An Initiative of the City of Akron Download the Akron Advantage PDF

Akron, Ohio, USA

LocationGetthefacts

  • Centrally positioned between New York City and Chicago
  • Part of Northeast Ohio (NEO) regional economy
  • Located approximately 40 miles south of Cleveland in Summit County

 

Population

  • Fifth largest city in Ohio
  • 10 million people live within a 150-mile radius of Akron
  • 50% of American population lives within a 500-mile radius of Akron

                                               

NEO Bioscience Market

  • 600+ biomedical businessess
  • Attracted $975 million+ in new investment since 2003
  • Industry has grown by 34% in the same period
  • Ranked #5 in world for neurotech healthcare
  • Ranked #6 for neurodevice companies
  • Since 2002, $369 million invested in medical imaging companies and infrastructure

 

Akron Marketplace

  • Geographically centered within NEO Market
  • Represents the perfect cross section of U.S. population
  • Home to 50-60 foreign-owned companies

 

Labor Force

  • 35,000 in Akron area employed by approx. 400 polymer-related companies
  • NEO employs more than 230,000 health care and bioscience workers
  • Experienced 86% increase in health care and bioscience workers (2004-2008)
  • In 2008, 1,650 graduated from NEO programs relevant to cardiovascular medical device manufacturing

 

Funding

  • 45 Ohio-based healthcare investors (venture capital & growth equity funds, as well as angel funds & networks)
  • $1 billion in venture funding
  • $2.3 billion Ohio Investment Program
  • 450 tech transfer licensing deals

 

Logistics

  • Air: Akron/Canton Regional Airport, Cleveland-Hopkins International Airport, and the Akron Fulton International Airport
  • Rail: CSX, Wheeling & Lake Erie, Norfolk & Southern, and the Akron Barberton Belt Line
  • Highway: 16 long-distance trucking companies

 

Quality of Life

  • 6,600 acres of metropolitan parks (25-mile bike and hike trail)
  • Ohio Ballet, The Akron Symphony Orchestra and E.J. Thomas Performing Arts Hall
  • Renowned Akron Art Museum with architecture by internationally known COOP HIMMELB(L)AU
  • All-American Soap Box Derby, Eastern League Akron RubberDucks (AA Cleveland Indians), Roadrunner Akron Marathon

 

Recognition

  • Designated Ohio Hub of Innovation and Opportunity, 2010
  • Named All-America City: 2008, 1995, 1981
  • Ranked 13 of top 50 U.S. cities in attraction of European investment,Expansion Management Magazine, June 2002
  • Awarded first place in the City Livability Award competition by the U.S. Conference of Mayors, 1999

                       

History

  • Founded by Simon Perkins, 1825
  • Developed into a canal town on Ohio and Erie Canal
  • Origin of Goodyear Tire, Quaker Oats

 

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