Jerry Rickett,
Executive Director
362 Old Whitley Road
P.O. Box 1738
London, KY 40743-1738
Phone: (606) 864-5175
Fax: (606) 864-5194
khicnet@khic.org
www.khic.org
Counties
Served: Bell,
Clay, Clinton, Harlan, Jackson, Laurel, McCreary, Rockcastle,
Wayne, Whitley
Incorporated:
1968
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HISTORY
 In
1968, Kentucky Highlands Investment Corporation (KHIC)
became one of the first community development
corporations in the nation when six community action
agencies banded together to create it. The premise
underlying KHIC is that creating jobs is the most
effective way to revitalize distressed communities, and
help people become self-sufficient. KHIC serves
low-income residents in nine counties across Kentucky's
Highlands.
KHIC is a social venture
capitalist. It helps entrepreneurs develop their
business plans and finances start-up companies when
owners agree to locate in its target communities and
hire unemployed residents. In return for offering
hard-to-find start-up equity and fair financing terms,
KHIC also takes part ownership of the company, and plays
an active management role. KHICH also helps develop
industrial and community facilities.
"Progress made
possible" is the abiding theme at KHIC. In fiscal
year 2000, the corporation invested more than $7 million
and leveraged another $29.6 million in investments. Its
financial assistance helped 77 area businesses create
more than 485 new jobs; in fact, one out of every three
manufacturing jobs in its service area is due in some
part to KHIC. |
