Enterprise Model
"Learn, Earn and Return"
The Economic Development Enterprise Model can be summarized in three words: Learn, Earn and Return. It's based on fairly simple ideas. Invest in your young people. Give them the tools they need to succeed anywhere in the country and world. And finally, convince them to come home and give back.LEARN. The first step was to establish the Niswonger Foundation with $25 million to create opportunities for community and individual growth through education.
EARN. The second stage includes providing venture capital to help local and relocating entrepreneurs buy or create businesses in this region.
RETURN. The third stage is creating a vibrant, thriving, exciting community to attract entrepreneurs, retirees and tourists.
About Scott M. Niswonger
Scott M. Niswonger was flying over the Midwest thinking economics when he saw a geometric crop circle carved into the cornfields below. He'd been reading an article about the Hershey Foundation, which had been established in 1986 to build and run orphanages with profits from the legendary chocolate company. Niswonger was impressed to discover that the foundation was now worth billions of dollars but thought its purpose was too narrowly focused for such a large endowment.
"I began thinking about how a foundation of that magnitude could affect an entire community, all aspects of it. That's when I looked down and saw this oddly-shaped geometric crop circle. Like that, the plan came to me- whole and complete," Niswonger says. "I opened one of my yellow legal tablets and began sketching it out. By the time we'd landed, the Economic Development Enterprise Model was born."
Niswonger's three-part model can be summarized in three words: Learn, Earn and Return. It's based on fairly simple ideas. Invest in your young people. Give them the tools they need to succeed anywhere in the country and world. And finally, convince them to come home and give back.
"Small town America has experienced a brain-drain for generations as the best and the brightest relocated to metropolitan areas," Niswonger says. "The Learn, Earn and Return model is a viable way to reverse that process and bring a new generation of technological pioneers back to the frontier."
Niswonger's first step was to establish the Niswonger Foundation with $25 million to create opportunities for community and individual growth through education. Focused on local schools facing economic challenges, the Foundation's Partnership Program provides the resources and expertise these schools need to become successful. In five years of operation, Greene County as become a national model for its reading programs, state-of-the-art technology centers and efficient modes of assessment.
In addition, the Foundation's Scholarship and Leadership Training Program has awarded college scholarships to 42 local high school seniors, while providing valuable leadership experience, including internships, training and even workshops with such inspirational notables as seven-time Tour de France winner Lance Armstrong.
"I wanted to give our local young people opportunities to attend the best schools in the nation," Niswonger says. "In turn, we have a commitment from these young scholars to return to the Greeneville area to give back to this community."
The second stage of Niswonger's model includes providing venture capital to help local and relocating entrepreneurs buy or create businesses in this region.
"If these kids come back to this region with degrees and good ideas we want to sit down and help them develop a successful business plan," Niswonger says. "We've set aside $50 million for capital to help get these businesses off the ground and running. We want to fund these people's dreams until they're bankable on their own. Of course, these opportunities are also available to entrepreneurs who are already here or who are willing to relocate and create new businesses here."
Yet Niswonger recognizes that to lure young people away from the nation's metropolitan areas, a small town must provide a vibrant thriving, exciting place to live. As a result, he has already begun revitalizing Greeneville by constructing a performing arts center, a sports complex and a 50,000-square-foot office building; renovating the luxurious General Morgan Inn and its surrounding historic downtown; and planning a wide range of new projects including new residences, spas, bars, outdoor areas, movie theaters and other spaces.
"To be able to recruit high-level businesses and entrepreneurs, we have to improve quality of life and resources," Niswonger says. "We need planned housing developments for the young people. We need a rich social, cultural and economic community; a place that is globally connected to the international business world through technology while retaining all the benefits of small-town living; a place where anyone can safely raise a family while remaining at the cutting edge of the world's marketplace. We're looking for pioneers to return to the frontier."
According to Niswonger, these "pioneers" will not just include mobile entrepreneurs with knowledge-based business and new technologies, but baby boomers starting second careers, young people starting families, tourists looking for a perfect getaway, and retirees looking for a vibrant community with traditional values.
"Everywhere there's a guy like me who's done very well in business. People who want to give, but need provable, measurable results that you've made an improvement," Niswonger says. "Ultimately, I would like to see this become a national model."
A group of visionaries led by entrepreneur, community leader and philanthropist Scott M. Niswonger recently launched an extraordinary plan to turn the town of Greeneville into a fresh, economically sustainable model for small-town America on September 6, 2007 at the historic General Morgan Inn located in downtown Greeneville. The press conference provided the media with a detailed outline of the group's vision for Greeneville, including its comprehensive plan to transform the northeastern Tennessee town into a desirable community for a "new generation of 21st century pioneers."