Eastern Kentucky investment corporation granted funding to help regional businesses
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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