(fewer than 100 employees)
Collaboration of the City of Oberlin, Team Lorain County, BioEnterprise, Lorain County Community College, and Lorain County Growth Partnership for the Retention of Synapse Biomedical. Synapse Biomedical had sought venture capital during the evolution of its NeuRx Diaphragm Pacing System, which, in 2003, helped paralyzed actor Christopher Reeve breathe without the assistance of a ventilator. When this Oberlin company again required funding to support its expansion and manufacturing growth, out-of-state investors encouraged the firm to relocate. That’s when the winning team of BioEnterprice, the City of Oberlin, Lorain County Community College (LCCC), Lorain County Growth Partnership and Team Lorain County stepped in to keep Synapse in Northeast Ohio. They secured a Job Creation Tax Credit, as well as federal support, and tapped the resources of LCCC for its test labs, recruitment teams and training resources. As a result, Synapse is staying in Oberlin and plans to grow its employee base from 15 to 75 over the next three years, bringing $5.1 million in new payroll to the region.