KRS 154.10-070: Initiation of new programs.

(1) The board shall have authority to direct the cabinet to initiate any new programs that

it deems appropriate, including, but not limited to:

(a) A seed-stage financing program to provide seed -stage financing to innovative

growth-oriented, emerging, and smal l Kentucky firms as distinguished from

seed-capital financing by the level of risk and return associated with the

investment;

(b) An applied research and development finance program to provide matching

grants to Kentucky's industries and universities to co nduct applied research of

strategic importance to Kentucky's economy. If this program is created, the

cabinet may contract for its administration with the Kentucky Science and

Technology Council, Inc.;

(c) A government permitting and expediting program to assist businesses in

expediting government permits and regulatory requirements;

(d) A surety bonding program to provide bonding assistance for small businesses

in the form of education of the bonding process, bond waivers, and the

creation of a bond fund;

(e) A Kentucky export authority to utilize the services of the Kentucky World

Trade Center, university export trade programs, and export programs provided

by other agencies within a context to provide financial assistance to Kentucky

exporters through the financing of accounts receivable, letters of credit, and

loan guarantees, and the use of commissioned sales agents in foreign

countries;

(f) A flexible enterprise networks program to encourage and enable Kentucky

firms to apply competitive management pract ices, modernize, and effectively

compete in national and international markets;

(g) An economic response network to collect data on the needs of existing

businesses in order to determine if a particular business or business sector is in

trouble and about t o fail or relocate, or is contemplating major expansion

within Kentucky. The purpose of the program would be to assist the cabinet in

developing responses to suit specific needs of Kentucky businesses and

industries;

(h) A Kentucky technology service to in tegrate, broker, and deliver technology

and related business services primarily to small - and medium-sized Kentucky

firms. The service would fulfill its mission by brokering firms to the best

possible existing public, private or university expert, by consu lting directly

with firms when no expert is available, and by coordinating seminars on

technologies, management practices, and issues of competitive importance to

Kentucky firms;

(i) A multimedia center to develop teleconference capabilities and other

specialized marketing presentations for the use of state agencies and regional

economic development centers and communities. The center would support

Kentucky's marketing efforts, enhance the state's image of being progressive,

and provide marketing and inform ational support to communities throughout

the state;

(j) A community preparedness program to develop a list of criteria to identify

those communities which are prepared to accommodate significant new or

expanding businesses, to identify deficiencies of tho se communities which do

not meet the criteria, and to provide assistance to those communities to

eliminate their economic development deficiencies.

1. Areas in which criteria would be developed to identify communities'

preparedness, would include, but not be limited to: infrastructure, site

availability and conditions, environmental conditions, workforce,

education, business and community support, housing, and health care.

2. Communities having deficiencies should meet the stated criteria through

assistance from readily available regional and local facilities and

institutions; and

(k) A marketing assistance program to assess the resources of communities and to

assist them in marketing and promotional efforts.