Last week, London-based venture capital firm Kentucky Highlands Investment Corporation (KHIC) broke ground on a LEED-certified business incubator space, aimed at providing support for new and small business to grow in Kentucky. The Business Innovation and Growth Center is home to over 9,000 square feet of office and project development space, for use by up to 16 enterprises—expanding the capacity of the current incubator space, which has room for a maximum of three companies. KHIC expects the incubator “will assist 16 businesses, help create 127 new jobs and generate $6 million in private investment during the first five years”.
“Most jobs in this country are created by small businesses,” said Jim Carroll, director of the BIG Center. “And, the jobs least likely to move to another state or country are the ones that are homegrown. This program will stimulate innovation and creativity to motivate young entrepreneurs and experienced business leaders to establish companies and create jobs here in Kentucky.”
KHIC’s existing incubator space has graduated four companies that now employ more than 30 people in the area. Additionally, the training sessions offered by KHIC have educated over 500 people in the last three years.
KHIC was established in 1972 on “the basic premise that significant reduction in poverty in the area could not be achieved without economic growth”.
See also, the Times Tribune story: http://www.thetimestribune.com/local/local_story_018085606.html