Invest Appalachia Backs Revival of Harlan’s “Jewel of Appalachia” as Anchor of New Community Investment Strategy
FOR IMMEDIATE RELEASE: Friday, September 25, 2026
Harlan County, KY –Invest Appalachia, in partnership with One Harlan County and with philanthropic capital advised by the Paul Angell Foundation, has established a dedicated pool of catalytic capital focused on Harlan County — a new program designed to turn philanthropic dollars into repayable, locally rooted investment that creates living-wage jobs and long-term economic opportunity for Harlan County residents. The partnership’s flagship project is the redevelopment of the historic Lewallen Hotel, once known as the “jewel of Appalachia,” in downtown Harlan.
The partnership is part of Invest Appalachia’s emerging capital stewardship program, where IA works alongside funding and community partners as a trusted regional intermediary, pairing patient capital with community-centered investment strategies that translate into lasting, locally shared benefit. It represents the Paul Angell Foundation’s first philanthropic investment in Harlan explicitly focused on leveraging capital, growing locally rooted enterprises, and eliminating poverty. Baylen Campbell, Invest Appalachia’s Director of Strategic Partnerships, noted, “Capital stewardship is about making every dollar work harder than it could alone. This model protects against risk and stays accountable to the community it’s meant to serve. This partnership does that by design — the Angell Foundation provides the catalytic capital, our team works to conduct due diligence on projects and deploy the tools that leverage it, and partners like One Harlan County can keep the work grounded in local priorities. It’s a model built for places like Harlan, where the right structure can turn a single grant into lasting economic momentum.”
How the Capital Stewardship Partnership Works
The partnership brings together four organizations, each with a distinct role, to do something none could accomplish alone: multiply the impact of philanthropic dollars by using them to unlock private and repayable investment.
Through a Paul Angell Foundation donor-advised fund housed at the Foundation for Appalachian Kentucky, the partnership provides grant funding to capitalize a geographically focused pool of catalytic capital for projects in Harlan County. The Paul Angell Foundation participates in learning and strategy discussions and helps shape investment priorities over the course of the partnership, while Invest Appalachia manages the catalytic capital tools that unlock repayable investment from other sources. This pillar works in parallel with and complements the Paul Angell Foundation’s existing portfolio of grantees and scholarship funds in Harlan County, deepening its commitment to the region by supporting food security, healthcare access, education, workforce development, economic opportunity, downtown revitalization, and the elimination of poverty.
As foundations turn to intermediaries that can mobilize catalytic capital, IA will serve as the impact investing infrastructure on behalf of the donor, providing targeted capital support in Harlan County. This is done with the aim of diversifying the economy in Harlan County by creating more jobs and a more prosperous future.
Invest Appalachia serves as the partnership’s investment arm and catalytic fund manager. It deploys philanthropic capital through tools such as recoverable grants, loan guarantees, and other unsecured catalytic products that de-risk and leverage loans from the Invest Appalachia Fund and other lenders. Invest Appalachia also provides investment-readiness training and ecosystem strategy support to local partners, and collects, analyzes, and reports impact and leverage data back to the Foundation and community partners.
One Harlan County serves as the primary local partner, building the investment pipeline by connecting community members and prospective projects with catalytic capital and/or technical assistance. Funding from the grant will build organizational capacity and support a number of strategic initiatives, including small business grants, incentives for local businesses and entrepreneurs, updated marketing materials promoting Harlan County’s economic development opportunities and quality of life, and the creation of a remote worker and technology hub designed to attract new talent while supporting local innovation.
According to Geoff Marietta, Executive Director, One Harlan County, “Harlan County has laid real groundwork over the past several years, and partnerships like this one are how a rural county reaches national-caliber resources it couldn’t access on its own. Our job is to make sure that capital connects to the right projects and the right people, and that community priorities stay at the center of every decision.”
While supported in partnership with the Paul Angell Foundation, this initiative is directly championed by Mrs. Sharon Davis-Angell, a native of the Bledsoe Community in Harlan County, and trustee of the Paul M. Angell Foundation. Through a dedicated donor-advised fund, Mrs. Angell’s support to Invest Appalachia helps catalyze ongoing community and economic development that directly complements other philanthropic work across the county.
“Harlan County will always be home to me,” said Mrs. Angell. “I have been encouraged by the good work taking place throughout the county and by the people who are working every day to build a stronger future. I believe lasting change happens when communities invest in themselves, and I am grateful to be able to give back to the place that helped shape my life.”
Pairing Capital with Community-Centered Planning
What distinguishes this model is that capital arrives alongside rigorous, community-centered due diligence. As part of its process, Invest Appalachia requires robust community engagement, workforce-readiness planning, and inclusive economic participation for the projects it supports. One Harlan County serves as the on-the-ground liaison between Invest Appalachia, project developers, local businesses, workforce partners, and community organizations — ensuring those requirements are met efficiently and thoughtfully.
The investment comes at what local leaders describe as an inflection point for Harlan County, which has built growing momentum through downtown revitalization, workforce initiatives, entrepreneurship, broadband expansion, and tourism growth.
A Flagship Project: The Harlan Hotel
The partnership’s first flagship project is the Harlan Hotel — a planned 28-room boutique hotel in historic downtown Harlan, and a renovation of the early-1900s Lewallen Hotel, long known as the “jewel of Appalachia.”
Once complete, the Harlan Hotel would offer the only lodging in downtown Harlan, giving the roughly 50,000 festival attendees who visit annually, along with outdoor enthusiasts and business travelers to the nearby courthouse and convention center, a place to immerse themselves in Harlan’s culture and history. Anchored in the center of town, guests would be able to walk to restaurants, the multi-arts center, coffee shop, downtown boutiques, and festivals.
Beyond its guest rooms, the hotel is planned to include a lobby bar and restaurant, roughly 250 square feet of meeting space, and a sundries counter. The developers intend to restore the building’s historic character and re-establish it as a central social and gathering spot for visitors and locals alike. The project is expected to create 25 new jobs and to contribute to tourism and creative placemaking in downtown Harlan.
The hotel is one of several projects in the partnership’s pipeline showcasing the same community-centered navigation.
About The Paul Angell Foundation
The Paul Angell Foundation is a Chicago-based private foundation created in 2011 to honor the legacy of Paul Angell. It makes grants in three priority areas: Conservation, Performing Arts, and Social Impact. The Foundation works toward thriving, equitable communities in which the arts flourish, and healthy oceans sustainably support the human and animal life that depends on them. Learn more at https://paulangell.org/.
About Invest Appalachia
Invest Appalachia is a regional blended capital platform, designed to accelerate and expand community investment across Central Appalachia. Our mission is to help finance Appalachia’s transition to a more resilient, equitable, and sustainable economic future. Invest Appalachia is governed by a regionally representative board of directors and managed by regionally rooted staff. Invest Appalachia works across the Appalachian counties of Kentucky, West Virginia, Virginia, Ohio, North Carolina, and Tennessee, catalyzing community investment from the ground up. Through the development of the Capital Stewardship program, Invest Appalachia collaboratively designs and manages place-based and thematic investment programs — including the Rural News Fund and dedicated initiatives like the Harlan County partnership — that pair patient capital with community-centered planning to meet the specific needs of the places it serves. To learn more, visit www.investappalachia.org.
About One Harlan County
One Harlan County is a collaborative economic and community development organization dedicated to building a stronger, more resilient future for Harlan County. Through strategic investment, downtown revitalization, entrepreneurship support, industrial recruitment, and workforce development, OHC works to expand economic opportunity across the region. As the primary local partner in the Capital Stewardship partnership, One Harlan County connects local entrepreneurs and community projects with catalytic capital and technical assistance, while driving strategic initiatives such as small business grants, local business incentives, regional marketing, and the development of a remote worker and technology hub. To learn more, visit oneharlan.com.
About Foundation for Appalachian Kentucky
The Foundation for Appalachian Kentucky is a nationally accredited, community-led foundation serving Appalachian Kentucky. The Foundation for Appalachian Kentucky invests in people, places, and ideas that strengthen Appalachian communities. By hosting and managing The Harlan County Resilience Fund and partnering with The Paul Angell Foundation, Invest Appalachia, and One Harlan County, the Foundation for Appalachian Kentucky supports the infrastructure needed for impactful work to take place in Harlan County. To learn more, visit: https://www.appalachianky.org/
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