WV growth fund introduced at Appalachian Regional Commission mee - Beckley, Bluefield & Lewisburg News, Weather, Sports

WV growth fund introduced at Appalachian Regional Commission meeting

Posted: Updated:
Gov. Earl Ray Tomblin is joined with Tom Heywood (left) and Earl F. Gohl (right) and Keith Burdette (far right) at the ARC meeting. Gov. Earl Ray Tomblin is joined with Tom Heywood (left) and Earl F. Gohl (right) and Keith Burdette (far right) at the ARC meeting.
  • GovernmentGovernmentMore>>

  • City of Bridgeport to participate in Internet pilot program

    City of Bridgeport to participate in Internet pilot program

    Thursday, August 21 2014 1:42 PM EDT2014-08-21 17:42:43 GMT
    House Speaker Tim Miley, D-Harrison, applauded bold steps by the city of Bridgeport to become in providing residents with a huge boost in Internet speed. Miley, in a press release, also urged other West Virginia communities to consider a similar approach.
    House Speaker Tim Miley, D-Harrison, applauded bold steps by the city of Bridgeport to become in providing residents with a huge boost in Internet speed. Miley, in a press release, also urged other West Virginia communities to consider a similar approach.
  • WV Sen. Manchin applauds DEA decision to reschedule hyrdocodone, related drugs

    WV Sen. Manchin applauds DEA decision to reschedule hyrdocodone, related drugs

    Thursday, August 21 2014 11:56 AM EDT2014-08-21 15:56:04 GMT
    The U.S. Drug Enforcement Administration moved Aug. 21 to list hydrocodone-combination products as Schedule II drugs under the Controlled Substance Act. U.S. Sen. Joe Manchin, D-W.Va., applauded the DEA after the agency officially announced the final rule to reschedule the drugs, which are found in highly addictive painkillers like Vicodin and Lortab, from a Schedule III to a Schedule II controlled substance.
    The U.S. Drug Enforcement Administration moved Aug. 21 to list hydrocodone-combination products as Schedule II drugs under the Controlled Substance Act. U.S. Sen. Joe Manchin, D-W.Va., applauded the DEA after the agency officially announced the final rule to reschedule the drugs, which are found in highly addictive painkillers like Vicodin and Lortab, from a Schedule III to a Schedule II controlled substance.
  • National Parks Service bans drones over Appalachian Trail

    National Parks Service bans drones over Appalachian Trail

    Thursday, August 21 2014 11:49 AM EDT2014-08-21 15:49:23 GMT
    National Park Service photoNational Park Service photo
    The National Park Service has banned drones from flying over the Appalachian Trail.
    The National Park Service has banned drones from flying over the Appalachian Trail.

On Nov. 6, West Virginia Gov. Earl Ray Tomblin joined Appalachian Regional Commission Federal Co-Chair Earl F. Gohl to announce a newly organized West Virginia angel investment fund which will pool the capital resources and the business connections of accredited investors in and around the state. 

The West Virginia Growth Fund is officially open for business.

The news conference kicked off a two-day conference in Charleston titled: "Toward Prosperity: Entrepreneurship Transforming Appalachia's Economy."

Tomblin and Gohl were joined by secretary of the West Virginia Department of Commerce Keith Burdette and Tom Heywood, vice president of Discover the Real West Virginia Foundation and managing partner of Bowles Rice LLC.

Tomblin said "West Virginia entrepreneurs will be able to take their ideas and make them grow. It's West Virginians helping West Virginians. It's a whole new concept for us in West Virginia."

Burdette said it will be an important tool in the state's business development efforts.

"The West Virginia Growth Fund will invest in entrepreneurs in West Virginia," Heywood added. "We'll see a lot of activity in this region that is unprecedented. I'm excited.

"This group has a lot of talent, access to talent and access to capital. We must take advantage of the opportunities before us.

"We are already seeing opportunities coming down the pipeline."

Small businesses make up 90 percent of the businesses in West Virginia, Tomblin said.

"This opens up a whole new array of possibilities, so we welcome it to West Virginia," he added.  

For details, visit www.wvgrowth.com.