JEAN HARDIMAN
[ entrepreneurship ]
Photography by Hatfield McCoy Trails.
Embracing Opportunity
Entrepreneurism on the Trail
Southern West Virginia is seeing a rebirth in entrepreneurial opportunity along the Hatfield McCoy Trail System, which has gone from 4,000 annual all-terrain vehicle( ATV) riders to more than 39,000 in its 16-year history.
Looking to grow its success, the trail system has developed a three-year marketing plan of about $ 1.1 million with help from the Appalachian Regional Commission( ARC) and about a dozen local entities to increase the total annual sale of permits for ATV riders by an additional 20,000. The trail system expects to be halfway to that goal by year’ s end, according to Jeffrey Lusk, executive director of the Hatfield-McCoy Regional Recreation Authority. Based on permits sold to riders, the trail system is on pace to have more than 45,000 visitors by the end of 2017.
Currently, more than 80 percent of the ATV riders are coming from out of state, meaning they need places to eat and sleep and things to do when they’ re taking a break from the trails. The counties where the 600-mile trail system is located— as well as those surrounding it— are falling short on much-needed amenities like these. Over the past year, important partnerships have been formed and vital grants have been received to help encourage more West Virginians to launch new businesses and fill these voids.
Grants for Growth
The ARC has granted funding to the Hatfield-McCoy Regional Recreation Authority as part of the POWER Initiative to help market the trail and assist potential entrepreneurs. Coupled with a separate ARC grant to the Natural Capital Investment Fund( NCIF), the funds have helped establish a program in partnership with Southern West Virginia Community and Technical College( SWVCTC). Together, they aim to provide business coaching, small business training and risk capital to entrepreneurs developing businesses to support the in-demand trail system.
The NCIF, based in Shepherdstown, WV, received $ 1.25 million from the ARC—$ 1 million in loan capital it will use to leverage an additional $ 3 million in nonfederal matching funds for a total of $ 4 million in loan capital to support Hatfield-McCoy related businesses in the nine-county region that is targeted for the initiative. The remaining $ 250,000 covers operating support for the trail system’ s new Southern West Virginia office and business lender, Justine White, to develop a New Markets Tax Credit Program strategy for West
ExEdge
The Hatfield McCoy Trails is one of the largest offhighway vehicle trail systems in the world with over 600 miles of trails.
Source: www. trailsheaven. com
Virginia and coal-impacted communities.“ We have also received operating support from the Claude Worthington
WWW. WVEXECUTIVE. COM FALL 2017 27