Saturday, March 20, 2010

Appeal filed to release TNInvestco documents

A Franklin-based venture capitalist is appealing a Davidson County chancellor's ruling that keeps government documents surrounding a $120 million state venture capital program under wraps for five years.
The appeal by Larry Coleman, president of Coleman Swenson Booth, keeps alive his fight to gain public records so he can see how the state rated 25 firms that applied for tax credits under the TNInvestco program and view the winning scores of the six firms chosen to participate.

The appeal was filed Friday in Davidson County Chancery Court. Coleman also filed a motion for expedited review with the Tennessee Court of Appeals.

Earlier this month, the state won the right to keep the records from public view for five years, citing its responsibility to protect confidential information provided by companies investing in the state.

The TNInvestco program makes $20 million in aid available through a program of tax credits for firms to invest in start-up and mid-stage companies to spur economic development and create jobs.


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