Akron : Buzz

The Akron area is among 25 “hidden gem” markets when it comes to investing in single-family rental property.

So says a report with Summit County ranked No. 11 nationwide. The report was released Thursday by housing industry research company RealtyTrac.


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A company from the Netherlands, Quest Medical Imaging, that makes a camera system used to locate lymph nodes and make cancer tumors visible during surgery is setting up a base in downtown Akron to expand further into the U.S. market.

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Dr. Janine E. Janosky, vice president of the Austen BioInnovation Institute in Akron’s Center for Community Health Improvement, was one of eight national “Champions for Change” for prevention and public health. She was recognized during a ceremony at the White House earlier this week for her efforts to improve the health of Akron-area residents.

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Get a list of the projects approved here.

More than 500 businesses are headquartered in the 18-county region that makes up northeast Ohio, adding up to 49,000 jobs, says Tom Waltermire, CEO for Team NEO, which works with several development and chamber groups to promote and market the region.

“There’s a strong concentration of headquarters operations in our area,” notes Waltermire.

Forty-seven Akron Public School graduates will receive the University of Akron’s (UA) first Innovation Generation Scholarships this fall. UA is awarding the full-tuition scholarships to high-achieving Akron students in exchange for the district’s oldest high school building.

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Regional economic development efforts across Northeast Ohio continued to spur growth for the region’s economy in the second quarter of 2013 by attracting five organizations into the region – including Daisy Brand LLC and GE Oil and Gas, Inc. – and facilitating the expansion and/or retention of eight others, reports the Q2 2013 Regional Economic Development Report released by Team NEO.

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Governor John R. Kasich on Monday unveiled a robust plan for improving Ohio’s transportation system with a $3 billion investment in infrastructure over the next several years. Kasich’s Jobs and Transportation plan will allow the state to eliminate decades long delays on some 41 new construction projects now slated to begin construction as soon as next year in some cases.

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Venture capital investing in Ohio was up in the second quarter, even as numbers dipped nationally, according to a new report.

Nationally, $6.7 billion went to 913 deals. That’s down from $7.3 billion and 970 deals in the same quarter a year ago, according to the PwC/NVCA MoneyTree Report, which is based on data from Thomson Reuters. In Ohio, 20 deals accounted for $94 million of investment, up from 17 deals and $52 million a year earlier.

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Paul Clark, regional president for PNC Bank in Cleveland, is taking over for Timken Co. chairman Ward J. “Tim” Timken Jr. as chair of area economic development group Team NEO.

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The Ohio International Market Access Grant for Exporters (IMAGE) program is now accepting applications. All activities must be pre-approved in advance and executed no later than September 30, 2013.

IMAGE is a 50 percent reimbursement program designed to offset the costs associated with certain exporting initiatives. IMAGE is funded by the State of Ohio and the United States Small Business Administration as part of the National Export Initiative to double U.S. exports by 2015. The purpose of IMAGE is to increase exports and create jobs in Ohio by helping small businesses expand into new international markets.

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A young Hudson software company has received a $21 million investment from Summit Partners of Boston. The company, COMS Interactive, will use some of the money to add staff and tailor its software -- which is popular among nursing homes -- for other long-term care providers.

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Ohio could add as many as 67,000 new entrepreneurs as a result of the federal government subsidies made available to aspiring business owners through the Affordable Care Act, according to a new report from the Urban Institute.

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The dean and chief administrative officer of the Trumbull campus of Kent State University, Robert Sines, has been named interim dean of the university’s college of science, technology, engineering and mathematics (STEM). He will serve in that post through June 2015.

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