RUMFORD – A Rumford native believes he’s figured out how to create a renaissance in the River Valley. It’s a business idea that Mark Henry claims could generate more than $3 million by training low-wage workers to become economically self-sufficient in five years.

That’s why Henry, 39, of Roxbury and Mark Henry Enterprises, formed The Good Fisher, a Maine nonprofit micro-business incubator and training facility. He is in search of $360,000 in startup money, donations of equipment and 12,000 square feet of space.

The Good Fisher will foster and develop entrepreneurial activity in low-income workers in the region through a business co-op that provides training, technical and financial assistance, and long-term business support.

“The River Valley has great potential in its people and location, and The Good Fisher is committed to helping restore the economic viability of the region while renewing pride in our community,” he stated Tuesday in a release.

On Wednesday morning in Rumford, Henry said the business will help independent entrepreneurs develop market-centered, high-value, labor-intensive products.

“We anticipate heavy usage in trade skills, such as woodworking and metal crafts, in addition to the production of finished textile goods such as sewn, knitted, crocheted, quilted and embroidered products. We’ve got brilliant craftsmen in this area,” he said.

People chosen to participate in the program would enter a five-year training and mentoring process.

“The goal right now is to provide it cost free and they would provide complete sweat equity. I hope to get 40 to 50 applicants every quarter, but we’ll probably seat 10 people per class. Through an application and interview process, we hope to find 10 people with skills.

“If I can get The Good Fisher moving 10 people through every quarter, I can create a marked visible improvement in two years,” Henry said.

The first three months involve classroom activities, and building basic financial, marketing and business skills.

During the next nine months, participants would work with staff and mentors to design, refine and sell a product line comprised of three to four labor-intensive, high-value products, according to The Good Fisher’s business plan.

Then, during a four-year support period, participants are provided free or low-cost business space and services, along with continued mentoring and supervision to support long-term success.

Using this approach, Henry said that by the end of the fifth year of operation, The Good Fisher will have graduated 200 entrepreneurs, generating $3.4 million of new income.

“One of our success measurements is for each of the program graduates to be capable of generating an additional $10,000 of net income per year. The $3.4 million figure is generated by extrapolating this out from the first class through the fourth year graduates,” Henry said.

Key components of the program include long-term development and support structure, continuous process improvement, and the use of retail space for training and experience. Funding will be provided by a combination of grants, private-sector contributions, and fund-raising activities.

Henry said he would run the organization as its executive director and hire one full-time person, two part-time employees and gather a group of volunteer mentors.

“No one thing will be the savior of the River Valley area. We are just one cog of the machine. If this takes off and we get funding, we want to grow and expand the business,” he added.

For more information about The Good Fisher, contact Henry at 332-3995, [email protected] or visit www.markhenryenterprises.com.