Miles endows JOB fund to help local residents start businesses

     A new fund has been established to help Alleghany County residents go into business on their own.
     Businessman Donald "D.W." Miles Sr. of Sparta and his wife, Barbara, created the Miles JOB (Job Opportunity Base) Fund and gave $100,000 as seed money.
     Miles is a public-spirited entrepreneur who has pursued numerous business endeavors over the decades in his native county of Alleghany, including Trojan Village Shopping Center in Sparta.
     He also started the annual June Jamboree in Sparta 50 years ago this month. Many special events are planned in observance of the 50th anniversary.
     Miles, still working every day, said he and his wife started the JOB Fund in recognition and appreciation of those who assisted them and to give back to others.
     The JOB Fund will provide start-up money to help local people obtain bank financing, buy equipment and tools or supplementary compensation for on-the-job training, he said.
     "For example, if someone needed $20,000 to start a business, the JOB Fund could provide the initial $4,000 to $5,000 down payment to get a loan," said Miles, adding that many people otherwise lack resources to qualify for down payments because they lack the history that comes with an established operation.
     Over a reasonable length of time, he said, the loan would be repaid to the JOB Fund so that other people might benefit. It is intended to be a resource available for many years to come, said Miles.
     He said there are opportunities in Alleghany for people wanting to start their own businesses as carpenters, electricians, plumbers and other skilled craftsmen due to the need for these in the county.
     Home based ventures and other vocational choices with potential could be funded.
     Service professions like housekeeping and maintenance also hold promise in Alleghany due to the growing number of vacation homes, said Miles. Sparta Town Manager Bryan Edwards praised the Miles JOB Fund's goal of helping skilled people who lack financial resources, but have a lot of potential, start successful businesses in Alleghany.
     "I think he (Miles) really thought this out. He is willing to do what it takes to get something started," said Edwards. "This is a great thing."
     A JOB Fund Board of Directors has been established to review and decide on applications for money from the fund. Miles said considerations will.
     Businessman D.W. Miles presents a $100,000 check to the Board of Directors of Miles JOB (Job Opportunity Base) Fund. Pictured from the left are Miles, Harold Church, Donna Shumate, LeAnn Gambill, John Spicer, Susan Miles Reinhardt, Wayne Miles and Jeff Cox. Not pictured are Barbara Miles and board members David Osborne, Tom Gentry and Jackie Billings.

Read the article published in the September 18, 2008 issue of The Alleghany News!

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Article courtesy of The Alleghany News