Piper’s Platform for Change

Growing our Economy Starts at Home

Current economic development efforts are focused on building business and industrial parks and offering tax credits, infrastructure and other incentives to lure businesses to relocate here. This has caused much controversy and leaves us to bear the burden of vacant and blighted industrial parks.

Let’s recruit and retain the brightest and best coming out of the University of Tennessee by investing in entrepreneurial start-ups and growing our local businesses in neighborhoods like Inskip and Fountain City.

Here’s what I propose: Take a portion of the funding that is being given to The Development Corporation to build business parks and create a two-pronged investment fund to invest capital in local businesses.

Fund A would be an “angel” fund that would invest in local start-up businesses that are too early-stage to obtain funding from banks or venture capital firms.

Fund B would be funds that would be available for investing in established local firms wanting to grow their business, with the prime objective being to create new jobs.

A special oversight committee comprised of experienced entrepreneurs, average citizens and government representatives would manage both funds. Companies seeking funding would present their business plans to the committee and be evaluated accordingly.