Venture Capital Targets Appalachia

Contact: Duane J. DeBruyne, ARC, 202-884-7663
Mike Kiernan, ARC, 202-884-7771
Leesa Brown, Ohio University, 740-593-1043
Jess Goode, U.S. Rep. Strickland, 202-225-5705

WASHINGTON, DC (April 14, 2000) -- Appalachian Regional Commission (ARC) Federal Co-Chairman Jesse L. White, Jr., and U.S. Rep. Ted Strickland (OH, 6th District) will talk Tuesday, April 18, with several small business owners, inventors, and bankers who think southeastern Ohio is ripe for investment.

From 10:00 a.m. to 11:00 a.m., at the Appalachian Center for Economic Networks (ACEnet), 94 Columbus Road, Athens, White and Strickland will meet with owners of small southeastern Ohio businesses who have participated in ARC's multi-year Entrepreneurship Initiative. The entrepreneurs include Susan Baker, owner of Ohio River Bears, who recently showed her products at the Ideal Home Show in London, England, and Dyami Crasko, an Athens High School junior who is actively pursuing a number of Internet-based business ventures.

From 12:30 p.m. to 2:00 p.m., at The Ridges Auditorium at Ohio University, White and Strickland will meet with bankers and university officials to learn about the Appalachian Ohio Development Fund. The venture capital fund, created by Ohio University alumnus David Wilhelm, is the first to team up with a public university and target promising businesses located in Appalachia's economically distressed counties. Representatives of several Ohio banks will be on hand to announce for the first time their participation in this unique venture capital fund.

Ohio University Vice President for Finance and Treasurer Dick Siemer, David Wilhelm of Wilhelm and Conlon Public Strategies, representatives of the Federal Reserve Bank of Cleveland and the Federal Home Loan Bank Board of Cincinnati will also join the discussion.

WHEN/WHERE: Tuesday, April 18, 2000

10:00 a.m. to 11:00 a.m.

ACEnet, The Marketplace Shop, 94 N. Columbus Road, Athens, Ohio.

(Call 740-592-3854 for directions.)

12:30 p.m. to 2:00 p.m.

The Ridge's Auditorium, Ohio University, Athens, Ohio.

(Call 740-593-1043 for directions.)