{"data":{"id":"us-ky/krs-154.10-070","jurisdiction":"us-ky","citation":"KRS 154.10-070","heading":"Initiation of new programs.","body":"(1) The board shall have authority to direct the cabinet to initiate any new programs that\nit deems appropriate, including, but not limited to:\n(a) A seed-stage financing program to provide seed -stage financing to innovative\ngrowth-oriented, emerging, and smal l Kentucky firms as distinguished from\nseed-capital financing by the level of risk and return associated with the\ninvestment;\n(b) An applied research and development finance program to provide matching\ngrants to Kentucky's industries and universities to co nduct applied research of\nstrategic importance to Kentucky's economy. If this program is created, the\ncabinet may contract for its administration with the Kentucky Science and\nTechnology Council, Inc.;\n(c) A government permitting and expediting program to assist businesses in\nexpediting government permits and regulatory requirements;\n(d) A surety bonding program to provide bonding assistance for small businesses\nin the form of education of the bonding process, bond waivers, and the\ncreation of a bond fund;\n(e) A Kentucky export authority to utilize the services of the Kentucky World\nTrade Center, university export trade programs, and export programs provided\nby other agencies within a context to provide financial assistance to Kentucky\nexporters through the financing of accounts receivable, letters of credit, and\nloan guarantees, and the use of commissioned sales agents in foreign\ncountries;\n(f) A flexible enterprise networks program to encourage and enable Kentucky\nfirms to apply competitive management pract ices, modernize, and effectively\ncompete in national and international markets;\n(g) An economic response network to collect data on the needs of existing\nbusinesses in order to determine if a particular business or business sector is in\ntrouble and about t o fail or relocate, or is contemplating major expansion\nwithin Kentucky. The purpose of the program would be to assist the cabinet in\ndeveloping responses to suit specific needs of Kentucky businesses and\nindustries;\n(h) A Kentucky technology service to in tegrate, broker, and deliver technology\nand related business services primarily to small - and medium-sized Kentucky\nfirms. The service would fulfill its mission by brokering firms to the best\npossible existing public, private or university expert, by consu lting directly\nwith firms when no expert is available, and by coordinating seminars on\ntechnologies, management practices, and issues of competitive importance to\nKentucky firms;\n(i) A multimedia center to develop teleconference capabilities and other\nspecialized marketing presentations for the use of state agencies and regional\neconomic development centers and communities. The center would support\nKentucky's marketing efforts, enhance the state's image of being progressive,\nand provide marketing and inform ational support to communities throughout\nthe state;\n(j) A community preparedness program to develop a list of criteria to identify\nthose communities which are prepared to accommodate significant new or\nexpanding businesses, to identify deficiencies of tho se communities which do\nnot meet the criteria, and to provide assistance to those communities to\neliminate their economic development deficiencies.\n1. Areas in which criteria would be developed to identify communities'\npreparedness, would include, but not be limited to: infrastructure, site\navailability and conditions, environmental conditions, workforce,\neducation, business and community support, housing, and health care.\n2. Communities having deficiencies should meet the stated criteria through\nassistance from readily available regional and local facilities and\ninstitutions; and\n(k) A marketing assistance program to assess the resources of communities and to\nassist them in marketing and promotional efforts.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2605","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:52Z","sha256":"7632aabdc7afc6a23b669ac7f65b8eab15226c488109de6388ab03713cb7a4ad","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.10-060","next":"us-ky/krs-154.10-080"},"notice":"GroundRules: Original legal text. Not legal advice."}