Between 2006 and 2008, about $74.2 million of venture capital investments went toward clean technology businesses in Ohio. If the federal government adopts proposed renewable energy requirement, Ohio stands to attract $3.6 billion of new investment in manufacturing components to develop renewable power projects.
Clean technology is the fastest growing sector for venture capital, having increased from 5 percent of total venture capital investment in 2006 to 9 percent in 2007 – and 15 percent in 2008.
The National Venture Capital Association estimates that each $100 million in venture capital funding helps create 2,700 jobs, $500 million in annual revenues for two decades and many indirect jobs.
Clear and sustained Federal policy on renewable energy and clean technology would boost investor confidence and drive more investor dollars into industries in which Ohio excels.