SKED Annual Report:
Forging Opportunity in 2024
Welcome to the SKED 2024 Annual Report. Throughout, you’ll see stories of people who have worked hard to grow their businesses and communities. SKED works throughout the region to find solutions to problems, create jobs and wealth.
Brett Traver
Executive Director
SKED’s 2024 impact: Growth, Job Creation & Investment
A letter from Executive Director Brett Traver
Thank you for taking the time to read the SKED 2024 Annual Report. This year brought a lot of change and growth to the organization. During the past year, SKED made 54 loans totaling $8.7 million to 24 Southern and Eastern Kentucky businesses. These loans led to an additional $32.2 million investment in the region. These business loans created an additional 106 jobs and retained 409.
We brought on new SKED staff to make this happen. I want to introduce Victoria Taylor as our new small business training specialist. Victoria comes to us from Texas and brings a wealth of experience in small business and training. This role opened up because Kyle Smith was promoted to our Manager of Impacts, Investment and Operations. To help us meet our growth and impact goals, SKED needed someone who understood our organization and had the ability to pull it together to document the impacts we’re having in the region.
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SKED’s Board of Directors also saw some changes in 2024. Kentucky Power Economic & Business Development Manager Amanda Clark joined our Board after Ashland Alliance President Tim Gibbs took a new role in New Mexico, leaving a vacant position. Amanda has made a quick impact as we worked together to help make Infinity Design and Construction’s new Floyd County facility a reality.
SKED’s Supplier Education and Economic Development (SEED) program wrapped up its eighth year by holding our Contracting Symposium in October at The Center for Rural Development in Somerset. This event brought together two dozen Eastern Kentucky companies to meet with federal contractors from Boeing, Raytheon, Hendrickson, General Dynamics and many others.
Since SEED’s inception nine years ago, companies in the program have invested more than $74.8 million, more than 800 workers have been trained and more than 628 jobs have been added to the region. While our Appalachian Regional Commission (ARC) grant wraps up this year, SKED and our partners will continue working with the region’s small—to medium-sized manufacturers and making connections to help companies grow.
Throughout this report, you’ll see stories of people who have worked hard to grow their businesses and communities. SKED works throughout the region to find solutions to problems, create jobs and wealth.
SKED: Serving 45 counties across Southern and Eastern Kentucky since 1986.
We help businesses large and small find innovative solutions that inspire growth.
199 Jobs WERE created by SKED Programs in 2024.
68
FROM SEED
106
FROM LOANS
25
FROM RECRUITMENT
SKED and SBDC Grant Expanded Childcare in 2024
SKED and the Kentucky Small Business Development Center (SBDC) received a $300,000 grant from the Truist Community Catalyst Initiative in 2024. The grant is being used to increase access to childcare services for low- and moderate-income families, with a focus on women-owned small businesses throughout Kentucky.
The Kentucky SBDC Childcare Initiative is a statewide project that is designed to leverage the resources and expertise of the Kentucky SBDC, combining it with SKED’s proven training framework, to design and implement new programs that support the growth and sustainability of childcare providers, enabling them to grow and meet the needs of the commonwealth’s most needy children.
This is SKED’s first funding partnership with the Kentucky SBDC and one that is developing new projects, training small business owners and providing more childcare options to the caregivers of children across the commonwealth today and for years to come.
Pictured left to right: Jennifer Leach, Truist; Michelle Spriggs, Kentucky SBDC (Eastern KY); Scarlett Consalvi, Kentucky SBDC and Amanda Kelly, SKED.
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“We are thrilled and deeply grateful for the generous grant from the Truist Community Catalyst Initiative, which empowers SKED and our partners at the Kentucky SBDC to spearhead the Kentucky SBDC Childcare Initiative,” said SKED Small Business Training Director Amanda Kelly. “This statewide endeavor fills us with excitement as we pioneer innovative programs, ensuring the growth and sustainability of childcare providers. This grant fuels our passion to create lasting economic impacts in the Commonwealth of Kentucky.”
The Kentucky SBDC is the lead agency in the initiative’s planning and disbursement.
“The Kentucky SBDC is excited to work in partnership with the Southeast Kentucky Economic Development Corporation, through the grant provided by the Truist Community Catalyst Initiative, to help benefit small businesses operating in the childcare sector across Kentucky,” said Kentucky SBDC State Director Kristina Joyce. “With this support, the Kentucky SBDC is committed to delivering targeted assistance to entrepreneurs in the childcare industry.”
“We aim to provide them with the essential resources to help them grow and thrive. We recognize the critical role childcare services play in our communities, supporting both working parents and early childhood development. Through this partnership, we are not only bolstering the childcare industry but also strengthening the backbone of Kentucky’s economy – our small businesses. Together, we will create a more prosperous future for Kentucky.”
The initiative’s goal is to support and collaborate with the core childcare partners in Kentucky, including Kentucky Youth Advocates, the Prichard Committee for Academic Excellence, Childcare Aware of Kentucky and the Family Childcare Network of Kentucky. By collaborating with these partners, the initiative is working to improve the economic well-being of the commonwealth’s children and the availability of childcare services.
The program is working to address these issues by expanding the number of childcare spots and supporting individuals in opening their childcare businesses. It also aims to enhance the quality of existing childcare facilities which will improve kindergarten readiness and benefit both children and parents in Kentucky.
Some of the assistance this initiative will offer childcare providers include Start-up Support, Financial Management, Operations and Compliance, Marketing and Enrollment, Training and Professional Development, Early Childhood Education and Business Skills Enhancement.
The Truist Community Catalyst Initiative is a three-year program supporting local initiatives with statewide impact funded by the Truist Charitable Fund, a donor-advised fund administered by The Winston-Salem Foundation.
“It cannot be understated the importance that the childcare industry plays in the success of children’s development, as well as the current and future state of Kentucky’s workforce by enabling parents – especially mothers – to participate,” said Calvin Barker, Tri-States regional president for Truist. “Our grant to SKED and the Kentucky SBDC will provide the training and skills coaching that entrepreneurs and small business owners need as they enter and expand a critical industry for our state.”
Amanda Kelly
Small Business Training Director, SKED
“This statewide endeavor fills us with excitement as we pioneer innovative programs, ensuring the growth and sustainability of childcare providers. This grant fuels our passion to create lasting economic impacts in the Commonwealth of Kentucky.”
$75M Invested, 628 Jobs Created Through SEED in 2024
Boosting Federal Contracts for Eastern Kentucky Manufacturers
Winston Crawford is getting contract work from the federal government thanks to the Supplier Education & Economic Development (SEED) program and its annual contracting symposium, which connects local manufacturers with federal and regional supply managers.
Crawford, owner of Limestone Manufacturing in Somerset, is one of nearly two dozen Eastern Kentucky advanced manufacturers who participated in SKED’s Sixth Annual Eastern Kentucky SEED Symposium in October 2024. During the full day of events, local representatives met with some of the world’s biggest prime defense contracting officials to build connections that lead to growth and new work for their businesses.
The event, held at The Center for Rural Development in Somerset, is the culmination of months of training, preparation and certifications, getting robotics and automated machinery developers, metal stamping, 3D printing designers and others ready to meet and sell themselves as potential suppliers to the defense industry.
SKED and its SEED partners, Kentucky Manufacturing Extension Partnership and KY APEX ACCELERATOR, work with these same manufacturers and continue to recruit new ones throughout the year, preparing them for the symposium.
Somerset Community College Additive Manufacturing Project Manager Andrew Clapper, left, met with dozens of professionals interested in the products his program designs and produces at the event.
seed’s impact in eastern kentucky
68
jobs created by SEED
98
jobs retained by SEED
Congressman Hall Rogers
Dean of the House
“The SEED Symposium opens the door of opportunity to show off our skills here in Kentucky’s Appalachian region. We have the best workforce in the country, coupled with innovative manufacturers that are becoming certified and qualified for competitive federal contracts.”
2024 Stories of note from SKED partners
Infinity Opens in Eastern Kentucky
Infinity Design & Construction expanded its Kentucky presence into Eastern Kentucky in 2024, developing the only pipe fabrication company in the region and creating 36 new jobs. READ MORE
Community Takes Good Practice
Somerset, Ky.
Dr. Brandon Goodpaster wanted to move his chiropractic practice and young family to a thriving southeast Kentucky community where they could flourish. He found that in Somerset, Ky. READ MORE
A Fresh Take on Family Tradition
Mount Vernon, Ky.
McCauley Egg Company is more than a thriving Kentucky-based business. It’s a family tradition that Jesse and Leslie McCauley are working to preserve for future generations. READ MORE
Business blooms at Bent Pine Farm
How one Whitley County couple redefined retirement by transforming their one-acre flower farm into a thriving enterprise.
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Wayland’s First Ever Pharmacy
Wayland, Ky.
Route 7 Pharmacy Establishes Essential Healthcare Services in Eastern Kentucky after devastating floods.
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More to Love in downtown harlan
Harlan, Ky.
Henry’s Souvenirs and Gifts opened in November 2024, the second business owned by the Collins family.
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Narrowing our FOCUS in 2024
Job creation and infrastructure improvements were at the forefront of FOCUS Executive Director Tal Jones’ work in 2024.
Jones worked with Jackson County business manager Shaun Hays to locate a building in the Annville Park for Ball Industries — a small, advanced metals manufacturing specialty business. Two employees were hired initially, and the company plans to expand to 10 when fully operational. A purchase option was executed with Bear Precision Coatings on Lot 2 of Annville Park for a planned 40,000-square-foot expansion and the expected hiring of an additional 35 employees.
Jones completed an application for the Elk Mountain Regional Park in Clay County to receive a 2024 Kentucky Product Development Initiative (KPDI) program for $2 million to extend current water, wastewater, electrical and natural gas lines to a previously undeveloped area of the park. In 2024, the park sold a tract to the State of Kentucky for a road salt storage facility.
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He also worked to acquire the certification of the first KPDI ‘Build-Ready site’ in Jackson County. The site, located at the Jackson County Regional Industrial Park, has a 140,000 square-foot concrete slab on more than 17 acres. A second KPDI grant application was submitted to construct a 50,000-square-foot speculative building on that existing slab that formerly housed a company named Mid-South Electronics.
Jones also assisted in providing incentives to Laurel Exchange, LLC through the Kentucky Cabinet for Economic Development’s incentive opportunities. The company plans to locate a data storage center in the Elk Mountain Regional Industrial Park on land that it has previously purchased.
FOCUS continues to collaborate with SKED staff on opportunities for contract manufacturing and with clients through its Supplier Education & Economic Development (SEED) Eastern Kentucky Contracting Symposium.
SKED’s Small Business Training Team worked with small business owners in the FOCUS region, providing technical assistance with expertise shared on digital media marketing, AI, business plans and capital needs. A key collaborative relationship has been established with the Jackson County Public Library to assist in this training.
The FOCUS Board of Directors and Jones made significant strides in developing infrastructure, organizing collaboration and developing industrial location options in the FOCUS region of Jackson, Clay, Lee, Leslie and Owsley counties.
Construction of Kentucky Highway 30 was substantially completed, allowing communities much-improved transportation from I-75 through Jackson, Owsley and Lee counties.
Infrastructure, primarily concerning water supply, was previously identified as a critical need in the region.
State legislators addressed the enormous tourism projects in the Red River Gorge area. They used a state budget surplus to add numerous line-item funding projects in all FOCUS counties, resulting in the following allocations.
Beattyville (Lee County) received $6,272,500 for water line extensions, capacity and metering upgrades.
Jackson County was awarded $7,500,000 to develop water line extensions for Highway 30 business development. It also received state funding of $4 million for a community park in Mckee. In addition, the City of Mckee won a $30,000 Trail Town grant.
Booneville (Owsley County) was given $2,933,000 for water line extensions and metering upgrades. The community is developing a splash park with an $85,000 grant.
Clay County received $2 million for water line extensions, and the City of Manchester won a $30,000 Trail Town Grant. Clay County Campground won $27,000 in grant funding. Clay County was also awarded $10 million in funding for several economic development efforts in collective downtown development projects and federal funding for a fast-charge electric vehicle facility.
Leslie County was awarded $3.4 million for a natural gas line, and the City of Hyden won a $30,000 Trail Town grant. Leeco Park (an adventure tourism facility) being developed was awarded $2 million.
Previous grant-funded objectives for the Jackson County/Mckee Industrial Park were completed for engineering and geotechnical assessment, resulting in “build ready” certification of a building site currently featuring a concrete slab in place.
FOCUS grant funded provided 80 percent of the draft plans and preliminary engineering fees to the Jackson County/Mckee Industrial Development Authority. A wastewater package treatment plant project to accommodate additional needed volumes was developed and a subsequent application for state Appalachian Regional Commission (ARC) funding was submitted to the Kentucky ARC by a collaborative relationship with Cumberland Valley Area Development District concurrently with already approved required matching funding for the local match. Both of these project grant applications are anticipated to be approved in Spring 2025.
The Elk Mountain Regional Industrial Authority, which serves Clay and Leslie counties, was approved for the $1 million KPDI grant applied for in 2023 addressing volume and pressure upgrades to the community’s water infrastructure are currently under construction.
Tal Jones
Executive Director, FOCUS
“My intentions and goals at FOCUS are all centered on making the best case for our region, its population and the prosperity our collective efforts deserve. I never feel shorthanded, undeserving, or entitled in my efforts to improve the region with the support I receive from the citizens, local leaders and these two motivating entities.”
Learn more about Focus.
Thank you for reading the SKED 2024 Annual Report.
SKED thanks the following funding partners for their assistance in 2024:
Appalachian Regional Commission
U.S. Department of Agriculture
Rural Development
U.S. Department of the Treasury
Community Development Financial Institution Program
Commonwealth of Kentucky
Cabinet for Economic Development
Economic Development Administration
U.S. Small Business Administration
Microloan Program