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, knowledge-based companies.

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.
• Department for Business Development - Responsible for assisting and encouraging job retention and creation by working with new and existing businesses. Department staff provide project management services, including out-of-state trips to recruit industry, information gathering for clients regarding their location requirements, traveling with client representatives to view properties and communities, assisting with applicable financial incentives, facilitating workforce training opportunities, and providing programs and expertise for small business development and international trade. The Department also includes three international offices in Japan, Mexico, and Germany to facilitate foreign-direct investment and export growth.
• Office of Commercialization and Innovation - Leads the state’s technology-based economic development efforts. Responsible for developing and implementing a strategy to build and promote technology-driven and research-intensive industries with the goal of creating high-tech job opportunities and developing clusters of innovation throughout the state. Administers and recommends funding to facilitate recruiting, creating, and retaining innovation-driven companies and jobs, producing new products and services, and developing new and improved processes.
• Office of Research and Public Affairs - Responsible for marketing and communications activities, research support, database and GIS development and the compilation of a statewide industrial property inventory.
• Office of Compliance, Financial and Administrative 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.