"A concentration on tax cuts and old-line industries will not get the job done. The key is less tangible, though it fuels economic growth. It is ideas, as measured by the number of patents filed.
. . . The numbers, collected over a period of almost three years and going back 75 years, tell a persuasive story of what fuels economic growth, or allows for decline.
They show that Ohio's economic stumble matches the decline in the number of patents generated.
The Buckeye State was sixth in per-capita patents nationally in 1954, 11th in 1988, and 20th in 2001. A Harvard University study underscores those data by noting that in 2003 the national average for patent generation was 7.81 per 10,000 employees. In Ohio, the figure was 4.81.
. . . A pattern is clear. Intellectual property, the patents that are licenses for a monopoly on an idea, generate jobs, income, and growth. Patents are not about fanciful theories but practical ideas that translate into the bricks and mortar of factories and laboratories, into new jobs, and good paychecks.
Ideas fuel growth. Patents produce wealth. These are concepts that should inform the policy platforms of Ohio's gubernatorial candidates."