Just this month, Ohio launched its third innovation hub in the state, investing a total of $125 million in Akron, Dayton, and Toledo.
COLUMBUS, Ohio — Mia Ong says moving from California to Texas was easy.
“Many big tech companies have started moving to other locations where they can enjoy more benefits, such as income tax exemptions and more space,” Ong said.
This story is part of 10TV’s “Boomtown” initiative, our commitment to covering every angle of central Ohio’s rapid growth. This includes highlighting success stories, highlighting growing pains, and looking for solutions to everyday life problems.
Now, three years later, Ong is the branch director of Startup Grind Austin, and says the beauty of remote work is that he can build a company that benefits his bottom line.
“It’s not strange that the workforce is completely distributed,” Ong said. “Why would you do business in a state that doesn’t offer favorable tax treatment?”
Ohio State is trying to attract talent like Ong by offering multiple incentives.
The Ohio Third Frontier Program provides financing to early-stage investment funds that support Ohio-based startups. Approximately $110 million will provide a new venture capital fund specifically for technology startups that will be matched 1:1 with private capital.
For young entrepreneurs like Rich Fortune, co-founder of a social app called Hangtight, access to investors was what drew them to Austin over other boomtowns.
“We can get the first cluster of users. We have great angel investors. We have great venture capital firms here,” Fortune said.
Fortune is exactly the technology collective that Ohio State is building over time.
Just this month, Ohio launched its third innovation hub in the state, investing a total of $125 million in Akron, Dayton, and Toledo.
Ong said the infusion of capital and support helps, but creating an Austin-like atmosphere is what will make her business successful.
“For me, being new, having a community of very intentional people, finding my tribe amidst all this noise, helped me settle in and fall in love with this city.” I would say it was,” Ong said.
