WV growth fund introduced at Appalachian Regional Commission mee - WTRF 7 News Sports Weather - Wheeling Steubenville

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>>

  • U.S. Rep. Capito speaks at EPA hearing in Washington, DC

    U.S. Rep. Capito speaks at EPA hearing in Washington, DC

    Tuesday, July 29 2014 12:26 PM EDT2014-07-29 16:26:16 GMT
    U.S. Rep. Shelley Moore Capito,R-W.Va., won the Republican nomination for the U.S. Senate seat in the 2014 Primary Election. U.S. Rep. Shelley Moore Capito,R-W.Va., won the Republican nomination for the U.S. Senate seat in the 2014 Primary Election.
    U.S. Rep. Shelley Moore Capito, R-W.Va., testified,  along with several other lawmakers and representation from the Sierra Club, a national activism group.
    U.S. Rep. Shelley Moore Capito, R-W.Va., testified,  along with several other lawmakers and representation from the Sierra Club, a national activism group.
  • Charleston, WV group plans to deliver clean water to Detroit

    Charleston, WV group plans to deliver clean water to Detroit

    Tuesday, July 29 2014 12:14 PM EDT2014-07-29 16:14:24 GMT
    The Keeper of the Mountains Foundation will make a trip from Charleston to Detroit to deliver over 1,000 gallons of water by July 30.
    The Keeper of the Mountains Foundation will make a trip from Charleston to Detroit to deliver over 1,000 gallons of water by July 30.
  • West Virginia union PAC gets $250k check

    West Virginia union PAC gets $250k check

    Tuesday, July 29 2014 9:43 AM EDT2014-07-29 13:43:38 GMT
    The super PAC named Honest West Virginians received the check from the West Virginia State Building & Construction Trades Council in late June.
    The super PAC named Honest West Virginians received the check from the West Virginia State Building & Construction Trades Council in late June.

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.