YOUNGSTOWN, Ohio (WKBN) – Valley Congressman Tim Ryan and a number of local business leaders spent the day Wednesday showing off their community to a group of potential investors.
Youngstown was one of the stops on a three-day swing through Ohio, Michigan and Indiana by more than a dozen executives around the country, including from California’s Silicon Valley.
All of the visitors are looking for places to grow companies. One of them said he’s made this trip before and likes what he’s seeing.
“I think we’re building relationships much the way you would build an individual company. You build trust and relationships, people that you know, people that you can work with, and then you bring some capital in. You bring some know-how and then you move to the next step,” said Patrick McKenna, with High Ride Venture Partners.
The local portion of the tour included stops in Youngstown at the Business Incubator’s new facilities downtown and America Makes.
The next stop on the tour was Akron. The group will also visit areas in Michigan including Detroit and Flint. They will also visit South Bend, Indiana.
A venture capitalist is a person who invests in businesses, providing money for startups or expansion. Typically, venture capitalists will pool their money through a group or firm that represents them.