header
In This Issue
November Elections
Legislative Update
Ohio Economic Development
A new SPARC...

November 2012

 

Dear Friends:

 

When Paul McCartney wrote the "The Long and Winding Road", I'm sure he never thought it could be an anthem for a political campaign.  But indeed, the elections of 2012 have been a twisty trail that did little more than lead us to where we are-- a confirmation of the status quo.  Now that we've reached our electoral destination, attention turns to the challenges that lay ahead.

With a lame duck state legislative session in store and the federal fiscal cliff looming over the horizon, it is critical that our leaders tackle several tough near term issues in the days ahead, all the while making key investments into long term job creating opportunities.

In this newsletter, we'll provide a brief recap of the elections, look forward to issues to be debated during lame duck session, discuss upcoming opportunities for Ohio Third Frontier funding and Ohio medical companies, and examine a new SPARC for Columbus.

    

As always, please feel free to contact any of us at Hicks Partners if we can be of assistance.  

 

Sincerely,

 

 

Brian K. Hicks

President & CEO

November Elections

 

Election Results elephant and donkey patriotic

 

Ohio once again fulfilled its promise to be the center and the decider of the nation's political landscape. As the dust from campaign season settles, it is worth looking at a recap of some of the most watched races in the Buckeye State.
 
Ohio continued its tradition of picking the winner by going with President Obama.  And in one of the most bitter statewide campaigns ever, Ohioans overwhelmingly returned Sherrod Brown to the United States Senate. However, there were many other lower profile contests that will have great impact on Ohioans in the coming years.
 
In the U.S. House of Representatives, Republicans will continue to hold the majority allowing Ohioan John Boehner to remain Speaker. Ohio will send 12 Republicans and 4 Democrats to the U.S. House of Representatives next year.   In one of the most watched House battles in the country, two sitting members of Congress battled to represent the 16th District with voters ultimately returning Congressman Jim Renacci (R) to Washington D.C. by defeating Congresswoman Betty Sutton (D) 52.33% to 47.77%.  In the 6th Congressional District, Congressman Bill Johnson (R) successfully defended his seat in a rematch of his 2010 contest against former Congressman Charlie Wilson (D) with a vote of 53.37% to 46.63%.

At the state level, the current 129th General Assembly (2011-2012) has 23 Republican and 10 Democrat members in the Senate, while the Ohio House of Representatives is controlled by the GOP with a 59-40 seat advantage. In the battle to control the 130th General Assembly (2013-2014), Republicans will continue to hold the gavel in both chambers.  The partisan split in the Ohio Senate will remain the same.  Due to three very close contests for seats in the Ohio House of Representatives, the Republican majority could be as high as 60-39 or as low as 58-41.  However, until provisional ballots are tallied (and the possibility of election recounts) the outcome of these races are yet to be determined.

In the important races for the Ohio Supreme Court, there was one blowout and two upsets. Justice Terrence O'Donnell (R) strolled to reelection winning over 69% of the vote. Justice Robert Cupp (R) was upset by challenger Judge William O'Neill (D), 52.32% to 47.68%, and Justice Yvette McGee Brown (D) was easily and surprisingly defeated by Judge Sharon Kennedy (R) by a margin of 57.27% to 42.73%. Governor Kasich will make an appointment to the high court when Justice Evelyn Stratton retires in December.

Legislative Update

  

Lame Duck Agenda Forecast   

 

With the elections now past, the Ohio General Assembly returns to a flurry of activity during the final months of the year to wrap up last minute legislation before the start of Ohio Capitol photo next year's session.  At this point, legislative leaders have not announced clear plans on what they intend to move during lame duck, but it is anticipated that we will see many smaller pieces of legislation move through each respective chamber ranging on subjects as diverse as financial institutional tax, health care, A-F report cards for school districts, Internet cafes, E-911 fees, metal salvage and puppy mills.  It is possible we may see ethics and public records legislation surface, as well as a few proposed changes in Ohio's voting laws. One item unlikely to pass during lame duck is the controversial oil and gas severance tax proposal that Governor John Kasich unveiled earlier this year.  However, if the measure fails it will likely re-emerge during next General Assembly as part of the Administration's more comprehensive tax reform measure.  

 

For more information on the lame duck session, or to begin preparing for the busy 2013 legislative agenda, please feel free to contact Zach Holzapfel or Tony Brigano.

 

Ohio Economic Development

 

Ohio Third Frontier - Progress? 

 

The Ohio Third Frontier Commission (OTFC) met last month to approve several funding recommendations and consider how to divvy up the $236 million of Third Frontier funds available in 2013.  

Commission staff presented a 2013 Program Plan that includes extending several existing programs and introduced new ones. The OTFC voted to approve the direction of the OTF with tag recommended Program Plan but it did not approve the budget nor the programs. Given that the Ohio Third Frontier has switched to a calendar year from a fiscal year, the Commission still has a couple of months before the new funding cycle begins.  

Highlights of the proposed 2013 Program Plan include:
  • Keeping many programs from past years, including the Innovation Platform Program, the Pre-Seed Fund, the Internship program, the Industrial R&D Center program and the Tech Validation and Start-Up Funds.  Look for RFPs for all of these programs to be released in 2013.  
  • The introduction of several new ways of utilizing OTF money including the Commercial Acceleration Loan Fund, an idea from last year that never launched, and $50 million for approximately two large investments in Technology Commercialization Centers.
  • Approximately $57 million that was left un-programmed. This money may be held back and kept available for un-anticipated funding requests that come to the Commission.

Click here for the complete program plan as it was proposed at the October meeting.

We anticipate that an RFP for the Innovation Platform Program will be released within the next several weeks.   

Hicks Partners has helped clients secure millions of dollars of Third Frontier funding. To see how we can help you, please contact Emily Turner.
 
 
Choose Ohio

Governor John Kasich has launched a new effort to speed the growth of healthcare and life science companies in Ohio.  The Medical Corridor Initiative, also known as "Choose Ohio", is designed to help connect promising medical products and service companies to decision makers at Ohio's leading medical centers.  Participating institutions include:

* Cleveland Clinic

* Akron General

* The Ohio State University Wexner Medical Center

* UC Health System

* University Hospitals

* Nationwide Children's

* Battelle

* OhioHealth

* Summa Health System

* Akron Children's 









Under the Choose Ohio program, interested Ohio-based life science companies must submit an application by December 11, 2012.  

Eligible applicants must be Ohio-based life science companies with market-ready (completed) or in-market products. If a company is chosen to participate in the Choose Ohio program, it will be able to present its product or service via web-based videoconference to the above mentioned medical centers.  

More information about Choose Ohio and the application can be found here: http://www.bioenterprise.com/contact/choose_ohio  
Client Spotlight

 

  A new SPARC for Cooper Stadium

 

SPARC

 

The Sports Pavilion's Automotive Research Complex (SPARC) will be a game changer for Cooper Stadium.  The stadium has been vacant since the Columbus Clippers moved to their new location in 2009.  Columbus-based Arshot Investment Corp. is leading the massive $43 million stadium re-development project.  SPARC's central attraction is a half-mile oval track with 8.5 acres of paved infield surrounded by 8,000 grandstand seats and twelve corporate luxury boxes.

Highlighting the project will be a four story automotive research and technology building that will include lease space to accommodate automotive research & designers, flex-office space as well as classrooms and an indoor exhibition area.  The 50,000 square foot research building will include an attached helix to allow for convenient access to the racetrack.  Construction has already begun and the facility will open in spring of 2014.  Automotive engineers, research companies, and third party automotive component evaluators will find the proximity to the track and secure on-site garages an appealing feature.  

This development will clearly be a home-run. At the ground breaking in October,  Dublin-based Midwestern Auto Group ("MAG") and Clean Fuels Ohio were announced as the first two tenants at the park.  While there is still space available, more tenant announcements are scheduled for early next year.  Whether you want to test drive a high performance Italian sports car or transform a fleet of drivers to CNG trucks or design a more aerodynamic side mirror, SPARC is the place. 

Fueled by its innovation center, SPARC will provide Ohio with a unique sports and entertainment spot.  Switching gears from automotive activity, the venue's versatile design will allow for extreme sports like motocross and BMX as well as concerts, shows and car club events.  A hotel and conference center will finish off the site development.  The project is expected to create more than 300 jobs and help transform an entire neighborhood west of Downtown Columbus.

For more information about SPARC, contact Keith Conroy or check out http://www.sparcohio.com/

See you at the races!

Join Our Mailing List 

 

Hicks Partners, LLC             www.hickspartners.com                 800-556-0227