Economic Development: At the Core of Kentucky I-71 Alliances' Efforts

Economic Development: At the Core of Kentucky I-71 Alliances' Efforts Main Photo

12 May 2023


Setting up a business is a challenge. Managing the paperwork, accounting, and regulations alone can be daunting to an entrepreneur, not to mention the essential capital requirements every business needs to kick-start operations. Where can new business owners turn to get their questions answered?

This is where the Kentucky I-71 Economic Development Alliance (KIEDA) steps in. KIEDA is a regional economic partnership servicing Kentucky's Carroll, Gallatin, Henry, Oldham, Trimble, and Owen counties. It is a valuable resource to help build your businesses or to get help attracting the right talent for your team. 

May is an opportune time to reflect on the importance of regional economic development efforts to build vibrant and sustainable communities, especially with events like National Economic Development Week (EDW) that occur during this time (May 8 to 12). 

Resources to help your business

KIEDA is familiar with business retention and expansion strategies and knows about available sites to meet your business needs. When it comes to economic development, however, it is much more than mere physical site selection or creating jobs in the community. KIEDA’s Executive Director Matt Adkins says, "Most people associate the profession with industry, with the number of jobs created or the amount of private investment that goes into a community. And yes, all of these things are true and very important. But economic development is much more than front-page news articles, smokestacks, and jobs. Economic development also tends to the needs of those who fill those jobs. KIEDA takes a holistic approach to economic development. We consider people to be the greatest asset to a company. So, we pay as much attention to the quality of life needs as we do business recruitment. Creating a strong workforce through education, providing quality housing and childcare, and cultivating a vibrant downtown scene is crucial to recruiting and retaining talent".

On any given day, you will find the staff at KIEDA helping business and community leaders with economic development strategies, discussing workforce development and training options, discussing social media marketing tactics, or just listening to business ideas and offering feedback. 

Solve Problems and Bring Your Ideas to Market 

A successful Economic Development Organization can bring innovation and programs to communities that need to react quickly to a changing marketplace. KIEDA has access to a board of experienced business owners and a network of people who can help to solve some of the challenges presented to a business owner. 

Business Resources at your Fingertips

Businesses in the area can access support resources offered by KIEDA, local chambers of commerce, the SBDC, SBA, and the University of Kentucky. SBDC, for example, provides free help with business planning, market research, marketing, and growth strategies. 

KIEDA Can Help with Workforce Recruitment 

All companies are facing a workforce shortage. Share your job postings or labor requirements with KIEDA, and they can post the openings or direct you to resources and available labor pools. 

You Can Depend on Us for Help Growing Your Business 

In business, it is all about whom you know and finding people to help you succeed quickly. We can help you to make informed decisions that will reduce stress and bring stability to your business. 

KIEDA has served the community for many years and cares about providing opportunity and growth to the I-71 corridor in Kentucky. Contact KEIDA today and find a wealth of information and resources to help your business grow. Ultimately, you will contribute to the community's success and build a better economy. 

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