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Kentucky Economic Development Directory

KY Statewide Economic Development Agencies

Kentucky Cabinet for Economic Development
Larry Hayes
Old Capitol Annex, 300 West Broadway
Frankfort, KY USA 40601
University of Kentucky
Deborah Weiss
Director, Marketing & Public Relations, Office of Commercialization & Economic Development
A 268 ASTeCC Building, University of Kentucky
Lexington, KY USA 40506-0286

KY Utilities

LG&E and KU Energy LLC
Lisa Payne
Team Leader, Economic Development
220 West Main Street, P.O. Box 32010
Louisville, KY USA 40232
East Kentucky Power Co-op.
Chuck Caudill
Manager of Power Delivery
P.O. Box 707
Winchester, KY USA 40392-0707

KY Regional Economic Development Agencies

Commerce Lexington Inc.
Gina Greathouse
Senior VP, Economic Development
330 East Main Street
Lexington, KY USA 40507
Commerce Lexington’s economic development division focuses its energies and resources on the core components of its comprehensive approach to regional economic development, which includes: assisting local business retention and expansion; encouraging entrepreneurial activity and recruiting new business investment.
Ashland Alliance
Bob Hammond
Director of Business Development
P.O. Box 830
Ashland, KY USA 41105-0830
Buffalo Trace Area Development District
Kevin Cornette
Economic Development Director
201 Government Street, Suite 300
Maysville, KY USA 410556
Morehead-Rowan County Economic Development Council, Inc.
Rodney Hitch
100 Lake Park Road
Morehead, KY USA 40351
Nelson County Economic Development Agency
Kimberly Huston
1 Court Square
Bardstown, KY USA 40004
502-348-6402 100
Northern Kentucky Tri-ED
Daniel Tobergte
President & CEO
P.O. Box 17246, 300 Buttermilk Pike, Suite 332
Covington, KY USA 41017
Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

KY County Economic Development Agencies

Anderson County Economic Development Authority
Catherine Myers
Executive Director
100 North Main Street, Suite 213
Lawrenceburg, KY USA 40342
Bullitt County Economic Development
Freida J. Howe
Executive Director
279 South Buckman, P.O. Box 1656
Shepherdsville, KY USA 40165
Danville-Boyle County Economic Development Partnership
Jody A. Lassiter
President & CEO
304 South Fourth Street, Suite 201
Danville, KY USA 40422
Fulton County Economic Development Partnership
Eddie Crittendon
Executive Director
P.O. Box 1413
Fulton, KY USA 42041-1413
Greater Paducah EDC
Chad Chancellor
President & CEO
P.O. Box 1155
Paducah, KY USA 42002-1155
Hopkinsville/Christian County Economic Development Council
Lee Conrad
2800 Fort Campbell Boulevard
Hopkinsville, KY USA 42240
Lincoln County Economic Development Authority
Arlen Sanders
Executive Director
201 East Main Street, Suite 1
Stanford, KY USA 40484
Logan Economic Alliance for Development (LEAD)
Tom Harned
Executive Director
116 South Main Street
Russellville, KY USA 42276
Oldham County Chamber of Commerce
Deana Epperly Karem
Executive Director
412 East Main Street
LaGrange, KY USA 40031
Pendleton Economic Development
Jack Wright
P.O. Box 171
Falmouth, KY USA 41040
Pike County Chamber of Commerce
Brad Hall
President & CEO
787 Hambley Boulevard
Pikeville, KY USA 41501
Scott County United
Jack Conner
160 East Main
Georgetown, KY USA 40324
Shelby County Industrial & Development Foundation, Inc.
Libby Adams / Bobby G. Hudson
Executive Director / President & CEO
316 Main Street / P.O. Box 335
Shelbyville, KY USA 40065

Somerset-Pulaski County Development Foundation
Martin Shearer
Executive Director
P.O. Box 450
Somerset, KY USA 42502
Springfield/Washington County Economic Development Authority
Hal B. Goode
Executive Director
124 West Main Street
Springfield, KY USA 40069
859-336-0052 3
Taylorsville-Spencer County Economic Development Authority, Inc.
Annette King
Executive Director
Donald Morris Smith Building, 88 East Main Street, P.O. Box 506
Taylorsville, KY USA 40071
Union County Economic Development Foundation, Inc.
Paul J. Monsour
Executive Director
P.O. Box 374
Morganfield, KY USA 42437
Winchester and Clark County Industrial Development Authority
Todd Denham
Executive Director
2 South Maple Street
Winchester, KY USA 40391
Woodford County Economic Development Authority
Peggy Sharon
Executive Director
P.O. Box 1509, 103 South Main Street, Suite 203
Versailles, KY USA 40383
Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

KY City Economic Development Agencies

Bowling Green Area Chamber
Dan Preston
VP, Economic Development
710 College Street, P.O. Box 51
Bowling Green, KY USA 42102-0051
Capital Community Economic/Industrial Development Authority
Phillip A. Kerrick
Executive Director
109 Consumer Lane
Frankfort, KY USA 40601
City of Covington Economic Development Department
Jay Fossett
City Manager
638 Madison Avenue
Covington, KY USA 41011
Corbin Economic Development Agency
Bruce Carpenter
101 Depot Street
Corbin, KY USA 40701
Greater Louisville Inc.
Eileen Pickett
Sr. Vice President Community & Economic Development
614 West Main Street, Suite 6000
Louisville, KY USA 40202
Greater Owensboro Economic Development Corporation
Nick Brake
President & CEO
200 East Third Street
Owensboro, KY USA 42303-0825
North Hardin Economic Development Authority
Brad Richardson
Executive Director
3939 South Dixie Boulevard
Radcliff, KY USA 40160
Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

Kentucky State Incentives

The KENTUCKY BUSINESS INVESTMENT (KBI) program provides income tax credits and wage assessments to new and existing agribusinesses, regional and national headquarters, manufacturing companies, and non-retail service or technology related companies that locate or expand operations in Kentucky. Projects locating in certain counties may qualify for enhanced incentives. The KENTUCKY REINVESTMENT ACT (KRA) provides tax credits to any existing Kentucky company engaged in manufacturing and related functions on a permanent basis for a reasonable period of time who will be investing in eligible equipment and related costs of at least $2,500,000. The KENTUCKY ENTERPRISE INITIATIVE ACT (KEIA): For new or expanded service or technology, manufacturing, or tourism attraction project in Kentucky. KEIA provides a refund of Kentucky sales and use tax paid by approved companies for building and construction materials permanently incorporated as an improvement to real property. It is also available for Kentucky sales and use tax refunds for eligible equipment used for research and development and data processing equipment. The KENTUCKY SMALL BUSINESS INVESTMENT CREDIT (KSBIC): program is designed to encourage small business growth and job creation by providing a nonrefundable tax credit to eligible businesses hiring one or more eligible individuals and investing at least $5,000 in qualifying equipment or technology. With certain exceptions, most for-profit businesses with 50 or fewer full-time employees are considered eligible for this program. The KSBIC program is limited to allocating a total of $3 million in tax credits per state fiscal year. KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY DIRECT LOAN PROGRAM (KEDFA): Provides business loans at below-market interest rates (subject to the availability of state revolving loan funds) for fixed asset financing for agribusiness, tourism, industrial ventures or the service industry. Retail projects are not eligible. KEDFA may participate in projects with loans ranging from $25,000 to $500,000. INDUSTRIAL REVENUE BONDS (IRB): Issued by state and local governments in Kentucky, they can be used to finance manufacturing projects and their warehousing areas, major transportation and communication facilities, most health care facilities and mineral extraction and processing projects. COMMUNITY DEVELOPMENT BLOCK GRANTS (CDBG): Federally funded low interest loans made available through the Department for Local Government. KENTUCKY INDUSTRIAL REVITALIZATION ACT (KIRA): Investments in the rehabilitation of manufacturing or coal mining and processing operations that are in imminent danger of permanently closing or that have closed temporarily may qualify for tax credits. An eligible company shall also include one that has closed but resumes mining operations. Eligible entities include manufacturing companies that save or create 25 jobs and coal mining and processing companies that intend to employ a minimum of 500 persons and have a raw production of at least three million tons from the economic revitalization project facility. HIGH-TECH INVESTMENT/CONSTRUCTION POOLS: Provides funds to help further the commercialization of a product, process or other innovation. Incentives awarded are in the form of forgivable loans, with the amount of the loan primarily based on the applicant company’s projected high-tech job creation. These forgivable loans typically range from $150,000 to $400,000 depending upon the project. SBIR-STTR MATCHING FUNDS PROGRAM: The Cabinet will match, on a competitive basis, Phase 1 and Phase 2 federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) awards received by Kentucky high-tech small businesses and those willing to become Kentucky-based businesses. This includes matching Phase 1 federal awards up to $150,000 to support the exploration of the technical merit or feasibility of an idea or technology, and up to $500,000 of federal Phase 2 awards, which support full-scale research and development. COMMONWEALTH SEED CAPITAL, LLC (CSC): An independent, non-profit fund that makes debt or equity investments in early-stage Kentucky business entities to facilitate the commercialization of innovative ideas and technologies. CSC invests in companies that have a significant Kentucky presence, the prospect for substantial growth, and the potential to generate an appropriate rate of return. Investments are typically made in these specified innovation areas: health and human development; information technology and communications; bioscience; environmental and energy technologies; and materials science and advanced manufacturing. KENTUCKY ENTERPRISE FUND AND RURAL INNOVATION FUND: Provides seed-stage capital to Kentucky-based companies that are commercializing a technology-based product or process. The funds exist to stimulate private investment in Kentucky-based technology companies with high growth potential. The Kentucky Science and Technology Corporation administers the funds under contract with the Council on Postsecondary Education. KENTUCKY NEW ENERGY VENTURES FUND: Provides seed stage capital to support the development and commercialization of alternative fuel and renewable energy products, processes and services in Kentucky. The funds exist to stimulate private investment in Kentucky-based technology companies with high growth potential. KNEV makes grants of $30,000 and investments ranging from $250,000 to $750,000+. Qualified companies must be Kentucky-based and funds are to be used for business development activities. INCENTIVES FOR ENERGY INDEPENDENCE ACT (IEIA): Requires a capital investment of at least $25 million for an alternative fuel facility using biomass, or an investment of at least $100 million for an alternative fuel facility using coal, as its primary feedstock. A capital investment of at least $1 million is required for a renewable power facility that meets minimum electric output standards based upon the power source. The negotiated incentives cannot exceed 50 percent of the capital expenditures and may include a reimbursement of sales and use taxes paid on tangible personal property; a tax credit of the income tax and limited liability entity tax owed by the company; and, wage assessment incentives up to 4 percent of gross wages of each employee whose job was created as part of the project. Advanced disbursements may also be available. KENTUCKY ENVIRONMENTAL STEWARDSHIP ACT (KESA): For companies manufacturing products that have a substantial positive impact on human health and the environment. Companies with projects approved under KESA must have at least $5 million in eligible cost and can potentially recover up to 25 percent of the projects fixed asset cost and 100 percent of employee skills training. The tax incentive is available for recovery over a 10-year period. SMALL BUSINESS LOAN PROGRAM: Designed to help small businesses acquire funding. A small business must be engaged in manufacturing, agribusiness or service and technology. Loan funds may be used to acquire land and buildings, purchase and install equipment or for working capital. The minimum loan amount is $15,000 and the maximum is $100,000. The approved company must create one new full-time job within one year of the loan closing. KEDFA can fund up to 100 percent of the project costs and the loan can be used in conjunction with other lenders. The term of the loan can range from 3-10 years. KENTUCKY MICROENTERPRISE LOAN PROGRAM: Provides technical assistance and business loans, up to $50,000, to entrepreneurs in 25 Kentucky counties that formerly had no access to such a program. Funds may be used for, among other purposes, working capital, equipment purchases and inventory purchases. BLUEGRASS STATE SKILLS CORPORATION SKILLS TRAINING INVESTMENT CREDIT: Provides credit against Kentucky income tax to existing businesses that sponsor occupational or skills upgrade training programs for the benefit of their employees. BLUEGRASS STATE SKILLS CORPORATION GRANT REIMBURSEMENT PROGRAM: Provides matching grant funds for customized business and industry-specific training programs. TAX INCREMENT FINANCING (TIF): A tool to use future gains in taxes to finance the current improvements that will create those gains. The state participates with local governments and eligible agencies in three TIF programs: the Commonwealth Participation Program for State Real Property Ad Valorem Tax Revenues, the Signature Project Program and the Commonwealth Participation Program for Mixed-Use Redevelopment in Blighted Urban Areas. TIF LOAN SUPPORT PROGRAM: Any agency with a Tax Increment Financing Signature Project approved by the former Tax Increment Financing Commission and which executed its tax incentive agreement prior to January 1, 2008 may apply for The Tax Increment Financing (TIF) Loan Support Program. The Loan Support Program facilitates a supplemental reserve fund to cover debt service related to the bond financing of the TIF project. LOCAL REDEVELOPMENT TIF: Available for use to redevelop blighted areas into mixed use development by using the incremental additional local taxes such as property or occupational taxes realized as a result of the development. The community or agency can request state participation in this program with certain additional requirements. LOCAL VACANT LAND TIF: Available to develop vacant land by using the additional incremental local taxes, such as property or occupational taxes, realized as a result of the new development (example: construction of infrastructure at a local industrial park). State tax increment is not available for this type of development area. KENTUCKY AGRICULTURAL DEVELOPMENT FUND: Provides incentives for innovative proposals that increase net farm income, stimulates markets for Kentucky agricultural products, creates new ways to add value to Kentucky agricultural products and explores new opportunities for Kentucky farmers. KENTUCKY AGRICULTURAL FINANCE CORPORATION: Provides capital access for agricultural diversification and infrastructure projects. Participating Loan Programs Include: Agricultural Infrastructure, Beginning Farmer, Diversification through Entrepreneurship in Agri-business and Large Animal Veterinary Programs. Direct Loan Programs include the Agricultural Process Loan Program and the Coordinated Value-Added Assistance Loan Program. KENTUCKY INVESTMENT FUND ACT (KIFA): Provides tax credits to individuals and companies that invest in approved venture capital funds. Investors in KIFA approved funds are entitled to a 40 percent credit against Kentucky individual or corporate income tax or Kentucky corporate license tax. KEDFA approves investment funds and fund managers. TOURISM DEVELOPMENT ACT: Provides developers of approved new or expanding tourism projects the ability to recover up to 25 percent of the project’s development costs over a 10-year term. Projects including, but not limited to, lodging facilities constructed on state park, federal park or national forest lands are eligible to recover up to 50 percent of the development costs over a 20-year term. KENTUCKY FILM INCENTIVE: Provides qualifying applicants the ability to recover up to 20 percent of qualified expenditures through a refundable income tax credit. Qualifying applicants must invest a minimum of $50,000 for documentaries and national touring Broadway shows, $200,000 for commercials, $500,000 for full-length films.


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