Page 229 - 1-Entrepreneurship and Local Economic Development by Norman Walzer (z-lib.org)

218 Don Macke

3. Northern Initiatives of Michigan
4. Sirolli’s Enterprise Facilitation
5. Economic Gardening in Colorado

Kentucky Highlands Investment Corporation
Like many of the other long-established programs, Kentucky Highlands
was created when the federal government was investing heavily in rural
America to address issues of chronic poverty and lack of economic oppor-
tunity. Located in a multicounty region of Appalachian Kentucky, Kentucky
Highlands began as a capital access strategy and grew into a comprehensive
entrepreneurial development system. Over time, it was discovered that cre-
ating access to capital was not enough; intensive one-on-one work with en-
trepreneurs was essential.
Kentucky Highlands also assumed the role of a regional development
corporation, addressing the issues of community culture and attitude to-
ward business development. It helped to create other initiatives (e.g., mi-
croenterprise programs) that collectively created a continuum of develop-
ment support for start-ups to high-growth entrepreneurs (Markley and
Barkley 2003).
The Center for Rural Entrepreneurship’s case study of Kentucky High-
lands documents the collection of subsidiaries, programs, and strategies
that have been created over time. The organizational chart with its many re-
lated elements looks complicated and reflects significant evolutionary so-
phistication. Kentucky Highlands is resourceful in connecting with avail-
able private and public resources and programs that can address specific
needs of the entrepreneurs within their portfolio. The staff of Kentucky
Highlands not only know how to “do” business deals, but they are able to
(and do) take over and manage a company in which they are investing. The
challenge for Kentucky Highlands in this time of declining state and federal
economic development program resources will be to find new sources of
funding to sustain program needs.

Coastal Enterprises of Maine
Coastal Enterprises Inc. (CEI) of Downeast Maine recently celebrated
twenty-five years of success. It started as an antipoverty development agency
and continues to support a broad mission, ranging from childcare facilities
to commercial development. CEI, matching the economy and society of ru-
ral Maine, also undertook cutting-edge work in agriculture, fisheries,
forestry, and other sectors central to the Maine economy.
CEI is also a leader in microenterprise development crafting, some of
America’s cutting-edge microcapital programs, including training resources.