FOR IMMEDIATE RELEASE DATE: JUNE 15, 2023
Dayton, Ohio – Earlier today, the Ohio Auditor of State’s office released the report of its special audit of Parallax Advanced Research, formally Wright State Applied Research Corporation (WSARC). The special audit contained no finding of recovery and allows Parallax to move forward with a complete rebrand of this world class community, state, and national asset.
Parallax Advanced Research is a 501(c)(3) nonprofit research institute that meets global challenges by accelerating innovation and developing technology and solutions through strategic partnerships with government, industry, and academia across Ohio and the Nation. Through these partnerships, Parallax develops groundbreaking ideas and speeds them to market.
Parallax has been leading the statewide Ohio Federal Research Network over the past six years and, as a result, 35 academia and industry teams have brought more than $350 million in research funding to Ohio across multiple federal agencies. In addition, Parallax has grown from 70 employees in 2020 to over 170 employees nationwide, including those from its affiliate: the Ohio Aerospace Institute (OAI).
The special audit’s review includes testing over the WSARC, now Parallax Advanced Research as of October 24, 2020, related to the Defense/Aerospace Graduate Studies Institute and Defense/Aerospace Workforce Development Initiative (i.e., workforce development funding) for state fiscal years (SFY) 2012 through 2017, under the authority of Ohio Rev. Code §117.11.
The Auditor of State found WSARC’s (now Parallax) use of the workforce development funding to be in compliance with the Ohio Constitution and related Ohio workforce development house bills.
Parallax President and CEO Dennis Andersh said, “This is a great day for Parallax Advanced Research, for the State of Ohio and for the dozens of partners across academia, industry, and the military with which our team works with and supports every day. As Ohio’s only independent and non-profit research institute, we have a special responsibility to be as transparent and accountable as possible. This audit, in partnership with the outstanding professionals in the Auditor of State’s office, enables Parallax to expand on its research and development efforts across Ohio and the Nation.”
“I want our innovation partners and members of our extended community to know that Parallax remains steadfast in our mission to strengthen our national defense and, also, bring opportunities for innovation and growth to support the businesses, communities, and academic institutions of Ohio,” said Andersh.
Andersh added that he especially appreciates the thoroughness of the Auditor of State in conducting this special audit. Today’s audit report serves as the final step in Parallax’s efforts to implement best practices to correct all past issues, real or perceived.
Lt Gen (Ret) CD Moore, Chair of the Parallax Board of Trustees, said, “Since Dennis Andersh took over as CEO in 2015, the Parallax team has worked tirelessly to create an atmosphere of both compliance and excellence. As a decade long partner of Parallax and its world class scientists, I have long believed in the work they support for Ohio and the Nation. With this audit concluded and report published, our team and clients can continue to strive toward new frontiers.”
The report of the auditor’s findings and conclusions can be found here
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About Parallax Advanced Research
Parallax is a 501(c)(3) nonprofit that tackles global challenges by accelerating innovation and developing technology and solutions through strategic partnerships with government, industry, and academia across Ohio and the Nation. Together with academia, Parallax accelerates innovation that leads to breakthroughs. Together with the government, Parallax tackles critical global challenges and delivers new solutions. Together with the industry, Parallax develops groundbreaking ideas and speeds them to market. Parallax now has offices in Cleveland, Ohio; Beavercreek, Ohio; and Arlington, Virginia.