The Cabinet for Economic Development is the primary state agency in Kentucky responsible for
creating new jobs and investment in the state. Programs administered by the Cabinet are designed
to support and promote economic development within the state, primarily by attracting new
industries to the state, assisting in the development of existing industries, 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 Cabinet consists of:
- Office of the Secretary
Responsible for the development and administration of executive policies and for the overall
management of the agency. Staff and administrative functions within the Office include
communication services, legal services, information technology, personnel and
administration, legislative initiatives and special projects.
- Department for Business Development
Responsible for coordinating the recruitment and attraction of new companies that will enhance the
overall viability of the state’s economy, as well as assisting and encouraging job retention and
creation by working with existing Kentucky business. The Department partners with outside agencies
and communities to conduct workshops, community assessments, and business surveys to support local
development efforts. Business Development consists of the Division of International Trade, Division
of Small Business Services and the Research Division. It includes specialists in project management
and site evaluation and is supported by three international representative offices, as well as three
regional offices located throughout the state.
- Department of Financial Incentives
Coordinates all financial assistance, tax credit, and related programs available to business and
industry. The Department consists of the Grant Programs Division, Tax Incentives Program Division, Direct Loan
Programs Division, Program Servicing Division, and the Bluegrass State Skills Corporation.
- Department of Commercialization and Innovation
Responsible for developing and implementing a strategy to create, attract, and assist
knowledge-based companies to Kentucky. Additionally, recommends projects meriting funding through
the high-tech construction pool and the high-tech investment pool to KEDFA.