From Keith Bellows at National Geographic:
Zita Cobb is building a future that respects the past. Her Shorefast Foundation, founded in 2006 on Newfoundland’s rugged Fogo Island, aims to parlay 400 years of local culture, centered historically on fishing, into a thriving economy bolstered by the arts and tourism. To that end, the foundation is funding the construction of art studios—complete with a residency program for guest artists—and a 29-room inn, set to open this year, where visitors and locals will mingle in common areas. The foundation will also grant micro-loans to help locals start their own businesses on the 92-square-mile island. Cobb, who made her fortune in the high-tech industry, is at the vanguard of a culturally responsible form of entrepreneurship.