Governor's Office for Local Development
Taylor County Receives Grant to Continue Microenterprise Program
FRANKFORT, KY (June 3, 2008) – Gov. Steve Beshear, in conjunction with the Governor’s Office for Local Development (GOLD), has awarded a $50,000 Community Development Block Grant (CDBG) to continue to provide support for Taylor County’s Microenterprise Training Program.
Originated in 1998, the program provides beginning, intermediate and advanced levels of training and technical assistance for existing and potential small business owners with five employees or less in areas such as business development, job development and housing development.
Team Taylor County, the county’s economic development arm, has an ongoing contract with the non-profit community development organization Community Ventures Corporation (CVC) to develop and implement programs designed to promote economic opportunities among low-income and minority populations. As a qualified Small Business Administration (SBA) lender, CVC can also offer different levels of business financing to program participants with loans ranging from $500 to $35,000.
“The Microenterprise Training Program has been a great asset to small start-up businesses that need an extra boost but are not yet large enough to qualify for normal state tax incentive programs,” said Ron McMahan, Executive Director of Team Taylor County’s Economic Development Authority. “We are excited to receive this grant which will allow us to continue providing such an important service to the community and small business.”
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 state’s CDBG program is managed by GOLD and funded through the U.S. Department of Housing and Urban Development (HUD). Approved grants are used to assist counties and cities in revitalizing neighborhoods, expanding affordable housing and economic opportunities, providing infrastructure and/or improving community facilities and services.