Experts estimate that the global flexible electronics market will grow to $250 billion by 2025. Northeast Ohio wants to ride that wave of innovation and market growth, and a recently unveiled plan for the region to become a global epicenter for the flexible electronics industry will play a part in realizing that goal.

Developed by NorTech, a technology-based economic development organization, The Northeast Ohio Flexible Electronics Road Map outlines strategies and initiatives to develop low-cost manufacturing of electronic devices printed on flexible materials with multiple global market applications. According to the plan, five key initiatives must be met in order for this mission to be successful:

* Identifying and pursuing market opportunities
* Increasing public funding and private investment
* Strengthening cluster alignment, communication and partnering
* Improving visibility and recognition
* Monitoring and reporting cluster growth and outcomes

By establishing a global epicenter for the flexible electronics industry in Northeast Ohio, the region could gain 1,500 jobs, $75 million in payroll and $100 million in capital by 2017.

"Further developing this industry will help us diversify our regional economy and ultimately create jobs, attract capital and have a positive economic impact in Northeast Ohio," says Rebecca O. Bagley, NorTech president and CEO. NorTech partnered with 23 technology and industry experts in the region to develop the Northeast Ohio Flexible Electronics Road Map. In September, NorTech was awarded a $500,000 federal grant to help small businesses that want to be involved in the expansion of the flexible electronics industry in Northeast Ohio.

Read the entire pdf Road Map here.

SOURCE: NorTech
WRITER: Diane DiPiero