Governor's Office for Local Development
Governor Ernie Fletcher Announces Funding for Jessamine County

Press Release Date:  Friday, May 26, 2006  
Contact Information:  Samantha Cook
Public Information Officer
1-800-346-5606
 


           Governor Ernie Fletcher and the Governor’s Office for Local Development (GOLD) announced today a $50,000 Community Development Block Grant (CDBG) for Jessamine County.  Funding will be used for Community Ventures, Inc. to establish a local microenterprise development program.

            Governor Fletcher said, “The prospect of starting a business is one that may occur to many people, but they may feel that they do not have the capital to pursue the goal.  Programs like these help to shift those ideas and illustrate to people that it is something that they can do.”

            Through a partnership established with the Jessamine County Fiscal Court, Community Ventures, Inc. and The United States Small Business Administration (SBA), residents will have access to a comprehensive microenterprise development program.  The program will provide beginning, intermediate and advanced levels of training and technical assistance in areas such as business feasibility, business planning, marketing and financial management to low income persons that are interested in starting a business or managing an existing business.

            Senator Tom Buford (R-Nicholasville) said, “Small business development is essential to economic development.  This is an important project for Jessamine County.”

            Jessamine County will contract with Community Ventures Corporation, a non-profit community development organization with over 20 years of experience in developing and implementing programs designed to promote economic opportunities among low-income and minority populations.  Additionally, as an SBA lender Community Ventures will be able to offer different levels of business financing to program participants with loan amounts ranging from $500 to $35,000.

            Representative Robert Damron (D-Nicholasville) noted, “The opportunity to grow a business is vital to the economic success of Jessamine County.  I am pleased to see these funds awarded.”

            Kentucky's U. S. Congressional leaders continued support of the CDBG program has made the funding available nationally as well as within the commonwealth.  The U.S. Department of Housing and Urban Development makes these funds available through GOLD, which administers the CDBG Small Cities program in Kentucky.

 

(30)