JACKSON - Fresh from its merger plans with Lawrence Financial Holdings, Oak Hill Banks is making news again, but this time the financial entity is teaming with Uncle Sam.

Oak Hill Banks will be investing up to $20 million in its Community Development Corp. to promote economic development in low-income areas of Southern Ohio. Lawrence County is one of nine counties that will benefit from the investment.

The funds will be appropriated in the form of loans to area businesses in an effort to spur the creation of new jobs. It is made possible in part through the federal government's New Markets Tax Credit (NMTC) program.

"I think it can mean quite a bit to Lawrence County, especially for medium and small businesses in terms of getting better rates on loans," said Everett "Buddy" Martin.

Martin will work as the Lawrence County representative to the board made up of businesspeople from the nine-county area. The board was formed to make recommendations to the OHBCDC concerning economic development in their respective counties.

He currently serves as the director of the Lawrence County Jobs and Family Services. Despite the busy schedule such a position creates, he said the opportunity to help area residents helped him decide to join the effort.

"I got a call and they asked me if I would be willing to serve," Martin said. "I said 'Tell me about it.' When they explained what would be involved, I agreed because I thought I could do something to help the county."

Martin said he hoped the board would focus attention and funds on small to medium-sized businesses, the true backbone of the community. The program would be a learning experience for area residents thinking of starting their own businesses.

But Lawrence County has some challenges to overcome, Martin said. While the area has a large potential workforce base, it is at a disadvantage in terms of transportation.

In addition, it is not the only county looking to expand economic growth, therefore, it would in essence be competing with other counties. But according to Martin, that is no reason to be discouraged.

"We have a lot to offer to businesses thinking of locating to this area," he said. "Our workforce is one of the best you will find anywhere."

According to its official government Web site, "the NMTC program permits taxpayers to receive a credit against Federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). Substantially all of the qualified equity investment must in turn be used by the CDE to provide investments in low-income communities."

Lawrence County native Connie Freeman will work closely with the advisory board by overseeing all aspects of the NMTC community development effort of Oak Hill Banks.

"Connie (Freeman) has had great experience and success with economic development," said Oak Hill Banks President and CEO Scott J. Hinsch in a news release. "That experience, coupled with her knowledge of the region, makes her the best person to lead our efforts to promote economic growth and development in Southern Ohio."

Freeman joined Oak Hill Banks in 1999. Prior to that she served three years as director of the Lawrence Economic Development Corporation Procurement Outreach Center in South Point.