Home
/
RELIGION & LIBERTY ONLINE
/
Why J.D. Vance is bringing venture capital to the Rust Belt
Why J.D. Vance is bringing venture capital to the Rust Belt
Jan 2, 2026 5:53 AM

As Americans continue to face the disruptive effects of economic change, whether from technology, trade, or globalization, many have wondered how we might preserve or revivethe regions that have suffered most.

For progressives and populists alike, the solutions are predictably focused on a menu of government interventions, from trade barriers to wage minimums to salary caps to a range of regulatory constraints.

For conservatives and libertarians, the debate has less to do with policy and more to do with the arc of the individual choices at stake — namely, whether displaced workers should remain and re-invest in their munities or simply pack up and move to where prospects look rosier.

Last winter, Kevin Williamson lit a fire of sortsthat put the core, intra-conservative debate on full display, arguing heavily on the side of geographic mobility for the poor. “If the work is ing to the people, then the people have e to the work,” he wrote. “There is not a plausible third option.”

The subsequent debateincluded thedividing lines peting conservative camps that e to expect: “localists” vs. “traditionalists” vs. munitarian conservatives” vs. “dogmatic free marketeers,” and so on. Yet amid the tension about Williamson’s Option #2, and whether there’s an Option #3, conservatives are prone to forget that there’s plenty we can do with Option #1: Bring work to the people.

At least, that’s the strategy of J.D. Vance, author of the bestselling book, Hillbilly Elegy, which mixes memoir with social analysis to explorethe landscape of hisworking-class upbringing. (See Ray Nothstine’s reviewfor more.)

Now, after the success of his book and a stint as a venture capitalist in California, Vance plans to return to his home state of Ohio, where he’ll seek to invest in “neglected areas of the country,” from the Rust Belt to Appalachia.

In a recent Ricochet podcast, Vance counters the false choice that headlines the current debate, noting that while many of these areas have plenty of struggles, they also have plenty of untapped opportunity and human potential:

There’s a mistake in treating it as an either-or proposition, that you either have pletely discourage all geographic mobility or that you have pletely give up on these towns…

On the private sector side, I do think that there’s a real business opportunity in the fact that you have really significant differences in regional growth curves. When you think about, for example, that 80% of the venture capital goes to California, Massachusetts, and New York, I don’t necessarily think that 80% of the good business ideas are in those three states. I think there’s both an opportunity to do some good, but there’s also a market arbitrage opportunity in that really heavy capital focus in certain regions of the country.

Ohio may not be the next Silicon Valley, Vance continues, but it may have the potential to be the next Austin or Denver, offering fresh and innovative ideas to a country that’s consolidated and concentrated its wealth in coastal cities. “Is there an argument that there is good capital to be put to work, that there are good entrepreneurs to invest in in these areas, where you can make a good return, but also create good businesses in the process?” he asks. “I think the answer is yes.”

In the past few weeks, I’ve highlighted early evidence of such a shift, from Bluefield, West Virginia, to Cincinnati, Ohio. Yet, as Vance reminds us, this doesn’t mean that “moving home” or “investing back home” or “buying local” is a one-size-fits-all solution. Again, the beauty of Vance’s approach is that it doesn’t ignore the weight of the pressures at play, just as it doesn’t pretend that artificial

In a set of reflections on his decision to move back home, Vance emphasizes plicated web of decisions and exchanges that surround each of our vocational journeys, and the ways that geographic mobility can sometimes be the enabler of bringing us home.

Of course, not every town can or should be saved. Many people should leave struggling places in search of economic opportunity, and many of them won’t be able to return. Some people will move back to their hometowns; others, like me, will move back to their home state. The calculation will undoubtedly differ for each person, as it should. But those of us who are lucky enough to choose where we live would do well to ask ourselves, as part of that calculation, whether the choices we make for ourselves are necessarily the best for our munities — and for the country

It may very well be that Williamson is right: “If the work is ing to the people, then the people have e to the work.” The rate of geographic mobility is down, and both Williamson and Vance agree that this is represents its own range ofproblems.

But as we look for ways to spur municate the idea or the option geographic mobility tothose who feel trapped, we’d do well municate the same to those who fortably in the bastions of wealth. Surely they’ve developed their own set of blind spots and insular methods ofself-preservation.

Help the poor relocate? Yes. Help investors and entrepreneurs see economic opportunity where manyrefuse to look? Yes, indeed.

Photo: Abandoned Factory, Travis Wise(CC BY 2.0)

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Video: Lessons from Ukraine’s Holodomor and Soviet Communism
The Acton Institute is currently hosting an art exhibit called “Holodomor: Through the Eyes of a Child” in our Prince-Broekhuizen Gallery at the Acton Building. It features artworks created by contemporary Ukrainian memorating the great famine of the 1930s that was inflicted upon Ukraine by Stalin, resulting in the deaths of almost 7 million people by starvation. The exhibit is the brainchild of Luba Markewycz, whose aim is to shed light on this largely unknown chapter of Ukrainian history and...
What’s a Christian to make of speculation?
The practice of speculation draws mixed reactions among Christians, as some believe it is intrinsically evil and others see great ing from it. Over at Legatus Magazine, Acton’s Director of Research, Samuel Gregg, hopes to shed some light on whether or not Christians should engage in speculation. The Roman Catholic Catechism condemns specific types of speculation, but Gregg argues that the practice could be justified in other situations not addressed by the Catechism. However, before Christians accept or reject it,...
The Church’s Witness to an Atomizing Culture
In an increasingly atomizing and alienating culture, what role does the church play in holding the fabric of civilization together? Over at the Evangelical Pulpit, Bart Gingerich offers a hearty response, albeit by way of answering a rather different question: Why do folks abandon the church, particularly those who still believe in Jesus? Although plenty of disaffected church-ditchers have undergone deep shifts in basic doctrine and belief, Gingerich observes that, for many, “the abandonment testimonies seem fueled more by embarrassment...
Where Does Your State Rank on Economic Freedom?
The Fraser Institute has released the tenth edition of their annual report on economic freedom in North America. The report considers how such factors as size of government, takings and discriminatory taxation, and labor market freedom affect people’s freedom to choose how to produce, sell, and use their own resources, while respecting others’ rights to do the same. Read the report below to see where your state ranks. ...
Go Forth And Create
Are you creative? No, that’s not one of those silly Facebook quizzes; it’s a serious question. Would you describe yourself as “creative?” Turns out, that’s a pretty important question. Folks who study such things say that “creativity” is one of the things employers are looking for in today’s workforce, and not just in places like Silicon Valley. While we value creativity in our culture, it seems as if we’re quashing it in our kids: Common Core doesn’t exactly call for...
I’m a Giant in Japan. Or, Why Income Inequality is Irrelevant
For most of my life I was, at 5-foot-10, of exactly average height. But in the span of one day in 1989 I became freakishly tall. While I hadn’t grown an inch upward, I had moved 6,000 miles eastward to Okinawa, Japan. Since the average height of native Okinawans was only 5-foot-2, I towered over most every native islander by 8 inches. It was the equivalent of being 6-foot-6 in the United States. Unfortunately, when I would leave the towns...
‘We Cannot Accept Trafficking’
Today, Pope Francis met with Orthodox, Anglican, Jewish, Muslim, Buddhist and Hindu representatives to sign a Declaration of Religious Leaders against Slavery. Pope Francis thanked those in attendance for making the mitment to end modern slavery in all its forms. He spoke of the spirit of fraternity among believers, along with the knowledge that humans, created in God’s image and likeness, deserve dignity, regardless of their circumstances. Therefore, we declare on each and every one of our creeds that modern...
‘Mockingjay, Part 1’: More than Meets the Eye
“Mockingjay, Part 1,” the first film installment of the finale to Suzanne Collins’ massively popular young adult trilogy, The Hunger Games, has dominated the box office in its opening week and over the Thanksgiving weekend. As Brooks Barnes reported for the New York Times, “The No. 1 movie in North America was again ‘The Hunger Games: Mockingjay Part 1,’ which took in an estimated $56.9 million from Friday to Sunday, according to Rentrak, a box-office tracking firm. Domestic ticket sales...
Greasing Palms Makes For Dirty Business
If corruption were a global industry, it would be the third largest, accounting for 5 percent of the global economy. In many parts of the world, bribery and corruption are simply considered the price of doing business. However, corruption (both in business and in politics) undermines people’s trust in these institutions. Corruption also forces many people and businesses out of the marketplace and out of the political arena: those with more money are always at an advantage. Transparency International is...
Delivery Boy for a Day
In light of my recent posts on boyhood and the formative power of work, anew holiday ad for UPS does a nice job of illustrating akey point: something deep down in a boy longsfor work, and that basicdesire ought to be guided, encouraged, and discipled accordingly, not downplayed, distorted, or ignored. The ad highlights one of pany’s youngest fans, a boy named Carson, who is fascinated by UPS trucks and relishes the chance to perform deliveries in a miniature model...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved