Ohio Plastics Industry on a Roll

The Ohio plastics industry is getting a major boost with two significant developments — $42 million in funding for the Greater Akron Polymer Innovation Hub and a three-story customer service center from LG Chem.

The Ohio Innovations Hub program has granted the Polymer Industry Cluster a $31.25 million award that will be matched with $10.4 million from area partners. About $25 million of that funding will support a polymer pilot plant for advancing new materials. The rest of the funding will go toward R&D, workforce development, and supporting startups and staffing to sustain the Polymer Industry Cluster, powered by the Greater Akron Chamber.

2,400 new jobs

Over the next seven years, the Greater Akron Polymer Innovation Hub project is expected to bring 2,400 jobs, 500 STEM credentials, and $68 million in additional investment for the polymer industry.

The Akron Metropolitan Statistical Area alone boasts over 150 polymer-related manufacturing companies, with more than 500 spread across Northeast Ohio. 

“This accomplishment is a testament to the work and collaboration of the Polymer Industry Cluster over the last three years,” said Steve Millard, president and CEO of the Greater Akron Chamber. “Since the consortium was formed in 2021, we estimated this work would take a $200 million investment over the next decade. And since then, we’ve been working to pinpoint ecosystem gaps and development opportunities in the polymer industry and lay out plans to drive growth and innovation.”

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LG Chem meeting regional demand for ABS

Seoul-based LG Chem, listed as an investing partner with the Polymer Industry Cluster, plans to expand its role in the region with its new customer service center in Ravenna. The nearly 90,000-square-foot facility, stocked with mass-production extrusion and injection machinery, will work closely with LG Chem’s ABS plant in the state. According to the company, the North American market accounts for 10% of global ABS demand, and a growing need in the automotive and building materials industries requires more localized supplies of ABS.