Governor's Office of Agricultural Policy
Kentucky Entrepreneurial Coaches Institute Approved for $883,545
Frankfort, Ky.-The Kentucky Agricultural Development Board approved the University of Kentucky Research Foundation on behalf of the Kentucky Entrepreneurial Coaches Institute for $883,545 in state funds. This proposal was one of the sixty-six projects, totaling $4,440,222 approved at the May Kentucky Agricultural Development Board Meeting.
The funds will be used to expand the Kentucky Entrepreneurial Coaches Institute (KECI). This program will identify coaches or facilitators in 22 tobacco dependent counties in South Central Kentucky with a goal of building a stronger entrepreneurial culture in the area. The primary objective of this project is to encourage the development of new business ideas and ventures in these Kentucky counties. The objective to develop new businesses will be achieved, in part, by identifying and training 60 leaders from the region who are willing to work with entrepreneurs to encourage economic diversification projects.
Governor Fletcher and the Kentucky Legislature continue to make great strides toward lessening Kentucky’s dependence on tobacco production while revitalizing the farm economy by investing 50 percent of Kentucky's Master Settlement Agreement into the Kentucky Agricultural Development Fund. To date, Kentucky has invested more than $240 million to an array of county, regional and state projects designed to increase net farm income and create sustainable new farm-based business enterprises. The diversification programs represent more than 2,896 projects that have been funded through Agricultural Development Fund, since the inception of the program in January 2001.
For more information on this project contact Dr. Ron Hustedde, with the University of Kentucky Department of Agriculture, at (859) 257-3186. To learn more about cost-share grant and loan programs available though the Agricultural Development Fund contact the Governor’s Office of Agricultural Policy at (502) 564-4627.