2009 Economic Development Forecasts
Lee T. Todd Jr.
President, University of Kentucky
Chair, Board of Directors and Executive Committee, National Association of State Universities and Land-Grant Colleges (NASULGC)
“This is a crucial year for the Commonwealth of Kentucky. With a weak national economy and states across the nation dealing with shrinking revenues, I see 2009 as an opportunity for Kentucky to make up ground on the competition. This is an ideal time for us to invest in education and companies that are commercializing university-generated intellectual property. UK will continue to build on existing partnerships in the year ahead, ensuring these initiatives remain a top priority.”
Jim Newberry
Mayor
Lexington/Fayette County
“We have focused the city's economic development efforts on the three sectors with the most potential for economic growth, horses, healthcare and high-tech. There is a growing recognition of the importance of these industries to our economy because growth is generally continuing in these sectors, despite today's economic climate.
As expected, the national recession has had and will continue to have an impact locally.
However, our community is more fortunate than many because of our diverse economy, the presence of the University of Kentucky and the high quality of life we enjoy. Our award-winning Bluegrass Business Development Partnership, combining the economic development initiatives of the city, the University and Commerce Lexington, continues to make progress in attracting and creating new business in Lexington and in supporting existing businesses."
Bob Quick
President and CEO
Commerce Lexington
“While the national economy continues to be a focal point for Americans, Lexington and Central Kentucky has shown signs of resilience. Our area benefits from a diverse economy and well educated workforce – both of which give us a strategic and valued advantage for business and industry. In 2009, Lexington will continue to build on its recent rankings as the 5th Best Place for Business and Careers (Forbes) and the 2nd Most Educated Workforce (Business Facilities).”
Len Heller
Vice President, UKCED
CEO & President, Kentucky Technology Inc. (KTI)
“We’ll be pushing the envelope in the commercial development of UK technologies and partnerships with Fortune 500 companies through the National Academies University-Industry Demonstration Partnership. Our investment strategy in Kentucky startups will be more aggressive through Kentucky Technology Inc., the Bluegrass Angel Venture Fund, and our new regional venture capital network. Internally, we’re re-organizing our entire technology commercialization process.”
Gina Greathouse
Economic Development Senior Vice President
Commerce Lexington
“We are cautiously optimistic that 2009 will be a good year for job growth in the Bluegrass region. We will focus our marketing efforts on high-tech manufacturing and innovative research which creates new businesses, participate in trade shows, and expand our partnerships with national economic development consultants, Governor Beshear's economic development team, and the Bluegrass Business Development Partnership to recruit new businesses.”
Dean Harvey
UK Business Development Executive Director
Von Allmen Center for Entrepreneureship
“The economic downturn will drive innovation to a new high in 2009. Harvard Business School professor Clayton M. Christensen said in a Dec. 15 article in the Wall Street Journal, ‘[The downturn] will have an unmitigated positive effect on innovation.’ At UK, we’re working on new initiatives such as creating a new model for business development so that our clinicians have the opportunity to bring their innovative ideas to the marketplace.”
Becky Naugle
State Director
Kentucky Small Business Development Center
“KSBDC will be supporting small businesses dealing with the impact of current economic crisis. Fortunately, many Kentucky banks are healthy and are interested in working on solid business projects. The banks are looking for strong well documented projects and KSBDC is well prepared to provide guidance with tighter lending requirements.”
Tina Carpenter
Executive Director
UK Coldstream Research Campus
“Coldstream Research Campus will finalize our master plan update, including a new physical development plan and a new vision focusing on several niche areas. We will develop a marketing strategy that will include local and state economic development incentive programs and aggressively recruit companies which fit into our focus areas. Additionally, we will continue to foster relationships within the Coldstream community.”
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