on June 10th for this project and its funding. Read the full letter here.
These funds were secured by the Akron Global Business Accelerator for the construction of the Bits and Atoms Innovation Center. The total cost of the project will be $4.5 million, with the remaining $2 million coming from State funds through the Ohio Capital Awards Program, which the City of Akron intends to leverage as matching funds to complete the project.