Posted on 3/3/10
SKED Loan Helps Laurel County Couple Get Their Small Business on the Right Track

LONDON, Ky. - What began as a part-time hobby has developed into a full-time career for one Laurel County couple.

Spending time together working on crafts, picture frames and book shelves, Michael and Penny Casteel enjoyed creating their own gifts for family and friends in their spare time. Soon their hobby had developed into a part-time business and eventually created enough demand for the two to establish
their own business and hire help

The development of what is now Casteel Woodworking was an evolutionary process and one that the still amazes the Casteels.

Beginning in a corner of their basement with a few shop tools and rudimentary drawings, the Casteels have expand ed and purchased new equipment as the demand for their work increased. At the urging of friends and relatives, they began producing trim moulding for home construction. “People were bringing me their own lumber to trim and mould.”

Soon, Michael’s success at his hobby had worked him out of his full-time job with GTE. And the demand for his work was so great he bit the bullet and built a building and more equipment for their flourishing business. With Michael overseeing the daily operations, construction, installation and bidding, Penny used her insurance and banking experience to oversee the financial administration of the business.Read More

Posted on 2/23/10
McCreary Man Investing in His Hometown By Buying Pizza Franchise with SKED Loan

WHITLEY CITY, KY - Cecil Blankenship is passionate about making McCreary County, Ky. a better place to live, work and eat.

The 45-year-old small business owner and Desert Storm veteran says he’s been around the world twice but his heart has never left Southeast Kentucky and Northeast Tennessee where his parents and grandparents grew up and made their living in the retail business.

From ports as north as the North Pole to the sunny beaches of Hawaii, the 13-year U.S. Navy veteran got a taste of what the rest of the world has to offer early in life. Today, Blankenship is ready to settle down and have a family in the only place he’s ever truly called home.

When the opportunity to purchase a Domino’s Pizza franchise came Blankenship’s way in 2008 he saw it as the perfect opportunity to give back to the area he loves and make a living do it.

Blankenship received his chef and food service training in the military. Preparing meals for everyone from first-class personnel to admirals, he learned a thing or two about good service, good food and great persistence.

He’s putting all that experience to work for him in this his first entrepreneurial effort.

But being an entrepreneur is a challenging task and getting a business started in one of the nation’s poorest counties takes twice the courage.

Had Blankenship not taken over the ownership of the business, it would have closed, he said. With his father, Milton Blankenship, Sr. and his wife, Amy, as moral support, he set out to find ways to make his dream happen and buy the franchise.
Read More

Posted on 12/14/9

Corbin Caterer Expanding Her Unique Business With SKED Micro Loan

CORBIN, KY - Becky Warner has taken her mother and grandmother’s family recipes; her father’s work ethic combined the two and built a business around them.

The Whitley County native opened Dinners Made Simple, LLC
in 1,000 square feet of space in the Forest Hills Shopping Center on U.S. Highway 25W in 2006.

For the past three and a half years, the mother of three has worked 12 and 14 hour days cooking, preparing and selling her homemade meals from the store front. She has literally been a one-woman shop sending weary business men and women home with home cooked meals after a hard day’s work.

Her “Take & Bake” meals of Meatloaf, Chicken ‘n’ Dumplings, Farmhouse Chicken and Chicken and Shredded Potatoes, among others, have fed many hungry families over the past years. All meals are packaged in disposable containers, which go directly from freezer or refrigerator to oven. It’s possible to feed a family of four for under $20 at Dinners Made Simple, according to Warner.

"We strive to change meal time at home by providing home cooked, nutritious meals,” said Warner. “We do all the planning, shopping, preparing and packaging for easy cleanup. Time spent in the kitchen is drastically reduced allowing families to spend more quality time together. We provide the highest quality ingredients for all of our recipes.”

Buying 80 pounds of ground beef and making and cooking 40 meatloaves is an average week’s work for Warner. “Meatloaf is our staple,” she said. “People love my meatloaf and come in for it all the time.”

The success of her business and the need for extra help to meet the demand led her to expand the catering business to a full-service restaurant in November. To do that, she needed a bigger freezer, tables, chairs and booths and working capital to hire employees.

Warner heard about the Southeast Kentucky Economic Development Corporation’s (SKED) micro-loan program and was encouraged by friends and family to apply. SKED partnered with Kentucky Highlands Development Corporation (KHIC) to provide her with the funding she needed and put her on the road to growing her business.
Read More

Posted on 12/7/9

SEKRI Expanding its Harlan County Facility, Adding Jobs With SKED Loan
CUMBERLAND, KY - While the U.S. Department of Defense prepares to send 30,000 more men and women to fight in Afghanistan, one local manufacturer is making plans to ramp up its production of fire-retardant shirts that could help spare their lives in the line of duty and put more of Southeast Kentucky’s men and women to work to get the job done.

Southeastern Kentucky Rehabilitation Industries (SEKRI) is expanding operations at its Cumberland facility in Harlan County to increase production of the fire-retardant Army Combat Shirts (ACS). These shirts are made with fire-retardant fabric and thread and are invaluable in a war where troops are frequently subjected to roadside bombs and other flash-fire situations.

The ACS is part of a complete fire-resistant uniform developed in response to the deadly improvised explosive devise (IED) problem and the blast/heat effects of the makeshift bombs, according to SEKRI Interim Executive Director Norm Bradley.

Workers at the Cumberland facility currently ship out 3,000 ACS each week.

SEKRI partnered with Southeast Kentucky Economic Development Corporation (SKED) to apply for a grant from the U.S. Department of Health and Human Services Office of Community Services (OCS) to increase the capacity of the Cumberland facility by providing $600,000 in working capital to purchase inventory and add 40 new employees to the 104-member workforce over the next two years.

SKED was awarded the grant in late October and dispensed the funds to SEKRI in the form of a low-interest loan this month.
Read More

Posted on 11/17/9

East Kentucky Business Thriving with SKED Loan
BUSY, KY - The next time you take a thrill ride on The BeastTM at Paramount’s Kings IslandTM remember this: the heavy-duty bolt fasteners used to hold the seats together were designed and manufactured at a small machine shop deep in the hills of East Kentucky.

From his shop nestled in the hollows of Perry County, Ky., Edwin Bowling oversees the completion of each of his patented Ultra-LokTM bolts before they’re shipped off to suppliers and customers around U.S. and used in all types of machinery. His business model is a simple one: produce the best product for the best price and keep your suppliers happy.

This mountain entrepreneur primarily responsible for the bolt’s design says there’s no better place to produce them. It’s where the idea was born and it’s where he’s happiest.

The Ultra-LokTM is a bolt specially designed to prevent or repair fastener failure due to vibration or loosening over time. The secret is a
hollow space drilled into the bolt that collects the metal shavings rather than pushing them ahead of the bolt as its being screwed. Once installed, it’s the vibration resistant locking system that creates a weld-like joint.

“The fastener system achieves a metal-to-metal thread fit with no play or open space between the fastener threads and the grooves of the nut,” explains Bowling. “The metal shavings collect and are contained in the slotted region on the lead end of the fastener. As the bolt bores into the nut, the metal cuttings compact and increase the locking effect.” 

Ultra-LokTM is currently a supplier to Partsmaster, located in Irvine, Texas, a number of mine supply companies in East Kentucky and the local NAPPA Auto Parts in Hazard.

It was the need for additional inventory and working capital to fulfill a large and specific order with Partsmaster that led Bowling to Southeast Kentucky Economic Development Corporation (SKED) and its low-interest loan programs designed to help region’s small business owners. Read More...

Posted on 11/4/9

SOURCECORP Keeps Jobs in Rockcastle Co., Will Add More MOUNT VERNON, KY - In the wake of a company consolidation, employees at the Mount Vernon, Ky. SOURCECORP facility are not only keeping their jobs but are now operating from a newly-constructed facility in the Rockcastle County Business Park South.

SOURCECORP officials gathered with city, county and state officials at a re-grand opening ceremony there last week to announce the facility’s expansion and the addition of 110 more employees there by 2011.

Kerry Walbridge, Division President of SOURCECORP’s Business Process Solutions Division, told the event’s crowd it’s the region’s workforce and the cooperative efforts of the community that kept the facility and the jobs in Rockcastle County.

He cited the efforts of the Rockcastle County Fiscal Court, the Rockcastle County Industrial Development Authority (RCIDA) and the Rockcastle County Board of Education among those who had worked as a team to keep SOURCECORP there and now ready to grow more.

“SOURCECORP has conducted business in Rockcastle County for over 15 years due to the support of Rockcastle County government leaders and access to high quality employees,” Walbridge told the crowd. “This facility will advance SOURCECORP’s operational capabilities and extend its long-standing relationship with the County.”

The Rockcastle County Fiscal Court passed a 1.5% occupational tax in 2008 to help facilitate the job retention in the county. In addition, the Rockcastle County Board of Education provided training space for the company. In return, Walbridge announced on Wednesday that all improvements made at the high school by SOURCECORP have been donated to the school system.

The new 25,000 square-foot facility was designed for expansion and funded by a grant from the Economic Development Administration. As part of the building’s construction, the industrial park’s entrance is getting a new facelift, with funding from the Kentucky Transportation Cabinet. Read More

Posted on 10/23/9

Small Business Owner Expanding with SKED Micro Loan
BEE LICK, KY - In the small business world, word of mouth is king.

Being a small business owner puts you in control of your own destiny but it doesn’t mean you go it alone. It means you have key partners who work with you to help make your dreams a reality by sharing information, resources and giving references when needed.

No one knows that better than Josh Smith. Today he gets up every day and walks to his business in the metal building near his home at Bee Lick, Ky. and makes decisions that affect his family’s future. But he’s the first to tell you he’s had mentors and along the way and customers whose confidence has opened many doors.

Smith is building his dream with hard work, experience and key contacts.

His story is a familiar one. He learned his trade at a number of machine shops around the region, going to work right after high school in 1992. In 2005, he took a leap of faith and opened his own business in the 576 square-foot metal building he built in his yard. Growing incrementally, Smith has grown Quality Machine, Inc. from a start-up to a thriving business.

“It’s been a good decision but challenging,” Smith said of his business. “It’s getting up every day and making your own way, and I like that.”

From a serene setting at the crossroads of the Pulaski, Lincoln and Rockcastle county lines, Smith provides precision CNC machining for some of the largest manufacturers in the region in a facility that’s grown to 2,400 square feet and filled with machinery designed especially to help him fill his contractual needs. With his wife, Michelle, is by his side handling the paperwork, and a part-time employee on the payroll, Smith is prepared to grow some more.

Smith needed two new CNC machines to increase capacity and acquire larger contracts.

Having financed most of his business on his own, the Rockcastle County native has had little experience with commercial banking but was referred to Southeast Kentucky Economic Development Corporation (SKED) through Kentucky Highlands Investment Corporation (KHIC) another non-profit lender in the region who frequently partners with SKED on projects.Read More...

Posted on 9/29/9

SKED Awarded USDA Grant to Assist Laurel County Business
LONDON, KY - When Jeff Sheppard played basketball for the University of Kentucky, Atlanta Hawks and on the U.S. Olympic team, his philosophy was simple: learn everything he could about the sport, his competitors’ strengths and weaknesses and prepare himself physically to compete against them on the court. Years later, the Georgia native is applying similar skills to build a small business in Southeast Kentucky and he’s scoring some major goals.

Sheppard got his feet wet working for a private label apparel company in Louisville, Ky. in 2002. In 2005, he began taking steps to develop his own business. Sheppard took a giant leap into the small business world in 2006 when he signed papers to separate himself from the larger corporation and go it on his own. In 2007, Sheppard established 15inc his own private label apparel company.

The young father has used the skills he acquired earning his bachelor’s degree in marketing from the University of Kentucky overseeing sales, customer service and management of the company located in Laurel County, Ky.

Along the way, Sheppard has learned from his competitors’ successes and failures, along with a few of his own, as to just how he can apply his own unique expertise to the business and become more competitive, profitable and productive.

Part of that learning curve has involved honing his fiscal skills. And he’s added some skillful team members to ensure his success. Read More...

Posted on 9/2/9

SKED Micro Loan Puts McCreary Co. Business on the Road
WHITLEY CITY, KY - Lonnie Poynter didn’t plan to start a new business venture at this stage
in his life. The declining housing market and economy set those plans in motion for him in 2008.

The McCreary County native spent the last nine years working as a licensed Kentucky home inspector. When the housing market tanked, so did Poynter’s business. Like many baby boomers, Poynter didn’t take this lying down. He set his sights on another career that he hopes will keep him in business for years to come.

Poynter earned his Kentucky pest control license July 1 and has been servicing businesses and homes throughout Southern Kentucky as South Kentucky Pest Solutions ever since.

For the past seven weeks, the Flat Rock resident has been traveling the region using his wife, Debbie’s car. That option came to a screeching halt when he suggested carrying his spray rig in her trunk.

Luckily, the Poynters learned about Southeast Kentucky Economic Development Corporation’s Micro Loan Fund and applied for low-interest financing to purchase a truck, spray rig and the chemical inventory to keep the business moving – literally.

SKED’s Micro Loan Fund is designed to enhance long-term job growth by providing technical assistance to local entrepreneurs and short-term asset financing to small and emerging businesses in rural areas which need assistance in purchasing equipment in Southeast Kentucky. Read More...

Posted on 8/13/9
SKED Certified to Process SBA 504 Loans Statewide
SOMERSET, KY - Congressman Harold “Hal” Rogers (KY-05) announced on Tuesday that the U. S. Small Business Administration (SBA) has approved the certification of the Southeast Kentucky Economic Development Corporation (SKED) as a Certified Development Company (CDC).

This new designation will allow the 23-year-old, nonprofit economic development organization to process and structure SBA 504 loans for businesses statewide.

“The 504 loan program is designed to stimulate job creation and sustain economic development,” said Congressman Rogers. “SKED has already catapulted the creation of more than 10,000 jobs in Southern and Eastern Kentucky. By relieving the burden of start-up costs, the CDC designation will play a key role in forging economic development in our region. Our nation’s recession has forced thousands of families out of jobs and out of their homes. SKED is now offering a true economic stimulus package through the 504 loan program that is helping businesses put families back to work today.”

SKED can now process SBA 504 loans of up to $2,000,000 for small businesses and $4,000,000 for manufacturers or 40% of the total project costs. Working in conjunction with local banks, SKED has the authority to structure SBA financing totaling $10,000,000 for eligible manufacturing companies starting or expanding operations throughout the State of Kentucky.

SKED becomes one of six CDCs operating in the state. SKED staff worked with other CDCs to assist four businesses in its Southeast Kentucky service region to apply and be approved for SBA 504
loans over the past three years. It’s that experience that led to SKED’s application to become one itself.

The application process is rigorous, since only the most sound non-profit lenders are considered for the certification. Read More...

Posted on 7/30/9
Stidham Cabinet, Inc. Expanding in Laurel County
CORBIN, KY – When James Stidham began his cabinet business in 1975, he worked on a SearsTM table saw from his 20x20 square-foot garage. His main concern was making enough money to feed his family and pay his bills. It’s during that time he set a goal of ensuring he provided quality work, good customer service and employed innovative thinking that would keep his small business thriving.

Thirty-five years and hundreds of customers later, the Laurel County businessman makes decisions that affect the families of the 56 people he employs at his now 55,000 square-foot, state-of-the-art manufacturing facility, Stidham Cabinet, Inc., near his home on Nursery Road.

Weathering years of economic growth and downturns, multiple expansions and setbacks, Stidham’s credo remains the same as it was 35 years ago: “I will build the very best product that I know how and will not do anything for someone that I would not be willing to pay someone to do for me,” he said.

By instilling that same credo in his employees and training them to meet those demands, Stidham is looking to expand in what are tough economic times for many manufacturers. “Much of our success can be directly contributed to our ability to change our product line to meet the current market needs,” Stidham explained, “and the fine work ethic of our employees.”

Stidham Cabinet Inc. is a highly diverse woodworking company serving customers in a 250-mile radius. It offers to both wholesale and retail customers a complete range of all wood, laminate and solid surface products. The company provides design and installation services for a variety of projects. Some of its most recent projects include fitting the new Federal Bureau of Investigations (FBI) office in Louisville with moulding and cabinetry and providing cabinetry and casework for the new Forcht Bank in Barbourville. Stidham completed work on its biggest project to date last month when finished a $750,000 residential project.

“Our customers entrust us to design and develop cabinetry and woodworking systems for their homes and offices. We are honored to work to meet that and appreciate their confidence,” Stidham said.
Read More...

Posted on 6/23/9
Presidium Learning Company Expanding in Somerset
SOMERSET, KY – Presidium Learning Company, Inc. is planning to double the size of its facility and workforce in Pulaski County in the coming months, according to a news release from the state Cabinet for Economic Development.

The education services company currently employs 250 workers at its location in the Information Technology Center in Valley Oak Technology Complex, on Highway 461. The facility expansion will allow for an additional 200 employees to be hired in the coming months, officials said.

Presidium, a provider of 24-hour, seven-day-a-week contact center services for the education industry, located in Somerset in 2006 with the initial goal of hiring 30 employees.

SKED owns the Information Technology Center and assists in marketing Valley Oak Technology Complex.
Read More...

Posted on 6/11/9
Southeast Telephone Expanding Broadband to Letcher County

PIKEVILLE, KY - Darrell Maynard’s ancestors settled in Pike County in 1790. His roots are there, and it’s where he’s built his business. You might say SouthEast Telephone Company’s foundation is his love for the region and its people. Maynard calls it progress. Progress in a place where it’s needed most.

The Pikeville native has been working to provide much-needed telecommunications services in the region for years. He established SouthEast Telephone Company (SouthEast) in 1996 with the goal of making it the premier hometown telephone company for all East Kentuckians.

His nearly 20 years of experience in telecommunications services and equipment led him to believe it was a natural progression
of the business to offer complete services to customers who previously had only national corporate entities to serve the local consumer market. Potential customers were aplenty in the mountains of East Kentucky.

SouthEast provides local telephone service, long distance, Internet and paging products for residential and business customers in a 50-county service area. It’s the ability to provide professional and reliable service with a hometown touch and having your neighbors do the work that has made SouthEast the successful business it is, Maynard explains. Customers can call the Southeast office and have a “live” person answer to help them, rather than an automated system.

Maynard put his dream to work and has hired hundreds of his neighbors to get the job done.

“I saw the need for high tech jobs in East Kentucky,” Maynard said. “And I’ve worked to develop and educate our labor force here so that they would be able to work in technology.”

Today, SouthEast employs more than 200 people. Jobs range from software programming to inside and outside sales and call center operators. Its customers number some 36,000 throughout East and Central Kentucky.

But there’s more work to be done. His most recent project will ensure that more than 800 previously underserved households in Letcher County have access to Internet broadband service.

Read More...

Posted on 1/12/9
Tin Man Manufacturing Bringing New Jobs to Lincoln County
WAYNESBURG, KY – New jobs are coming to Lincoln County, with some help from the state.

Tin Man Manufacturing, LLC will produce rolled steel for roofing panels as well as parts and trusses for the commercial building and construction industries from its new location in the Stanford-Lincoln County Industrial Park. The startup company will create 34 jobs over a two-year period with an emphasis on hiring low to moderate income individuals, according to a news release from the state.

Gov. Steve Beshear, in conjunction with the Department for Local Government, announced a $680,000 Community Development Block Grant (CDBG) to support the new manufacturer in December. The Lincoln County Fiscal Court will use the funds to purchase equipment for a capitalized lease to Tin Man. The company will sell to clients located within a 1,000 mile radius of its location.

“I’m pleased to award this grant to help Lincoln County attract a new company and it is especially satisfying that it will be locally owned and operated,” said Governor Beshear. “I applaud the Lincoln County Economic Development Authority and the fiscal court in their ability to build on this successful relationship.”

Read More...

Posted on 12/9/8
Oregon-Based Food Processor Brings Jobs to Laurel County
EAST BERNSTADT, Ky. – Next time you pop open a Nustrisystem™ meal you’ll be helping the Laurel County economy.

Oregon-based Truitt Bros., Inc. has officially opened its new facility at East Bernstadt where it will produce Nutrisystem™ diet meals, along with some 200 other prepared, prepackaged meals for distribution to retailers across the nation. The 35-year-old food processing company’s expansion here has put 125 of the region’s residents to work at a time when they’re needed most.

Real-life Truitt brothers and owners David and Peter Truitt greeted the Laurel County community personally welcoming them into their new location at a ribbon-cutting ceremony last week. More than 100 state, local and regional officials gathered to welcome the new business to the region, learn about its history, philosophy, plans for future expansion in Kentucky and sample some of its products.

The Truitts found the former Gordon Food Service distribution facility, located on US25, to be a perfect fit for the expansion. Its location, available workforce and rack-ready warehouse space gave the Laurel location the edge, officials say. Read More...

Posted on 11/18/8
SKED Loan Helps Orthopedic Surgeon Grow His Practice

MIDDLESBORO, Ky. – Much like the Magnetic Resonance Imaging (MRI) technique he uses to help patients diagnose medical conditions, Dr. Ronald Dubin, MD, visualizes the structure and function of a project before he begins it. Take one look at this 56-year-old orthopedic surgeon’s current and previous accomplishments and you’ll agree he’s developed a keen eye for success in both his professional career and personal goals.

His most recent project is the expansion of medical services offered at the Kentucky Orthopedic Clinic. He founded the practice in Middlesboro, Ky. in 1987 and later expanded to nearby Corbin, Ky. in 2003. Dubin has put 23 people to work at the two clinics and is looking to hire more, as part of the current increase in technological advancements there.

Dubin oversees both 15,000 square-foot facilities, which focus on the diagnosis, treatment, and prevention of musculoskeletal disorders. The Corbin office is a state-of-the-art MRI facility he hopes will revolutionize the early detection of a full array of diseases, injuries, and disorders with scanning resolution well surpassing industry standards.

But it’s during the 45-mile drive on US25E between Middlesboro and Corbin that Dubin spends time contemplating his future, his patients’ best interest, and how his talents can best positively affect the lives of the people of Southeast Kentucky. It’s his goal to combine all of the above to make the region a better place to live and work.
Read More...

Posted on 10/30/8
Greensburg Couple Opens New Auto Care Business
GREENSBURG, Ky. – When walking through the door of Goff Auto Care and Wholesale Tire, customers are welcomed with a warm smile, a firm handshake and an assurance they’ll be taken care of there. It’s not your typical auto service center. It is what Darrell and Marcy Goff have worked hard to create with their new small business investment in the community they love.

The Greensburg, Ky. couple has spent much of their adult lives working to make their hometown a better place to live and work. They’ve each played pivotal roles in Green County’s youth sports leagues, the board of education and their church, among other volunteer efforts.

Together, they’ve built a rapport with the community’s young and old, while working full time and raising their own family. Their common goal has been to ensure that residents of this quaint, south-central Kentucky farming community experience good quality of life.
Today, these Greensburg grandparents are taking their longtime experiences and investments and putting them back into the place they call home by offering a much-needed service and new jobs to help provide it.

The Goffs opened Goff Auto Care and Wholesale Tire in September. This new business is the only complete tire store, auto and farm service provider in the county, offering services residents once had to go across the county line to receive. They’re also creating 10 new jobs in the community.
Read More...

Posted on 10/14/8
SKED Awarded Grant to Assist Russell County Manufacturer
RUSSELL SPRINGS, KY - Southeast Kentucky Economic Development Corporation (SKED) has been awarded a $400,000 grant to assist a Russell County manufacturer it helped recruit seven years ago to fund its current expansion and job creating efforts.

First District Congressman Ed Whitfield (R-KY) has announced that the U.S. Department of Health and Human Services/Office of Community Services approved SKED’s grant application. The funds will be loaned to BRUSS North America, Inc. to provide working capital for the expansion of its operations in the Russell County Business Park. As part of the funding requirement, BRUSS NA will create an additional 40 jobs in Southeast Kentucky.

Read More...

Posted on 10/14/8
SKED Hires New Small Business Development Specialist
SOMERSET, KY – A Pulaski County man with East Kentucky roots is the newest addition to the staff of Southeast Kentucky Economic Development Corporation (SKED).

William Ronald (Ron) Cain II will return to East Kentucky to live and work as SKED’s new Small Business Development Specialist.

Cain brings 25 years of lending and small business experience to SKED. He was previously employed at a number of different lending institutions and owned two small businesses of his own.

The University of Kentucky graduate and former UK football player has been hired to provide technical assistance to aspiring entrepreneurs and information on direct loans to small business owners in East Kentucky.

He can be reached by calling (606) 875-3429 or e-mail at rcainqb@yahoo.com.

Read More...

Posted on 9/30/8
SKED Loan Keeps Tourists Rolling Into Stearns
STEARNS, Ky. – Tourists travel from across the nation and around the world to ride on the Big South Fork Scenic Railway (BSFSR) in Stearns. Its trains carry some 30,000 passengers annually along the 16-mile trek through the Daniel Boone National Forest, bringing hundreds of thousands of tourism dollars into the region and employing 20 local residents.

Its success has been instrumental in building the county’s tourism industry over the past 20 years.

The BSFSR is expanding and recently added a new locomotive to its fleet, thanks to a partnership with Southeast Kentucky Economic Development Corporation (SKED).

The McCreary County Heritage Foundation is a nonprofit corporation formed to preserve and interpret the county’s rich history. BSFSR is one of its entities. SKED is a nonprofit organization formed to promote economic development and enhance job creation in 42 counties in Southeast Kentucky, including McCreary. Direct lending is one facet of its mission.

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Posted on 9/9/8
Floyd Industries Wins Excellence in Entrepreneurship Award
SOMERSET, Ky. – Brothers Brian and Scott Floyd, of Liberty, Ky., were selected winners at the 2008 Excellence in Entrepreneurship Awards of Eastern and Southern Kentucky this week.

The Floyds won the award for their business, Floyd Industries, LLC, in the Start-Up Business Category at an awards ceremony held Monday, September 8, 2008 at The Center for Rural Development in Somerset, Ky.

The Casey County natives say the award is gratifying for them and will dedicate it to their father, Wayne Floyd, owner of Floyd Gate Company, Inc. It was Wayne who taught them the business and trained them to be the entrepreneurs they are today, they say.
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Posted on 9/9/8
SKED Receives HUD Funding to Assist McCreary Business

WASHINGTON, DC – Congressman Harold “Hal” Rogers (KY-05) announced this week that the U.S. Department of Housing and Urban Development is awarding $300,000 to the Southeast Kentucky Economic Development Corporation (SKED) to help a local business increase its manufacturing capacity and create 30 jobs in McCreary County.

SKED will utilize these funds to assist Stearns-based Outdoor Venture Corporation with a loan for the equipment and working capital necessary to support a new facility to manufacture tents used commercially and by the U.S. Department of Defense (DOD).
Read More...

Posted on 8/26/8
Regional Business Park Cuts Ribbon on Spec Building
CORBIN, Ky. – The Southeast Kentucky Regional Business Park was one of the first of its kind when it was developed in 1999. Today it’s leading the way again, as members roll out a new marketing effort designed to bring more attention to the park, its new speculative building and ultimately more jobs to the region.

Fifth District Congressman Harold “Hal” Rogers was on hand this month at a ribbon-cutting ceremony for the Authority’s second speculative building and the announcement of its new high-tech marketing plan
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Posted on 8/26/8
Greensburg Business 'Hits the Road' with SKED Micro Loan
GREENSBURG, Ky. – Raymond “Lew” Edwards found a new and unique product to add to his concession business earlier this year. All he needed was someone to help him “get it on the road.” He found the answer at SKED.

The Greensburg native has been operating Sorbet Source South, LLC, as a sub-distributor of Island Way Concessions-North America, since February. It’s a family business that keeps Raymond and his son-in-law on the road on weekends at festivals and fairs.
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Posted on 8/12/8
Plans for Energy Park in Pike County Progressing
PIKEVILLE, Ky. – As the nation’s yearning for energy independence becomes more of a necessity than a desire, some of East Kentucky’s federal, state and local leaders are looking for answers in the hills and hollars and they’re not disappointed with their findings.

Research and development into two key projects in the state’s eastern-most county took on new life Monday when Fifth District Congressman Harold “Hal” Rogers toured sites designated for potential energy projects deep in the coal-rich hills of Pike County. Read More...