September 22: Congresswoman Kaptur Announces LCCC, Partners Win National Competition for Jobs, Innovation

LCCC Leadership in Key Job Growth Clusters Results in 'A Remarkable Victory' for Lorain County, Northeast Ohio

Congresswoman Marcy Kaptur today announced that a joint economic development initiative spearheaded by Lorain County Community College has won $2 million in federal support in a nationwide competition.

Congresswoman Kaptur said the Northeast Ohio Speed-to-Market Accelerator joins 19 other projects in the nation to receive funding through the Jobs and Innovation Accelerator Challenge, a multi-agency competition conducted by the Obama Administration. The winning projects will create an estimated 5,000 jobs and more than 280 businesses nationally.

Congresswoman Kaptur made the announcement this afternoon at Lorain County Community College, which will utilize $1 million in support from the Employment and Training Administration (ETA), the U.S. Department of Labor agency that provides job training and employment services.

"Under President Roy Church's leadership, Lorain County Community College has scored a remarkable victory," Kaptur said. "I am so proud of his team to win this national competition, but the real winners are the people of Lorain County and Northeast Ohio.

"The Speed-to-Market Accelerator will help bring our region's expertise in high technology to the market, generating sales and creating jobs—and attracting students to one of America's greatest community colleges.

"This is how we win the future, this is how we regain our edge, and this is how make our region competitive globally."

With the ETA funding, LCCC will lead an extensive network of Northeast Ohio universities in early assessment of cluster workforce needs in time to develop and implement education and training programs for the jobs of the future.

Meanwhile, with Economic Development Administration (EDA) funding of $912,945, the Manufacturing Advocacy Growth Network (MAGNET) will team with the Northeast Ohio Technology Coalition and JumpStart to conduct a series of workshops to educate cluster members on speed-to-market and also provide one-on-one assistance to help them meet challenges such as identifying and penetrating key markets, engaging with commercialization partners and anchoring customers, increasing export revenue, and accessing capital.

The third component of the winning grant will provide $150,000 to JumpStart through the U.S. Small Business Administration (SBA) to identify and recruit eligible businesses to join the Speed-to-Market Accelerator. It will also help minority businesses make initial sales to established companies; identify, pursue and secure new capital so businesses can grow; and, provide management and technical assistance through one-on-one counseling.

About the Speed-to Market Accelerator:

The Accelerator provides a step-by-step process to accelerate the speedy to market for near-production or pilot production prototypes. The primary objective of the Accelerator is to accelerate revenue generation, which stimulates job creation. The Accelerator also will increase the global competitiveness of cluster companies, attract additional private capital, and also attract students, incumbent workers and the unemployed to STMA-sponsored educational programs that infuse both the energy and flexible electronics clusters with talent.

About the Jobs and Innovation Accelerator Challenge:

The challenge is part of the Obama Administration's Regional Innovation Cluster Initiative, an interagency effort coordinated by the White House. It leverages existing resources from 16 federal agencies and awards funding to regions that demonstrate the existence of high-growth industries that support a wide range of economic and workforce development activities.

The following federal agencies support this competition: Department of Agriculture; the Department of Commerce's EDA, International Trade Administration, Minority Business Development Agency, and National Institute of Standards and Technology Manufacturing Extension Partnership; Department of Defense; Department of Education; Department of Energy; Department of Health and Human Services; Department of Housing and Urban Development; Department of Labor; Department of Transportation; Department of Treasury; Environmental Protection Agency; National Science Foundation; and SBA.