No place like home for growth

No place like home for growth

Who says you can’t go home?

That rhetorical question is the overriding philosophy of a promising new economic development initiative for the Mahoning Valley dubbed “Grow Home.” It is designed to attract successful Youngstown State University-educated entrepreneurs back to the Mahoning Valley to start up businesses and industries.

The campaign, spearheaded by U.S. Rep. Tim Ryan, Youngstown State University and The Regional Chamber, has already logged success.

Gary Wakeford, a YSU graduate and Valley native, planted the seed. He was offered the presidency of a start-up medical equipment company from Massachusetts and agreed to take the job — but only if the company headquarters moved to Youngstown. Today, Wakeford and Syncro Medical Innovations call the fast-expanding 20 Federal Place office complex in downtown Youngstown home.

There’s no reason why that success story cannot be multiplied many times over.

Given the tens of thousands of successful YSU alumni scattered all over the nation and the world, the project has potential to realize the goals of its sponsors to promote the many state and local economic development incentives available here and to put the Valley on the map as a critical cog in the expanding “Tech Belt” between Pittsburgh and Cleveland.

A plug for our brain drain

In keeping saavy young graduates from darting out of the region once they cross the stage in Beeghly Center to receive their degrees, Grow Home can also work to plug this region’s brain drain, one of the most longstanding roadblocks to growth and development — particularly in the tech sector — in the Valley.

Grow Home relies heavily on the power of networking. Team members can help an alumni business owner or decision maker secure investment incentives, get strategic information on Ohio’s business-friendly tax structure, access low-interest project financing and identify properties available for business use.

We are confident that the program can succeed toward bringing viable growth to our region’s business base, population growth to our communities and growth in good old-fashioned hometown pride. As such, all principals in Grow Home should promote and market the partnership aggressively.