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KSBDC Makes Substantial Contribution to Kentucky’s Economy

3-27-08

The Kentucky Small Business Development Center (KSBDC), a division of the University of Kentucky’s Office of Commercialization and Economic Development, contributed significantly to Kentucky’s economy during its recent fiscal year, October 1, 2006 – September 30, 2007.  The KSBDC’s impact to Kentucky’s economy includes:

  • KSBDC clients added $59,000,000.00 in sales to the economy.
  • KSBDC clients received 249 loans totaling over $39,000,000.00.
  • KSBDC clients created or retained 975 jobs.
  • KSBDC returned $581.00 in tax revenues to the state or federal government every hour.

KSBDC’s economic impact figures are derived from the clients each of its centers served during the 2006 – 2007 program year.   Nineteen KSBDC service centers and satellite offices located throughout the Commonwealth of Kentucky provided 2,127 potential or established business owners with one-on-one management consultations.  Over 5,050 participants attended 356 training workshops sponsored by the KSBDC.  KSBDC responded to over 25,000 requests for information during 2006 – 2007 year.

The economic impact and client service numbers were released by the KSBDC today in its annual report.  The report also includes client feedback data, a map of KSBDC service areas, economic impact numbers for a five year period and highlights of numerous businesses served by the KSBDC.  Additionally, the report shows results from an independent study that finds the sales and employment growth rates for KSBDC clients are higher than average Kentucky businesses.  A complete copy of the 2006 – 2007 annual report can be downloaded here.

KSBDC offers free one-on-one management consultations with professional and qualified consultants.  Our consultants are experienced in assisting potential entrepreneurs with feasibility analyses, market research and business planning.  Businesses utilizing SBDC assistance have access to experts on funding sources and go-to market strategies.  Additionally, KSBDC offers affordable training workshops on a variety of subjects. For more information on the KSBDC visit www.ksbdc.org.