Sunday, February 17, 2013

Governor Perry's Gust Account

Gust is an online service that connects business start-ups with investor capital.  One investor is The Office of the Governor-State of Texas.  Investors have to accredited, i.e. have a net worth over $1 million or have made over $200,000 per year the last two years.   The Gust description for an accredited investor is below:

An "Accredited Investor" is defined in Rule 501(a) of Regulation D under Rule 144 of the Securities Act. This definition includes certain institutional investors and (a) any natural person whose individual net worth, or joint net worth with that person's spouse, exceeds $1,000,000 at the time of purchase; or (b) any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and who reasonably expects reaching the same income level or greater in the current year.
Therefore the average Texas citizen can't see or review the investment proposal.

Recall that Governor Perry gave The Carlyle Group's Vought Aircraft Industries $35 million to create 3,000 jobs in six years.  Over that period Vought cut 35 positions.  That's $1 million in taxpayer money for each job lost.

Gust is but another layer in Governor Perry's unaccountable use of taxpayer money for corporate handouts. 

The Office of the Governor-State of Texas is a part of our comprehensive directory and accepts Gust applications via email only. Hereʼs how to apply:
  • Complete your Gust site.
  • Weʼll generate an invitation to view your site and email it to this group.
  • The email will be sent from your email address (not Gust).
  • You will be able to see an entry for this group in your dashboard when you log in.
San Angelo's MedHab, a fledgling medical device company, is currently raising funds on Gust. 

Has MedHab's Johnny Ross applied for funding from the Office of the Governor-State of Texas?  He finagled a robust incentive package from the City of San Angelo ($3.6 million).  How much might he hit Governor Perry up for? 

The Office of the Governor-State of Texas - Ideal Startup Investment

The Office of the Governor-State of Texas promotes and strengthens the economy of the state. The Economic Development Bank has assistance for financing small and larger businesses. The program provides incentives for expanding business and relocating other businesses to the region. There are low interest loans and debt financing available for economic development purposes. The program also helps communities build specific programs to help increase economic prosperity and the growth of business.

The Office of the Governor-State of Texas Invests In These Industries

Business Products and ServicesMarketing / Advertising
Clean TechnologyMedia and Entertainment
Computers and Peripherals Medical Devices and Equipment
Consumer Products and ServicesMobile
Electronics / InstrumentationNetworking and Equipment
Financial ServicesOther
Food / DrinkRetailing / Distribution
Healthcare ServicesSoftware
Internet / Web ServicesTelecommunications
IT ServicesTravel

The Office of the Governor-State of Texas Invests In Companies That Have Reached The Following Milestones

Not Available

The Office of the Governor-State of Texas Invests In Companies With These Funding Needs

Not Available

The Office of the Governor-State of Texas Expects Their Investments To Generate

Not Available

The Office of the Governor-State of Texas Investment Portfolio

Not Available
Will Rick Perry blow a gust of financial support under MedHab?  I'm sure Johnny Ross would find that MedHab-ulous.