The Incubators that makeup NEOinc have generated significant economic development in northeast Ohio over the last three fiscal years.  Combined, the tenants of these programs have;

• Created 754 jobs.

• Generated $304 million in revenue.

• Attracted $81 million in investment capital.

• Sustained an employee payroll of $39 million.

  Wayne Zeman, Chair of NEOinc, and Vice President of Venture Development for MAGNET, said “These results are truly impressive.  It demonstrates in real terms the strong positive impact that those collective incubation programs are having on the NE Ohio economy today.” 

Each of the incubators receives funding from Ohio’s Thomas Edison Program and that funding has been leveraged to a great degree: for every dollar of Edison funding provided to the incubators, 112 dollars in sales and investment are generated by the incubator tenants. 

“We’re thrilled with the impact our tenants have already achieved and we look forward to growing impact in the future as additional, critically needed resources flow into the NEOinc incubation programs,” said Mike LeHere, Vice Chair of NEOinc and Director of the Akron Global Business Accelerator.