According to Michael Goldberg, founder and managing partner of Cleveland-based Bridge Investment Fund, state incentives and a venture capital fund dedicated to investing in Israel continue to lure biotechnology companies from that nation in record numbers. In the past eight years, at least 14 Israeli technology start-ups raised funds from Ohio-based backers, and at least six of these opened offices in the state.

"While many Israelis still look to Boston or Silicon Valley for support, Ohio has done more than other states to attract Israeli start-ups," Goldberg is quoted in the Bloomberg article.

Credit goes to the Global Cardiovascular Innovation Center, which invested at least $3 million during the last eight years in five Israeli health-sciences companies, and BioEnterprise, which helps connect the Israeli companies to capital, medical expertise, and management teams in the state.

One such success: Simbionix, a maker of medical devices, transferred its headquarters from Israel to Cleveland in 2002.

Read the full report here.