24 to watch in 2024: Appalachian investor, business owner works to boost SE Kentucky economy
The Lexington Herald-Leader is profiling 24 individuals this month that you should be keeping an eye on in 2024. The selected group represents a cross-section of industries, political parties, missions and the state itself. We believe each is notable for their contributions to Kentucky, as well as their plans for the next 12 months.
Who: Geoff Marietta, Appalachian investor and entrepreneur.
Background: Marietta is chief impact officer for the Foundation for Appalachian Kentucky; founder of Invest 606, a business accelerator and pitch competition; and manages the Appalachian Impact Fund. Marietta and his wife, Sky, also own an events venue in Corbin called 2nd & Main; coffee shops in Harlan and Williamsburg; and are partners in the Harlan County Beer Company, a bar and restaurant in Harlan.
Marietta grew up in the Iron Range, a mining area in Minnesota, and received a degree in forestry from the University of Montana before joining Teach for America and teaching on the Navajo Nation in New Mexico. Marietta later received a master’s in business administration and a doctorate in organizational behavior from Harvard University. In 2015, he and his wife, Sky, and sons, Harlan and Perry, moved to Harlan County, where his wife had family. Marietta was executive director of Pine Mountain Settlement School for four years and also held a position as entrepreneur in residence at University of the Cumberlands.
Why 2024 will be notable: In addition to continuing to run his family businesses, Marietta is overseeing the launch of the Southeast Kentucky Angel Investment Fund. The fund received a $680,000 federal grant as part of an initial capitalization of $1 million to build capacity to help entrepreneurs in the region. In addition, Invest 606 will top more than 60 alumni in 2024, enlarging the reach of the non-profit.
Why do you think he will be successful in 2024? “Geoff embodies all that makes success inevitable in our region. He’s got a wealth of knowledge that he shares by working with diverse and eclectic small businesses, all while investing personal resources in his own ventures,” said Gerry Roll, longtime executive director of the Foundation for Appalachian Kentucky. “Geoff doesn’t just work here; he lives here with his family; this is his home. And he is determined to make it the best place to be not just for his children, but for everyone in the community.”
Why is 2024 such an important year for you or your organization? The combination of the new angel investment fund, Invest 606 and the Appalachian Investment Fund creates a system to identify promising entrepreneurs and provide them low-cost capital to start or expand businesses, and will complement other lenders, Marietta said.
“We now have a nascent ecosystem of an entrepreneurial pipeline and a capital pipeline,” Marietta said, which can help “bring businesses from start-up to investable from a private, commercial capital perspective.”
“If a person has a dignified, living-wage job, that is one of the best ways out of poverty, out of drugs, out of addiction. It can literally have generational effects in terms of wealth and opportunity,” Marietta said.
