Natalie Andrews reported on Friday at The Wall Street Journal Online that, “Standing before a group of Michigan entrepreneurs, Rep. Tim Ryan introduced more than a dozen venture capitalists from Silicon Valley and New York who were on a three-day road trip the Ohio Democrat organized to try to boost businesses in cities that need a comeback.
“He referenced T-shirts heralding their destination cities.
“In the Motor City, it was ‘Detroit Against the World’; for Cleveland is was ‘Believeland’; and in Youngstown, Ohio, the motto was ‘Defend Youngstown.'”
Ms. Andrews indicated that, “The road trip took mostly Democratic venture capitalists from California and New York to beleaguered cities in the Midwest that collapsed with the decline of U.S. manufacturing and have struggled to recover after the recession 10 years ago.
“These were all cities in 2016 with median household income below the U.S. average of $55,000 by $20,000.
“On Wednesday, the group went to meetings in Youngstown and Akron, Ohio. Thursday took the band to Detroit and Flint, Mich., a city facing a public-health crisis over lead poisoning in the local water supply and where 41.9% of residents live in poverty, according to the U.S. Census.”
The Journal article added that, “On Friday, the group headed to South Bend, Ind.
“At times, the lawmakers said they were on a ‘diplomatic mission’ to introduce investors from the nation’s investment capitals to entrepreneurs in towns that lost luster when steel mills and auto factories closed.”