Resources
Creating a System of Support for Entrepreneurs and Small Businesses in Kentucky, RUPRI Center for Rural Entrepreneurship for MACED. (1.7 Mb PDF) This report notes the need for Kentucky to shift more of its economic development emphasis to entrepreneur and small business development and build upon its existing non-profit and public programs and services to create a stronger and more seamless support system.
Economic Growth in Kentucky: Why Does Kentucky Lag Behind the Rest of the South? Christopher Jepsen, Kenneth Sanford and Kenneth R. Troske for the Cabinet for Economic Development. This report suggests Kentucky’s poor economic performance can be linked to low educational attainment, inability to attract skilled in-migrants, lack of coordination between economic development system and the rest of state government, and lack of success in development for rural Kentucky.
Child Care in Appalachian Kentucky (1Mb PDF) This report explores the problems of the financial sustainability of child care providers in Appalachian Kentucky and makes suggestions for improvement.
Kentucky Programs and Infrastructure to Promote Small Business and Entrepreneurship (175 kb PDF) An inventory of assistance available to small businesses and emerging enterpreneurs.
Identifying High Road Economic Development Strategies (540 kb PDF) Kentucky needs a more diversified set of strategies that put greater emphasis on building from Kentucky’s strengths, assets, and opportunities. Two areas of strategies deserve particular attention: 1) comprehensively support KY’s key clusters and sectors (which may include advanced manufacturing and logistics, creative enterprises, sustainable land use ventures, medical and information technology innovations, and critical care services), and 2) broaden and increase general support of entrepreneurship and small and existing business development.
Proposals to Reform Kentucky's Economic Development System (200 kb PDF) Transitioning to the High Road in Kentucky will require new ways of thinking not only about what the state does in the area of economic development, but how it operates—improvements in the nature of its economic development system. Economic development experts increasingly note that well-crafted, effective, and accountable economic development systems are crucial to building prosperous state economies. Kentucky’s system needs improvements in the areas of governance, planning, research, budgeting, and evaluation.
Accounting for Impact: Economic Development Spending in Kentucky. (2 Mb PDF) This report was prepared by the Mountain Association for Community Economic Development to document the amount of state spending on economic development. In 2004, Kentucky spent approximately $808 million in the area of economic development. But the vast majority of that spending was not out in the open, subject to the public scrutiny of the state budget process. Instead, it happened under the radar through business tax breaks and subsidies buried in state tax law.
An Examination of Incentives to Attract and Retain Businesses in Kentucky, William Hoyt, Christopher Jepsen, and Kenneth R. Troske. (296 kb PDF) This report was prepared for the Kentucky Cabinet for Economic Development. Training incentives are also associated with gains in employment and earnings in a county. A 10 percent, or $7,004, increase in this program is predicted to increase employment by 2.79 jobs and increase earnings by $160,146 in the typical county.
The Kentucky Per Capita Income Analysis report. (164 kb PDF) This was prepared for Kentucky Science & Technology Corporation. Per capita income is widely regarded as a critical measure of the health of an economy. Over the last 20 years, the Kentucky per capita income has improved from 80.1 percent of the national average to 82.2 percent. If Kentucky continues to grow at this rate, it will take the commonwealth 154 years to reach the national average.
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