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Eastern Kentucky investment corporation granted funding to help regional businesses

Kentucky Highlands Investment Corporation
Kentucky Highlands Investment Corporation(Cory Sanning/WYMT)
Published: Sep. 16, 2021 at 8:27 PM EDT
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LONDON, Ky. (WYMT) - For Kentucky Highlands Investment Corporation Chief Executive Officer Jerry Rickett, it all began with a Thursday morning phone call.

“We were selected to receive 1.5 million dollars for a power project,” Rickett said. “The power program is an A-R-C program that works in the coal-impacted counties within their service area.”

His company was granted funding by the Appalachian Regional Commission for what he is calling their EZ/PZ project.

“We’re hoping to create between 400 and 425 jobs through this initiative,” Rickett said. “Our project has four components and it’s going to be implemented over a four-year period.”

Those components include a $650,000 revolving loan, $150,000 to launch their Career Ladder, business assistance and a telework program.

“It enables individuals to work for distant employers,” Rickett said. “So we’re bringing every one of those employees is bringing revenue into the region that works for a major company around the world.”

Rickett said that he could not help but reflect on what he called a good day for his company and the region.

“It was a good day and hopefully our EZ/PZ project will work and we’ll get the results that we hope,” Rickett said. “We’re always looking for employment.”

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