Congressman Harold “Hal” Rogers announced today that the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund has again selected London-based Kentucky Highlands Investment Corporation (KHIC) to receive a $1 million award. Kentucky Highlands will use the award to make financing available to local businesses and community activities to produce meaningful careers and expand business operations in Appalachia.
“Kentucky Highlands is an invaluable partner toward creating good-paying jobs, spurring business development, and helping entrepreneurs gain the technical know-how and financial backing to turn an idea into reality,” said Rogers. “This grant will help expand opportunities, leverage new investments, and ease cash flow for businesses in southern and eastern Kentucky. Kentucky Highlands not only makes strategic financing available, but helps company officials with the hard work of budgeting, hiring the right people, identifying key growth areas, developing a successful business plan, and formulating a proven marketing strategy. The fingerprints of this organization are widespread and I applaud them on their most recent designation by the U.S. Treasury.”
KHIC was formed in 1968 to stimulate growth and create employment opportunities in southern and eastern Kentucky. Since 2003, KHIC encompasses twenty two counties, which includes the counties of Bell, Clay, Clinton, Cumberland, Estill, Harlan, Jackson, Knox, Laurel, Lee, Leslie, Letcher, Lincoln, Madison, McCreary, Owsley, Perry, Pulaski, Rockcastle, Russell, Wayne and Whitley. Their mission is to provide and retain employment opportunities in southern and eastern Kentucky through sound investments and management assistance.
CDFI was established as a bipartisan initiative through the Riegle Community Development and Regulatory Improvement Act of 1994 to promote economic revitalization and community development through investment and assistance to community development financial institutions, such as Kentucky Highlands. Their mission is to provide credit, capital, and financial services to underserved populations and communities in the United States.
Rogers serves as a senior member of the House Appropriations Committee. Through this role, Rogers supports important initiatives in the Fifth Congressional District.