NorTech was recently named a recipient of the State Science and Technology Institute’s 2011 Excellence in Technology-Based Economic Development (TBED) Awards. Now in its fifth year, the awards program identifies national models developed by states and regions to accelerate science, technology and innovation to grow their economies and create high-paying jobs.

NorTech won the Most Promising TBED Initiative award for its cluster model, which is currently being applied to advanced energy and flexible electronics industries. The model can also be applied to other industries.

"The SSTI award validates the NorTech model as a as a best practice approach to accelerate regional industry clusters,” says Rebecca Bagley, NorTech president and CEO. We look forward to continuing to apply our cluster development model to help companies grow, create jobs and attract capital to generate positive economic impact.”

NorTech is a nonprofit tech-based economic development organization serving 21 Northeast Ohio counties. As a catalyst for growing emerging technology industries, NorTech is leading efforts to develop regional innovation clusters that create jobs, attract capital and have a long-term, positive economic impact.

“The award brings external validation from national technology-based economic development practitioners for NorTech’s work and impact,” says Bagley. “From July 2010 to July 2011, advanced energy and flexible electronics cluster companies supported by NorTech have attracted $20.5 million in capital, created 171 jobs and generated $10.8 million in payroll.”

Source: Rebecca Bagley
Writer: Karin Connelly