Kentucky Highlands Investment Corporation Receives $1.08 Million in Federal Funds

Thursday, October 23, 2008

FOR IMMEDIATE RELEASE
Thursday, October 23, 2008
Contact: Kelly O’Brien (202) 482-4085

Kentucky Highlands Investment Corporation receives $1.08 Million in Federal Funds

London, Ky. -- U.S. Economic Development Administration (EDA) Director of Legislative and Intergovernmental Affairs Patty Sheetz and U.S. Representative Hal Rogers today presented a $1.08 million EDA investment check to the Kentucky Highlands Investment Corporation of London, Ky., to help build a business incubator that will support the growth of new and small businesses and create higher-skill, higher-wage jobs in southern Kentucky.

“Communities that work together to create dynamic regional economies that foster innovation and competitiveness are the key to America’s continued success as the leader of the 21st century global economy,” said Sheetz. “The Kentucky Highlands business incubator will be a catalyst for growth in the region and will be one of the first new energy efficient business incubator designs in the region that will be built to be certified by the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) building rating system.”

“This financial crisis is a call for leadership and once again, Kentucky Highlands is answering that call. The Business Accelerator is a bold initiative to connect the ingenuity of our region with the technical know-how and expertise of entrepreneurial leaders. We needn’t wait for Wall Street to get its act together. We can succeed by working together, putting ideas into action, and creating a culture of innovation in the hills and hollers of Kentucky. I’m proud to be a part of this initiative and applaud EDA for its continued leadership and dedication to rural America,” said U.S. Representative Hal Rogers.

EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA’s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.

Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.

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