{"data":{"id":"us-ky/krs-154.12-278","jurisdiction":"us-ky","citation":"KRS 154.12-278","heading":"Office of Entrepreneurship and Innovation -- Duties of office and","body":"executive director -- High-tech construction pool and high -tech investment\npool -- Duties of Kentucky Economic Development Finance Authority.\n(1) As used in this section, \"c luster\" and \"knowledge -based\" shall have the same\nmeaning as in KRS 164.6011.\n(2) The Office of Entrepreneurship and Innovation shall:\n(a) Implement the Kentucky Innovation and Commercialization Center Program\nas set forth in KRS 154.12-300 to 154.12-310;\n(b) Monitor the return on investments and effectiveness of the Kentucky\nInnovation Act initiatives as set forth in the Strategic Plan for the New\nEconomy and prepare an annual report by November 1 of each year. The\nreport shall be available on the Cabinet for Economic Development web page\nas required by KRS 154.12-2035;\n(c) Oversee the modernization initiative in KRS 154.12-274;\n(d) Assist the cabinet in the recruitment of research and development companies;\n(e) Assist the cabinet in the attraction of high -technology research and\ndevelopment centers;\n(f) Support growth and creation of knowledge-based, innovative companies;\n(g) Build the infrastructure for innovative businesses and promote networks of\ntechnology-driven clusters and research intensive industries;\n(h) Administer the high-tech construction pool and the high-tech investment pool;\n(i) Recommend projects to the Kentucky Economic Development Finance\nAuthority for funding through the high -tech construction pool and high -tech\ninvestment pool; and\n(j) Review and approve the annual plan which details the annual allocation of\nfunds from the Sc ience and Technology Funding Program. As used in this\nparagraph, the Science and Technology Funding Program means the\nKentucky enterprise fund, the Rural Innovation Program, the Kentucky\nCommercialization Program, the Regional Technology\nCorporations/Innovation and Commercialization Center Satellites, the\nExperimental Program to Stimulate Competitive Research/Kentucky Science\nand Engineering Foundation, Small Business Innovation Research and Small\nBusiness Technology Transfer grants, and other government gr ant programs\nand funding programs as determined by the executive director of the Office of\nEntrepreneurship and Innovation.\n(3) The high-tech construction pool shall be used for projects with a special emphasis\non the creation of high -technology jobs and k nowledge-based companies. The\nexecutive director, in administering the high -tech construction pool, shall\nrecommend distribution of funds and projects to the Kentucky Economic\nDevelopment Finance Authority for its approval. The executive director shall\nrecommend any designated amount of pool funds to be set aside for any match\nrequirements. Any funds used for matching purposes may include public and\nprivate funds.\n(4) The high -tech investment pool shall be used to build and promote technology -\ndriven industries and research-intensive industries, as well as their related suppliers,\nwith the goal of creating clusters of innovation -driven industries in Kentucky. The\nexecutive director, in administering the high -tech investment pool, shall be\nauthorized to recommend funds to be used to support loans and grants, or to secure\nan equity or related position.\n(5) The Kentucky Economic Development Finance Authority shall ensure in their\napproval of funding of projects that the highest priority is given to knowledge-based\ncompanies in fulfillment of the purposes and intentions of the purposes of this\nsection.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=53838","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:52Z","sha256":"815c4cd65a370a4d22e57cd4d9fa75ccb44021d5c5da9692df805d3d6c277ca3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.12-277","next":"us-ky/krs-154.12-280"},"notice":"GroundRules: Original legal text. Not legal advice."}