The History of NEOTEC

In 1995, six Northeast Ohio Counties came together, recognizing that certain economic issues can only be addressed as a region where competing interests are set aside. These counties—Columbiana, Mahoning, Portage, Stark, Summit and Trumbull—entered into a cooperative agreement pursuant to Section 307.07 of the Ohio Revised Code. A formal agreement was signed on February 28, 1996, which created the Northeast Ohio Joint Office of Economic Development (JOED) - an unprecedented public-private partnership, one that stressed cooperation over competition. The following guiding principles were established:

• One County - One Vote
• Enhance existing development efforts - do not duplicate
• Develop private sector input
• Define County interests within regional goals
• Share benfits

 To carry out the JOED’s economic development initiatives, the Northeast Ohio Trade & Economic Consortium (NEOTEC) was established. The organization was staffed by volunteers from public and private economic development organizations from the six counties.

The Akron-Canton Regional Airport Authority received a Grant of Authority in 1991 from the Foreign-Trade Zones Board in Washington, D.C., to establish Foreign-Trade Zone 181 at a 157-acre site on airport property. In 1997, the airport assigned the FTZ 181 Grant of Authority to the JOED dba NEOTEC.

In 2000, NEOTEC was restructured as a private, nonprofit 501(c)3 corporation, and Kent State University stepped up as a partner in NEOTEC’s regional economic development efforts. The university offered office space and support services to NEOTEC, which established its current office on the Kent campus and hired its first staff member in 2001.

The JOED and NEOTEC organizations have grown dramatically since 1996 through expansion of membership and programs.

Membership Growth

• 1996: six counties form NEOTEC
• 2002: Ashtabula County joins
• 2005: Medina and Wayne counties join
• 2006: Richland County joins

Foreign-Trade Zone Growth
The Foreign-Trade Zone program in Northeast Ohio expanded from one location at the Akron-Canton Airport to 34 General Purpose and 1 Special Purpose Subzone locations throughout the 10-county NEOTEC region.

FTZ 181 is nationally recognized as a “Best Practice” in foreign-trade zone development and management.

Since 2001, FTZ 181 has been a major factor in attracting more than $300 million in capital investment and the creation/retention of more than 3,000 jobs in the region.

A Focus on Logistics Initiatives
In 2001, NEOTEC created the Northeast Ohio Logistics Network, a 280-member organization of logistics professionals. The organization was created to unite the industry as one voice on issues affecting the flow of goods in and out of the region. In 2003, NEOTEC formed a partnership with the United Shippers Alliance (USA), to provide volume discounts to companies for both domestic and international freight movements.

International Trade Assistance
In 2004, NEOTEC received approval for a continuing Small Business Administration and Ohio Department of Development grant to establish an International Trade Assistance Center (ITAC). ITAC services are available to any company that is new to export, or wants to expand export activity. These services include export basics, export readiness assessment, export compliance and procedures guidance, global logistics, documentation requirements, basic market research, and international business plan assistance.