- Feb 12, 2000
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http://forum.belmont.edu/cornwall/archives/009714.html
The National Dialogue on Entrepreneurship reports on the findings of a long-term study to spur entrepreneurial growth in Appalachia.
A new study sponsored by the Appalachian Regional Commission (ARC) assesses the impact of the ARC's Entrepreneurship Initiative. This effort, which operated between 1997 and 2004, was the first Federal program that explicitly sought to invest in and support local entrepreneurship development efforts. Overall, the program invested $47 million into various projects, and these investments had a positive impact in terms of creating new jobs, attracting other new investments, and stimulating new business creation.
Here are the overall findings from the study:
Jobs created and/or retained 12,178
New businesses created 1,787
Students and teachers trained 11,634
Clients served by incubators 475
Actual private $ leveraged $72,802,868
Public cost / job created or retained $579 - $3,994
Public cost / business created or expanded $2,988 - $7,818:
What a wonderful story of how entrepreneurship is helping to turn around one of the poorest regions in America. What should be the next step to help these entrepreneurs? As we know from around the world, the best policy is to cut taxes and get government out of their way. But this is not the message we are hearing from the campaign trail, is it?
Sadly, Americans have not been educated in what sustains an entrepreneurial economy. Instead, we have created almost a knee jerk reaction in this country that assumes that once someone creates success and wealth through free enterprise, it should be taxed and shared with everyone else..
The positive impact of programs like this one will soon be overwhelmed by our steady drift toward socialism in the US.
Rather than celebrate the successful entrepreneur, we envy the fruits of their efforts.
As Winston Churchill warned, "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery."

