*Update 9/30/2022: Congress reauthorizes the SBIR/STTR Programs
BioOhio, the state’s largest and longest-standing life sciences trade organization, this week called on members of Congress to reauthorize crucial funding for small businesses and innovation.
The funding comes through the federal Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, key federal set asides that fuel research and support the small business community.
“Since its inception in 1982, the SBIR/STTR programs have helped Ohio small businesses, especially those in the life sciences,” said Eddie Pauline, President and CEO of BioOhio. “These businesses improve health, develop new agricultural techniques, innovate for our national defense, explore space and more.”
BioOhio submitted a letter this week to congressional representatives and senators in support of the SBIR/STTR programs’ reauthorization. Nearly 70 Ohio life science stakeholders — business leaders and others who are invested in Ohio’s growing life sciences ecosystem — joined as co-signers to BioOhio’s advocacy efforts.
The programs since inception have provided nearly 5,700 awards generating more than $2 billion in funding for research programs in Ohio, providing important seed funding to innovation in the life sciences and other areas. Since 2000, more than $532 million — 26% of the state’s total funding — has been awarded to life science-related innovation projects in Ohio. The programs were last reauthorized in 2016.
The programs, which are largely funded through allocations from the Department of Defense, are set to expire Sept. 30. Reauthorization has been delayed as Senator Rand Paul (Republican-KY), Ranking Member of the Senate Small Business Committee, has expressed concerns about using defense funding for small business support.
The life sciences are among the fastest-growing sectors of Ohio’s economy. Today, 4,300 life sciences companies employ 83,700 individuals in the state. That employment has increased 15% in the last five years, with an average wage of $84,600. In the past two years alone, there have been $1.6 billion in new facilities and expansions announced by life science companies in Ohio.
“This funding moves the discovery process forward and allows small businesses to begin development on the kinds of health innovations that change people’s lives,” Pauline said. “This is a crucial funding source for our industry, and we strongly support its reauthorization.”
Click here to download (pdf) the full letter to Ohio’s Congressional Delegation.