The Cabinet for Economic Development is the primary state agency in Kentucky responsible for encouraging job creation
and retention, and new investment in the state. Programs administered by the Cabinet are designed to support and promote
economic development, primarily by attracting new industries to the state, assisting in the expansion of existing industries,
leading a statewide network of support for entrepreneurs, small business owners and knowledge-based start-up entities, and
assisting communities in preparing for economic development opportunities.
By statute, the Cabinet is governed by the Kentucky Economic Development Partnership (or the Partnership Board). The
Partnership Board is responsible for directing and overseeing the Cabinet and adopting a strategic plan. The Kentucky Economic
Development Finance Authority (KEDFA) is a statutorily created committee under the authority of the Partnership Board. KEDFA
is responsible for awarding most of the financial incentives offered by the Cabinet. The Partnership Board has also formed a
separate non-state limited liability company, Commonwealth Seed Capital, LLC, to facilitate investment in seed-stage,
The Cabinet consists of:
- Office of the Secretary -
Responsible for the development and administration of executive policies and for the overall management of the agency. The
office also coordinates legislative inquiries and assists with relevant legislative initiatives.
- Department for Business Development -
Responsible for assisting and encouraging new investment, job creation and retention by working with new and existing
businesses. The department provides project management services, including in-state and out-of-state industry visits, information
gathering for clients regarding their location/expansion requirements, traveling with client representatives to view properties
and communities, assisting with applicable financial incentives and facilitating workforce training solutions. The department also
maintains two international offices in Japan and Germany that facilitate foreign direct investment and provides oversight for the
Bluegrass State Skills Corporation.
- Office of Research and Public Affairs -
Responsible for supporting business development in the state through marketing and communications activities, research
support, database and GIS analysis and development and site evaluation services.
- Office of Entrepreneurship –
Provides counseling, training and programs that support entrepreneurship and small business development, as well as encourages
export growth opportunities. The office also provides oversight for the Kentucky Commission on Small Business Advocacy and
manages the Kentucky Innovation Network, a statewide network of Innovation and Commercialization Centers and satellite offices
that provide assistance to knowledge-based firms throughout Kentucky.
- Office of Financial Services –
Provides Cabinet-wide services in areas of accounting, budgetary and fiscal affairs, program administration, compliance,
personnel and administrative functions.
- Office of Legal Services -
Handles all legal issues for the Cabinet and provides general analysis of programmatic and internal administrative issues.