SPEDA breakfast series brings leaders together to network and share ideas
Industry leaders had the opportunity to learn what resources are available to them through the Kentucky Cabinet for Economic Development last week at SPEDA’s Industrial Leaders Breakfast, a quarterly initiative that brings business leaders together to discuss needs and share ideas.
“Just as SPEDA plays a role locally in supporting companies in the community, the cabinet plays that role across the state — and communicating how both of our organizations can help businesses grow and thrive is critical to that mission,” SPEDA President and CEO Chris Girdler said. “We believe in seeking valuable feedback, listening to constructive criticism and helping businesses where we can at every turn. Our industrial leaders breakfast is a platform for making this happen.”
Kristina Slattery, deputy commissioner for the Department for Business Development, was the event’s guest speaker, sharing more about the cabinet’s role, what programs are available to help Kentucky businesses, and trends that are developing within the economy.
“It’s imperative as a community of our size and with things that we’re undertaking that we have a good working relationship with the folks at the cabinet,” SPEDA President and CEO Chris Girdler told the group gathered Wednesday at the Lake Cumberland Farmers Market. “Kristina has a lot of experience in the cabinet and working in many various levels there, and she also has a lot of experience in the private sector before joining the cabinet. As you all know, I think the private sector experience means more than anything because you know those trials and tribulations that the business world goes through, then you can take those experiences on to the cabinet to help others.”
In addition to recruiting new jobs and investment, Slattery said the cabinet focuses on retention and expansion, providing programs and incentives for existing businesses, and advocating for businesses to education partners at the state level to help find workforce development solutions.
She shared that Kentucky had a record year in 2021 in recruitment, with the announcement of a major electric vehicle battery manufacturing project in Hardin County and growth in the food and beverage industry. Four of Somerset-Pulaski County’s major announcements last year — Horse Soldier Bourbon’s $250 million distillery experience, AppHarvest’s 30-acre indoor farm, Conner Logistics Inc’s headquarter relocation and Continental Refining Company’s $26.8 million soybean crushing facility — contributed to that growth, Slattery said.
Slattery commended the leadership in Somerset-Pulaski County for helping make these investments a reality and recognized SPEDA for becoming a statewide leader in economic development.
“To see that in the community … those are new jobs, those are new people adding revenue to the system, that’s new property tax being generated, new sales tax being generated, more taxes for our school districts, so we’re excited to see those new investments continue to come,” she said.
Slattery shared several incentive programs available to businesses, such as the Kentucky Business Investment Program, which provides income tax credits and wage assessments to specific categories of businesses. She also shared the Product Development Initiative grant program, a partnership between the cabinet and the Kentucky Association for Economic Development that provides competitive grants to Kentucky economic development organizations and local governments to supplement site and building improvement projects.
She also shared information about public services available through the cabinet, like site evaluation services, detailed community data, financial package preparation and public announcement coordination.
“We are a public service agency and we want to be here to serve our community,” Slattery said.
The next SPEDA Industrial Leaders Breakfast is being planned for the third quarter of the year. Details will be announced in the coming weeks.