Ohio Business Development Grants Go to Political Operatives

[OzarkDem]

with most of the money invested in business development in other states.

Pardon me, but this is nothing more than political payola. Why do Ohio taxpayers need to be spending their money to promote business development in W. VA, Kentucky and Maryland?

And why is George Voinovich partnering with the former head of the DNC, David Wilhelm, in this boondoggle.

Here's hoping Ted Strickland puts a stop to this theft of tax dollars from Ohio.

http://www.athensnews.com/issue/article.php3?story_id=26685

The Athens-based investment firm Adena Ventures has already invested some $13 million in 10 established companies from Ohio and nearby states. Now, a state grant of $3.5 million will allow Adena to expand its partnership with Ohio University to invest in start-up companies as well.

...

The opportunity comes in the form of a $3.5 million award to the Voinovich Center and Adena Ventures to invest in new technology businesses in 19 southeast Ohio counties.

The money, which comes from the Ohio Department of Development's Third Frontier Entrepreneurial Signature Program, will benefit an existing partnership between Adena and the Voinovich Center, which have been working together for five years to put money into companies in Ohio, West Virginia, Kentucky and Maryland that appear ready for major growth spurts."

http://www.adenaventures.com/leadership/wilhelm.aspx

[NoBushSpokenHere]

1. Hmmmmmmmmm

I know some business owners in that 19 county area who are struggling to operate. I wonder how much help this could be to them?

[OzarkDem]

2. Are they Ohio businesses?

My perception (not sure its correct) is that these grants aren't really going to businesses, but are instead going into "planning", etc. How long does this planning take, anyway. It appears as though they've been at this a few years already.

One of the more controversial aspects of the Third Frontier Program is that funds sometimes go to companies that aren't even in Ohio. Its really hard to justify that.