Governor names private economic development board members – Organization to take equity in exchange for assistance to fund the program

The organization could perform much like a venture capitalist would by offering startup money and other financial enticements to bring business and jobs to the state in return for equity in the companies. That equity could then serve as a new long-term stream of funding for the state.

By Reginald Fields, The Plain Dealer

Full Story: http://www.cleveland.com/open/index.ssf/2011/07/gov_kasichs_private_economic_d.html