SOAR, the Kentucky Association for Economic Development, Southeast Kentucky Economic Development Corp., KY Innovation, and the Kentucky Cabinet for Economic Development have teamed up to offer a workshop on the state’s new Kentucky Product Development Initiative (KDPI) on Wednesday, April 5, at the Prestonsburg campus of Big Sandy Community and Technical College (Johnson Building, Room J 102).
The Kentucky Product Development Initiative (KPDI) is a state program to support upgrades at industrial sites to position the state for economic growth. The initiative is a collaboration between the Kentucky Cabinet for Economic Development and Kentucky Association for Economic Development (KAED). It includes $100 million in state funding toward upgrades of sites and buildings across the state.
The workshop is for local government leaders, community and economic development professionals, and anyone else with interest in preparing Eastern Kentucky communities for outside investment. It will provide an extensive overview of KDPI, the application process, and best practices for rural communities. The ultimate goal is to help communities work together as a region to better compete for funding.
It will also feature several members of the leadership team at the Kentucky Department for Economic Development, including:
Those scheduled to speak include:
- Jeff Noel, Secretary of the Kentucky Cabinet for Economic Development
- Katie Smith, Deputy Secretary of the Kentucky Cabinet for Economic Development
- Kristina Slatterly, Commissioner of the Kentucky Cabinet for Economic Development
- Sarah Butler, Commissioner of Financial Services for the Kentucky Cabinet for Economic Development
Beth Land, a partner with Site Selection Group, will also speak.
“SOAR is grateful for the collaboration with KAED and the Kentucky Cabinet for Economic Development on this opportunity,” said Colby Hall, Executive Director of SOAR. “This is intended to bring elected officials and other leaders in economic and community development together in a setting to learn and prepare for this fantastic opportunity. These funds are intended to move our region forward, but they are also competitive. Eastern Kentucky leaders must be able to put quality applications forward to increase their chances for success. This workshop will do exactly that.”
Registration for the Workshop is $25 and includes lunch and light refreshments.
Those eligible for KDPI include local governments and economic development organizations. The funding can be used for site and infrastructure improvement projects that will generate increased economic development opportunities and job creation for Kentucky residents.
KDPI funding is granted through a competitive application process.
The deadline for the next round of letters of intent for KDPI is April 28.
Haley McCoy, President and CEO of KAED, will also speak at the workshop. This will be on the heels of the organization’s annual Collaboration Conference, which will include a KDPI rural case studies session. The conference is set for April 12-13 in Louisville. You can view the agenda and register HERE.
“KAED is extremely excited to partner with SOAR in offering this KPDI training,” said McCoy. “We look forward to meeting with leaders from across the region and hearing from the Cabinet for Economic Development and Site Selection Group. Program criteria will be covered in the training with ample time for Q&A.”