Too often rural communities hitch their economic fortunes to cost-sensitive branch plants that have been recruited from the outside with low wages, tax abatements, subsidies, or other incentives.
True wealth is created within the community.
I am pleased to serve as the states' co-chairman for ARC this year, and l look forward to welcoming the Commission to Corning in September when we hold our next meeting. A 1998 study commissioned by ARC revealed significant gaps in the availability of equity capital and working capital financing in Appalachia. A panel of development finance specialists will help the Commission identify ways to expand the availability of equity and working capital financing programs in the Region. On September 15, ARC will join the Federal Deposit Insurance Corporation, in Chattanooga, Tennessee, at a forum designed to bring residents of rural communities and banking officials together to explore opportunities for increased support of small businesses. Entrepreneurial Education and Training.