Research-Poster-Nick-Frederick
Transforming Ohio’s Professional Service Atmosphere in Rural Communities Through Abatement
“Rural communities in Ohio present an underutilized market to any aspiring start-up business. Often viewed as having a less desirable and slower lifestyle, most talented young professionals leave their rural hometowns with a goal of establishing a career in the larger markets of exciting metropolitan areas. This continuing phenomenon has left many rural communities under-served in key professional services.
By implementing a small-town business incubator program, local governments can offer aspiring young entrepreneurs the assistance and professional guidance needed to start a new business while also bringing those professional services to their rural communities.
The scale of this issue was identified by analyzing both aggregate information categorized by county and specific opinion data obtained from individual township officials. My research indicates that there is a strong appetite for this type of business incubator program. Further, the research shows the ability of many townships to initiate and continuously support a program of this kind.
After determining the need and economic viability of the business incubator model, I began to develop a flagship program in my small hometown of Milan. After successful collaboration among community groups and local government leaders, funding was secured to begin implementation. Public and private contributions include an offer of using a vacant building owned by the township, community foundation grants to fund its renovation, partial abatement of the cost of utilities to be provided by the village, and establishment of an advisory board comprised of local volunteer professionals.
The flagship program in Milan has received overwhelming support from local government entities and the community. Community leaders expect that young professionals will take advantage of this opportunity to establish their careers in town and in doing so provide much needed professional services to the areas they serve.
This small-town assistance, nurturing, and direction (STAND) program has shown to a successful business start up venture within one rural community and will prove to be a model for implementation throughout the State of Ohio. Further studies will be needed to validate the efficacy of the incubator and its ability to impact the local economy.”