Kentucky is one of seven states to be selected by the National Governors Association (NGA) Center for Best Practices to participate in a yearlong initiative designed to increase economic development and entrepreneurship.
The states participating in the State Strategies for Promoting Innovative Clusters and Regional Economies program – which include Georgia, Illinois, Iowa, Maryland, Oregon and West Virginia – will have the opportunity to learn about new research, promising practices and state policy options related to cluster-based and innovation-led economic development.
Clusters are groups of businesses and related institutions that derive economic advantages from being near one another. Clusters can boost a region’s economic capacity and entrepreneurship, as well as improve employment and wages, so states can benefit from designing policies that promote them.
Kentucky Economic Development Secretary John Hindman said NGA’s experts will help identify common threads and overarching recommendations to help guide the state shape its economic development policies. The Kentucky team will focus on improving workforce education and skills and encouraging entrepreneurship.