Small Towns, Big Opportunities(cover) Behind the Success State Partnerships Heighten Appeal Luck of the Draw Request Information
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Behind the Success
Part of the reason behind these three states' business location success is focus on business expansion at the state level. Some offer tax incentives for locating in rural parts of the state, others provide funding for developing smaller communities, and some offer both.
Kuss Corp. decided to remain in Findlay, Ohio, after it had outgrown its facility. The company is developing a new manufacturing plant and adding 125 jobs.
Last year, the state of North Carolina created a US$100 million Rural Economic Opportunity Fund -- the largest rural investment fund in the nation. This fund will provide money to small, rural companies in North Carolina whose expansion needs do not fit the profile for traditional bank financing. Ohio, on the other hand, doubled the funding for economic development in its Appalachia region in the southeastern corner of the state. And according to Gov. Bob Taft, that same commitment will be made again this year. "We'll work to attract more federal funds to distressed counties," said Taft in his State of the State address. "And we'll fund the Appalachian New Economy Partnership to increase information technology skills and to provide assistance for start-up companies in the region."
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