|Program||# of Grants||EDA Funds|
|*Includes 6 grants awarded from a FY 2010 Disaster Supplemental Appropriation|
EDA awarded 11 grants totaling $12.5 million in the Commonwealth of Kentucky in FY 2012, six of which were disaster recovery grants for affected communities recovering from flooding. Additionally, the University of Kentucky renewed its status as an EDA University Center in the 2012 Atlanta Regional Office University Center competition. These investments are expected to create or retain 2,093 jobs according to grantee estimates.
EDA Investment Increases Statewide Coordination for Economic Development
The Commonwealth of Kentucky has made impressive strides in economic development in recent years, making Kentucky a leader in new industry attraction and expansion. In 2012, exports from Kentucky reached a record $22.1 billion with products and services going to 199 countries and the Commonwealth ranked 10th in Site Selection magazine’s annual Governor’s Cup award, recognizing the highest number of qualifying industry locations and expansions.1
At the heart of the Commonwealth’s economic development efforts is a strong network of fifteen Area Development Districts that comprise a statewide network of multi-county planning and development organizations. These Districts provide critical support to local governments and serve as forums, clearinghouses, technical centers and as conveners for their respective regions. However, to more effectively leverage the Districts’ work, the Commonwealth needed to develop and implement strategies for the ADDs to coordinate their Comprehensive Economic Development Strategies (CEDS). CEDS provide an economic development framework, process, and strategy that supports private capital investment and job creation statewide. The CEDS process will bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy.