Home » ‘Collaborative Blueprint’ initiative is new tool for Ky. economic developers brings together

‘Collaborative Blueprint’ initiative is new tool for Ky. economic developers brings together

Statewide partners positioning commonwealth for further growth in the years ahead

FRANKFORT, Ky. — State officials today publicly released a 118-page report created as guidance for the economic growth and community development community statewide to maintain the momentum of the past few years when Kentucky has seen the greatest successes in commonwealth history.

“There is no denying the incredible economic success we have had over the past four years, with the most private-sector investment of any administration and several of the largest job-creation projects on record,” Gov. Andy Beshear said. “But we recognize there is still so much more we can achieve as a state, and the Collaborative Blueprint will help us navigate our future. We at Team Kentucky know what we can accomplish, and we will continue to work together to ensure we get there.”

The publication is called “Collaborative Blueprint created by and for Kentucky’s Economic Developers” and presents background information, guidance and strategy compiled from a statewide initiative led by Team Kentucky with input and support from partners across the commonwealth. The effort brought together economic developers and other stakeholders from around the state to determine the best path forward for Kentucky as state, regional and local leaders look to build on the best period for economic growth in the commonwealth’s history.

With support from The Governor’s Office, the Kentucky Cabinet for Economic Development partnered with the Kentucky Association for Economic Development (KAED) and engaged consulting firm McKinsey & Co. to develop a blueprint that economic developers and their stakeholders could follow to spur growth in Kentucky over the next five years.

The Collaborative Blueprint was developed following outreach conducted by Team Kentucky throughout the past year, including surveys, interviews and virtual workshops with partners statewide as well as five regional in-person and cross-functional workshops located throughout the commonwealth.

The blueprint highlights the ways economic developers play a leading role in identifying and delivering on specific opportunities, such as strategies around site development, incentives and priorities for Kentucky’s unique but interconnected communities. It also emphasizes priority sectors and enablers that will help realize growth within those sectors. The priorities reflect how Kentucky’s diverse communities can contribute and collaborate to ensure the commonwealth furthers recent success and generates even more economic growth statewide.

Priority sectors include automotive; manufacturing; natural assets; business, financial and professional services and investing in high-potential opportunities. Areas defined as priority enablers are competitive products; workforce; entrepreneurism and innovation; infrastructure and placemaking.

Cabinet for Economic Development Secretary Jeff Noel said these categories set the foundation to capitalize on the record economic success of this administration:

“These priority areas are essential to help guide our decision-making as economic developers as we look to take that next step and move the commonwealth forward,” he said. “Not every priority will be a perfect fit for every community, because every community has its own goals, challenges and advantages. That diversity is what makes Kentucky so special, but it is also why this blueprint is so important, so we can align on a vision for what success looks like and to help shape an even greater future for all Kentuckians.”

Haley McCoy, president and CEO of KAED, said the effort highlights the spirit and collaboration that has created the current economic momentum:

“KAED is appreciative to partner in this critical initiative for Kentucky. A blueprint that is both by and for economic developers embodies what our organization is about,” she said. “Our commonwealth is blessed with innovative thinkers, regional diversity in resources and core competencies, as well as a collaborative spirit that has led to stronger partnerships and communication throughout this process. We look forward to using this good work to carry our economic development success well into the future.”

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