October 23, 2007
Alliance board notes Ky. example

By Sarah K. Winn

Charleston Gazette Staff writer

West Virginia should take notice of the help that Kentucky is offering to its entrepreneurial citizens, Charleston Area Alliance board members were told Monday.

“It’s tough to go out there and fight every day,” said Charles Counts, an Alliance board member. “Kentucky’s focus is trying to encourage start-up businesses instead of chasing rainbows.” In 2000, Kentucky passed the Kentucky Innovation Act of 2000 to help increase the number of high-technology companies started in the state. The act offers a variety of grants and other financial support to entrepreneurs through one of six regional Innovation and Commercialization centers and six Innovation centers.

Kentucky’s universities fund much of the research and development, and there is some involvement by other state agencies. However, the success of the program is in the use of chambers of commerce to operate the centers, Counts said.

Counts said that the Charleston Area Alliance is in a great position to help encourage entrepreneurship in West Virginia in a similar fashion, he said. The alliance could set up an “angel investor” network and offer funding for these businesses through grants, he said. Alliance board Chairman Jack Rossi said the trip provided “excellent ideas” to consider.

In other business, Alliance President Matt Ballard said the $340,000 loan to complete the renovation on the outside of the Alliance office will be finalized this week. The work must be completed by Sept. 30, 2008, he said. Inside, the conference room floor has been leveled and the carpet will be installed by the end of the month.

Also, the details of the plan for adding traveling options at Charleston's Yeager Airport remain a mystery. At the Alliance board’s August meeting, board member Mike Basile said the transportation committee was working with a private entrepreneur with local ties in regard to options at Yeager.

Ballard said the committee would likely have news at the December meeting.

Also dropping hints of development was Anne Cavalier, saying that the Upper Kanawha Valley Technology Community Building will be “welcoming a major East Coast headquarters for a Canadian company.”She said a ceremony is scheduled for Dec. 12, but she would not elaborate.