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P.O. Box 5190
Kent, OH 44242
Phone: 330-672-4080
or 800-793-0912
International: 001-330-672-4080
Email: mmorgan@neotec.org

Northeast Ohio is Well Positioned for International Business Opportunities: Reported in University of Akron Whitepaper Commissioned by NEOTEC

CONTACT: Marilyn Morgan, Director of Marketing
(330) 672-4080 / (800) 793-0912

KENT, OHIO, January 21, 2009 – An independent research project by the University of Akron has concluded that opportunities for growth and success abound for international companies considering doing business in Northeast Ohio. The whitepaper, commissioned by the Northeast Ohio Trade & Economic Consortium (NEOTEC), provides an optimistic report that Northeast Ohio is well positioned to profitably participate in the global business arena, despite the current economic downtown facing the U.S. and the world. The whitepaper was officially presented to the NEOTEC Board of Trustees at their quarterly meeting on January 21.

“This report confirms that we have much to be optimistic about in Northeast Ohio, and verifies the importance of NEOTEC’s objective to enhance the region’s global competitiveness,” said Ron DeBarr, president and CEO of NEOTEC. “The title of the whitepaper, Is the Glass Half Empty or Half Full?, is confidently answered ‘half full,’” said DeBarr.

DeBarr said that NEOTEC commissioned the research project in order to qualitatively define what Northeast Ohio has to offer the international business community in hopes of marketing the information to attract capital investment and jobs to the region. Based on the whitepaper’s positive conclusion, it will now be utilized as an economic development tool by NEOTEC and other marketing and development organizations in Northeast Ohio, DeBarr said. “We are confident that this whitepaper will illuminate the many advantages of doing business on an international level in Northeast Ohio, and will encourage foreign direct investment as well as domestic expansion projects into our region,” he said.

The whitepaper research was spearheaded by Bill Hauser, Ph.D., with the Department of Marketing & International Business at the University of Akron’s College of Business Administration, and AnneMarie Scarisbrick-Hauser, Ph.D., with the university’s Department of Public Administration & Urban Affairs and Fellow with the Ray C. Bliss Institute for Applied Politics. Commenting on the whitepaper, Hauser said, “After reading this whitepaper, individuals and businesses (be they international or domestic) should view the Northeast Ohio region very positively. Historically, Northeast Ohio has been a center of entrepreneurship and optimism. These characteristics are woven into the social fabric of the region’s individuals, families and businesses. This ingrained sense of innovation and optimism will help the region to weather current challenges and re-invent itself to create a successful future.”

Scarisbrick-Hauser added, “The key finding from our whitepaper is that while economic conditions in Northeast Ohio are currently tumultuous, the resources, innovation, and leadership is there for the region to emerge stronger and to enhance its position in the global marketplace. International businesses should view the region as fertile and ready for growth. Concurrently, regional leaders must work as one to create positive, innovative strategies to spur this growth.”

Copies of the whitepaper are available by contacting NEOTEC at 800-793-0912.

NEOTEC is a regional economic development partnership of 10 Northeast Ohio counties. NEOTEC administers several programs to promote the region domestically and internationally: Foreign-Trade Zone 181, which provides cost savings to assist companies engaged in international commerce; the International Trade Assistance Center, which promotes growth through exports by providing export counseling and assistance to area businesses; and the Northeast Ohio Logistics Network to help improve regional market access.

For more information, visit www.neotec.org or contact Ron DeBarr, president and CEO of NEOTEC, at 330-672-4080 or via e-mail at rdebarr@neotec.org.