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.