Success StoryYouth Entrepreneurship and Former Coal Mine Sites



Youth Entrepreneurship and Former Coal Mine Sites

Author: Ronald Hustedde

Planning Unit: Community & Leadership Development

Major Program: Economic Development

Outcome: Intermediate Outcome

The Extension specialist led business planning workshops for high school students and teachers in the coal-dependent counties of Eastern Kentucky  to develop entrepreneurial approaches for using abandoned coal mine sites.    Student teams from ten high schools developed innovative written business proposals and oral and visual presentations that included  market analyses, competitive advantages, financial projections and feasability, management team assets and other aspects.   It was part of a youth entrepreneurship contest in which the Extension specialist also served as a judge.   Each student in the top winning team received a $1,000 award. Their high school instructors also received significant financial awards.  Cash prizes were also awarded to students and their instructors for second and third place winners.   Members of the financial community heard these presentations and provided feedback.  Key contest organizers have reached out to investors to consider the most innovative proposals for potential follow-up and implementation.