Kentucky Cabinet For Economic Development

Name

Kentucky Cabinet For Economic Development

Legal name

Kentucky Cabinet for Economic Development

Website

https://ced.ky.gov

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Administration of Economic Programs (9261), Administration of Economic Programs (926), Public Finance Activities (92113), Executive, Legislative, and Other General Government Support (921)

akta.pro primary industry

Governor/Executive Office & Cabinet Administration (BPAIABAA)

akta.pro secondary industries

State/Provincial Treasury, Budget & Fiscal Management (BPAIABAC), State/Provincial Labor, Employment Standards & Workforce Development Administration (BPAIABAN)

Keywords

• Economic development services
• Business incentive programs
• Site selection assistance
• Workforce training grants
• State investment promotion

Headquarters

HQ city

Frankfort

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Government Appropriation and Tax Incentives: The Cabinet for Economic Development is a state government agency that encourages job creation, retention, and new investment through various financial incentive programs. It does not generate revenue but rather allocates state funds and tax incentives to qualifying businesses. KEDFA (Kentucky Economic Development Finance Authority) provides loans, bonds, grants, tax credits, and tax increment financing to approved economic development projects.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

The Kentucky Cabinet for Economic Development is a state government agency that encourages job creation, retention, and new business investment in Kentucky. It offers site selection assistance, financial incentive programs (loans, bonds, grants, tax credits), workforce training support, and dedicated project managers to companies seeking to locate or expand in the Commonwealth. The Cabinet administers programs through KEDFA, BSSC, KPDI, KEI, and the GRANT program.

Product overview

The Kentucky Cabinet for Economic Development operates as a unified platform-plus-portals architecture, consisting of the main New Kentucky Home website (newkentuckyhome.ky.gov) serving as the central hub, with specialized search databases for Location and Expansion Search (locationexpansionsearch.ced.ky.gov), Financial Incentives (fisearch.ced.ky.gov), and Facilities Search (facilitysearch.ced.ky.gov). The portfolio also includes workforce training through the Bluegrass State Skills Corporation (BSSC), site development funding via the Kentucky Product Development Initiative (KPDI), entertainment incentives (KEI), the GRANT program, the Speed to Market portal, and international office support. These interconnected tools provide a comprehensive ecosystem for business location, expansion, and workforce development in Kentucky.

Differentiator

Problem solved

Functional benefit

Brands

• Kentucky Economic Development Finance Authority (KEDFA): Entity within the Cabinet responsible for awarding financial incentives including job growth and retention tax credit programs, loans, bonds, grants and tax increment financing.
• Bluegrass State Skills Corporation (BSSC)
• New Kentucky Home
• KY Innovation

Products and services

• Financial Incentives Program Financial incentive offerings administered through KEDFA, including job growth and retention tax credits, loans, bonds, grants, and tax increment financing, available to qualifying businesses locating or expanding in Kentucky.
• Bluegrass State Skills Corporation (BSSC) Workforce Training Workforce training incentive program offering Grant-in-Aid (GIA) cash reimbursements and Skills Training Investment Credit (STIC) for occupational and skills upgrade training at Kentucky businesses.
• Kentucky Product Development Initiative (KPDI) Site and building development funding program across Kentucky counties to attract future investment and job creation, with $220 million in total funding allocated to date.
• Kentucky Entertainment Incentive (KEI) Incentive program supporting entertainment industry projects in Kentucky.
• GRANT Program (Government Resources Accelerating Needed Transformation) Government Resources Accelerating Needed Transformation program supporting economic development projects in Kentucky.
• Speed to Market Portal Online portal providing businesses with quick access to resources and guidance for starting or expanding operations in Kentucky.
• Location and Expansion Search Database Searchable database of Kentucky business location and expansion announcements, with data from January 2003 to present.
• Financial Incentives Database Searchable database of KEDFA and BSSC approved economic development projects, searchable by company name, location, program type, project status, and approval dates.
• Facilities Search Database Database providing access to Kentucky's manufacturing and service industry facilities data, searchable by facility type, location, industry, and foreign ownership.
• Available Sites & Buildings Search Tool Property search tool powered by ZoomProspector allowing users to find available industrial sites and buildings across Kentucky for business location and expansion.
• International Business Development Services International offices including European Office (Hamburg, Germany) and Asia Office (Tokyo, Japan) provide business development and investment attraction services for foreign companies considering Kentucky.
• KEDFA Project Approval Process Monthly Kentucky Economic Development Finance Authority board meetings (last Thursday of each month) consider and approve economic development incentive projects including loan and tax incentive programs.
• Kentucky Opportunity Zones Program Program supporting investment in designated Opportunity Zones in Kentucky, providing tax incentives for qualifying investments in economically distressed communities.
• KY Innovation Entrepreneurship Support Entrepreneurship support initiative providing access to capital, market expansion assistance, business advocacy, investor information, and accelerator/incubator connections for new and growing businesses.

Quantifiable outcome

• $5.7 billion+ capital investment generated from KPDI-funded sites
• +3 more outcomes

Named customers18 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• U.S. Department of EnergycoreStrategic or Co-development PartnerThe Cabinet works with the U.S. Department of Energy on major projects including the Global Laser Enrichment facility in Paducah, which operates under a 2016 contract with DOE to re-enrich over 200,000 metric tons of depleted uranium.
• Kentucky Economic Development Finance Authority (KEDFA)coreOthersKEDFA is established within the Cabinet to encourage economic development, business expansion, and job creation. It provides financial support through loan and tax incentive programs and meets monthly to consider projects.
• Bluegrass State Skills Corporation (BSSC)coreOthersBSSC provides skills training investment credits and grant-in-aid programs to help Kentucky businesses train their workforce. The Cabinet supports this through the Kentucky Skills Network.
• Federal Reserve Banks of St. Louis and ClevelandsupportingStrategic or Co-development PartnerFederal Reserve representatives provide economic perspectives on interest rates, inflation, and monetary policy at Kentucky Chamber Economic Summits to inform economic development strategy.
• Kentucky Chamber of CommercesupportingStrategic or Co-development PartnerCo-host the annual Kentucky Chamber Economic Summit bringing together business leaders, economists, and policy experts to discuss workforce challenges, inflation, and economic trends.

Scale indicators12 records

Recent moves6 records

Expansion highlights2 records

Direct peers

• Georgia Department of Economic Development: Georgia's statewide economic development organization offers parallel services (site selection, QuickStart workforce training, tax credits) targeting automotive, advanced manufacturing, and logistics — directly competing with Kentucky for major capital investment projects.
• Alabama Department of Commerce: Alabama's primary state economic development agency administers similar incentive programs (Alabama Jobs Act, Innovation Depot) for automotive, aerospace, and manufacturing recruitment — overlapping with Kentucky's sector priorities in the Southeast U.S.
• Virginia Economic Development Partnership: Virginia's EDP operates with a comparable mandate for business recruitment, site/building tools, and incentive administration (Virginia Jobs Investment Program), competing with Kentucky for advanced manufacturing and data center/logistics deals.
• North Carolina Department of Commerce: North Carolina's primary state economic development agency administers the Job Development Investment Grant (JDIG) and OneNC programs with a structure very similar to KEDFA; both agencies compete for major manufacturing and clean-energy investments in the Eastern U.S.
• South Carolina Department of Commerce: South Carolina's state commerce agency runs nearly identical recruitment, incentive negotiation, and site-readiness programs targeting the automotive and aerospace industries (e.g., Boeing, BMW adjacent footprint), directly overlapping with Kentucky's portfolio.
• Tennessee Department of Economic and Community Development: Tennessee's primary state economic development agency; offers an analogous toolkit of project management, site selection, and tax incentive programs (FastTrack grants, TVA relationships) targeting the same automotive, advanced manufacturing, and logistics sectors as Kentucky, and competes directly for cross-state deals.
• Illinois Department of Commerce and Economic Opportunity: Illinois' statewide DCEO offers business recruitment, tax credit (EDGE), and workforce programs targeting logistics and advanced manufacturing with the Midwest corridor overlap; both agencies are within one-day trucking reach of major U.S. population centers.
• Pennsylvania Department of Community and Economic Development: Pennsylvania's DCED administers overlapping site development, tax credit, and workforce programs with comparable scope and structure to KEDFA/KPDI, competing for advanced manufacturing and energy investments in the Eastern U.S.
• Indiana Economic Development Corporation: Indiana's quasi-governmental EDC runs comparable business recruitment and incentive programs (EDGE tax credits, READI site development grants) and competes with Kentucky for manufacturing, logistics, and EV/battery investments across the I-65/I-75 corridor.
• Ohio Department of Development: Ohio's primary state economic development agency administers the JobsOhio partnership and similar site readiness, workforce, and incentive programs targeting automotive, advanced manufacturing, and logistics — the same industries Kentucky pursues in adjacent markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/CEDkygov
• Facebookfacebook.com/CEDkygov
• LinkedInlinkedin.com/company/cedkygov
• Instagraminstagram.com/cedkygov

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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M&A

Investments2 records

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Frequently asked questions about Kentucky Cabinet For Economic Development