Gov. Beshear: Nearly $650,000 in Grants Awarded to 6 Kentucky Companies To Support Continued Job Growth
State matching fund program supports innovation, technology development in the commonwealth
FRANKFORT, Ky. (Aug. 8, 2024) – Today, Gov. Andy Beshear announced that six innovative Kentucky companies will receive nearly $650,000 in state matching grants to support high-paying jobs and further grow the state’s thriving industries.
The grants are part of the commonwealth’s nationally recognized Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds program. The funds will match, in part, $4.6 million in collective federal agency grants awarded to the businesses to develop innovative products and ideas.
“Innovative companies are growing at an impressive rate in Kentucky, and we must ensure that momentum continues by investing in the resources, people and small businesses that are energizing our communities,” said Gov. Beshear. “Our SBIR/STTR Matching Funds program provides Kentucky companies an incredible opportunity to turn their game-changing ideas into cutting-edge products, while also creating quality jobs in some of our country’s highest-paying fields. This year’s recipients are a testament to the outstanding work being done in the commonwealth, and we congratulate this latest round of awardees.”
David Brock, interim executive director of KY Innovation, the Kentucky Cabinet for Economic Development’s Office of Entrepreneurship and Innovation, mentioned the impact the funding can have on the state: “The SBIR/STTR Matching Funds program sets Kentucky apart as a state that values talented entrepreneurs and recognizes the impact of supporting cutting-edge startups in our state. These are the kinds of technologies and companies that will help build our economy of the future. We are thrilled to award this impressive list of recipients and eager to see them grow in Kentucky.”
The six Kentucky-based businesses awarded matching funds are using technology to advance multiple fields, from artificial intelligence and virtual reality to agriculture and food research. Recipient companies include:
InfoBeyond Technology
InfoBeyond develops SafeCBM (Nuclear Power Plant [NPP] Safety-constrained condition-based monitoring [CBM] Optimization & Diagnosis) to leverage AI-based process automation, machine intelligence and computer-aided decision making for NPP modernization that enhances both core operations and maintenance work activities. SafeCBM can enhance the plant’s computerized maintenance management systems performance by minimizing overall maintenance cost while improving plant life management.
Faradine Systems
Faradine Systems is commercializing the development of a drop-and-go device to serve as a team awareness/tactical assault kit meshed networked node. This device will enable military personnel to create rapidly configurable, decentralized, distributed signaling devices to extend situational awareness and visual and data communications through overt/covert light devices.
GradEd Gaming
GradEd Gaming’s goal is to revolutionize high school education in Kentucky and throughout the United States by introducing pioneering technologies tailored to career and technical education. By integrating virtual reality, AI and gaming into the curriculum, GradEd Gaming aims to significantly bolster workforce readiness among students. This initiative not only equips them with vital skills and competencies but also enhances their prospects for economic mobility, thereby fostering greater economic growth within our communities.
Invictus Informatics
Invictus Informatics is developing a solution to manage genetic data for agricultural animals that would provide a web-based data management system capable of inexpensively storing, managing and analyzing data. This technology will allow small farmers to produce, manage and use whole genome genotypes for their animals, aimed at improving production traits and efficiency.
Thermisoln
Thermisoln is developing a new post-combustion CO2 capture technology that could significantly improve energy efficiency of carbon capture from a coal-fired power plant. One of the key aspects of this project is to design and manufacture a novel gas-liquid impinging scrubber that could enhance CO2 absorption kinetics and carbon loading capacity.
VerraGlo
Collaborators at VerraGlo and the University of Kentucky have developed foundational technology for light-emitting metal-organic lumiphore (MOL) sensors that can be used to measure peroxide value (PV) in edible fats and oils. Throughout the food industry fats and oils must be continually tested to meet product specifications and assure quality. The industry standard for measuring PV requires laboratory glassware, the use of flammable and toxic solvents that are expensive to purchase and disposed after use and requires trained personnel. VerraGlo’s method uses no laboratory glassware, no solvents and no cleanup; the sample vial is disposable.
The federal SBIR/STTR program, known as America’s Seed Fund, funds a diverse portfolio of startups and small businesses across technology areas and markets to stimulate technological innovation, meet federal research and development (R&D) needs, and increase commercialization to transition R&D into impact.
Kentucky’s SBIR/STTR program provides additional non-dilutive capital at a critical early stage for promising tech companies by matching all or part of federal SBIR/STTR awards received by Kentucky-based businesses or companies committed to relocating to the state. The program is overseen by KY Innovation.
Mark Harris, vice president of research and education at 1109 Bravo, which received SBIR/STTR funding in 2023, noted the opportunities provided by the program: “This grant provided us the ability to ease the burden of start-up costs, business expansion and, most of all, the ability to purchase a highly skilled person with experience in manufacturing, sales and marketing. This grant helped us to purchase new equipment and technology that we otherwise would not have been able to purchase, which helped us increase our business’ efficiency and competitiveness.”
To date, Kentucky SBIR/STTR-awarded companies have leveraged the state’s matching program to receive $4.75 in federal or private capital for every $1 in state funds. These businesses also have created more than 737 well-paying jobs, 89% of which have annual salaries over $50,000. Match recipients have 235 patents and have generated more than $57.6 million in sales and licensing revenue. Kentucky has made 330 match awards to 152 unique companies since the program’s inception, leveraging $162 million in federal funding coming into the state.
The SBIR/STTR-awarded companies build on the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling nearly $32 billion in announced investments, creating nearly 55,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
For more information on Kentucky’s SBIR/STTR Matching Funds program and the companies receiving awards, visit KYInnovation.com/SBIR.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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Gov. Beshear: Disaster Unemployment Assistance
Available for Those Impacted by Severe Storms
Over Memorial Day Weekend
FRANKFORT, Ky. (Aug. 9, 2024) – Gov. Andy Beshear announced today that the state will accept applications for Disaster Unemployment Assistance (DUA) from individuals in 15 counties who are out of work as a result of the severe storms in Kentucky on May 21-27, 2024.
Following Gov. Beshear’s disaster relief request on June 14, 2024, President Joe Biden issued a Major Disaster Declaration on July 23, 2024, designating the following 15 counties for individual assistance: Butler, Caldwell, Calloway, Christian, Clay, Greenup, Hopkins, Knox, Logan, Muhlenberg, Simpson, Todd, Trigg, Warren and Whitley.
Individuals – including unemployed and self-employed individuals who were living or working in the affected areas and became unemployed or had work interrupted as a direct result of severe storms, straight-line winds, tornadoes, landslides and mudslides on May 21-27, 2024, – are eligible to apply for DUA benefits through the Kentucky Office of Unemployment Insurance.
DUA is available to individuals who:
- Worked or were self-employed, or were scheduled to begin work or self-employment;
- Can no longer work or perform services because of physical damage or destruction to the place of employment as a direct result of a disaster, which can also include the physical inaccessibility of the place of employment due to its closure by the federal, state or local government in immediate response to the disaster;
- Establish that the work or self-employment they can no longer perform was their primary source of income;
- Do not qualify for regular unemployment insurance benefits from any state;
- Cannot work or resume self-employment because of an injury as a direct result of the disaster; or
- As a result of the disaster, became the breadwinner or major support of a household because of the death of the head of the household.
In order to qualify for DUA benefits, claimants in eligible counties must show that their employment or self-employment was lost or interrupted as a direct result of the disaster and that they are not otherwise eligible for regular unemployment insurance benefits under state or federal law. Farmers and other self-employed individuals who traditionally are ineligible for unemployment insurance (UI) benefits may qualify for DUA.
To receive DUA benefits, the federal program requires individuals to provide documents, including a copy of their most recent federal or state income tax forms or check stubs, a bill showing their physical address at the time of the disaster and a photo ID. All required documentation must be submitted within 21 days from the date the DUA application is filed.
DUA is available for weeks of unemployment beginning May 26, 2024, until Jan. 25, 2025, as long as the individual’s unemployment continues to be a direct result of the disaster.
How To File a Claim
Affected individuals should visit the Kentucky Career Center website at kcc.ky.gov or call 502-875-0442 to file their initial claim. The deadline to apply for assistance is October 9, 2024.
Updated information will be communicated on the Kentucky Career Center website and through future press releases with detailed information. DUA is funded by the Federal Emergency Management Agency and benefits are not charged to employers.
Following the storms over the Memorial Day weekend, the Governor urged local officials to start the federal Individual Assistance and Public Assistance damage assessments and asked Kentuckians who experienced storm damage to take photographs before cleaning up and to report the damages to their local emergency management officials.
Gov. Beshear also activated the State Emergency Operations Center and activated the state’s price gouging laws to protect Kentuckians from overpriced goods and services as they cleaned up from the severe weather.
On Memorial Day, Gov. Beshear visited the hardest impacted areas in Hopkins and Muhlenberg counties to view storm damage and speak with local officials and families affected by the severe weather.
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Gov. Beshear Releases Tax Returns for 8th Straight Year, Challenges Other Elected State Leaders To Do The Same
Gov. Beshear has released tax returns for each year he served in public office
FRANKFORT, Ky. (Aug. 9, 2024) – Gov. Andy Beshear has reiterated his commitment to transparency once again, releasing his 2023 tax returns and 2023 Statement of Financial Disclosure.
For the eighth consecutive year, the Governor has released his tax returns and called on all other constitutional officers and legislative leaders to do the same. So far, Lt. Gov. Jacqueline Coleman is the only other statewide elected official to release their tax returns in the last eight years.
“Throughout my entire time in elected office, I have committed to being open and transparent with Kentuckians and to earn their trust,” said Gov. Beshear. “Our public officials need to earn the public’s trust by showing them that their only interests are what’s best for the people of the commonwealth. There was a time when this was expected. Now it is the rare exception.”
Gov. Beshear’s returns, filed jointly with his wife, Britainy, show he has only one employer – the people of Kentucky. Gov. Beshear’s adjusted gross income totaled $214,600, which included his salary as Governor along with some stock dividends.
The Governor’s 2023 calendar year Statement of Financial Disclosure, which is required to be filed by elected officials and Executive Branch officers by April 15, includes additional information. The Governor listed three gifts traditionally received by the Governor of Kentucky: University of Kentucky basketball tickets, University of Kentucky football tickets and an honorary membership to the Frankfort Country Club. In addition, Gov. Beshear received tickets to athletic events for University of Louisville Women’s Basketball, Northern Kentucky University Men’s Basketball, Morehead State University Men’s Basketball, the KHSAA Sweet Sixteen Boys’ Basketball Tournament, the Lexington Counter Clocks and Racing Louisville FC. He also received Shady Rays sunglasses and tickets to the Mammoth Cave performance by the Louisville Orchestra with guest cellist Yo-Yo Ma. All noted gifts were given to Gov. Beshear in his official capacity as Governor of the Commonwealth of Kentucky.
Lt. Gov. Coleman’s 2023 tax returns, filed jointly with her husband, Chris O’Bryan, show she too has only one employer – the people of Kentucky. The couple’s adjusted gross income totaled $224,125. The Lieutenant Governor’s 2023 calendar year Statement of Financial Disclosure includes additional information.
“Kentuckians deserve elected leaders who are honest and transparent, and, as Lieutenant Governor, I have worked hard to earn their trust,” Lt. Gov. Coleman said. “I believe elected officials have the responsibility to prove their interests align with those of their constituents.”
The Lieutenant Governor released her family’s 2017 and 2018 taxes when running for office and released her 2019, 2020, 2021 and 2022 tax returns each year after they were filed.
First taking public office as Kentucky Attorney General in 2016, Gov. Beshear has released his tax returns for every year he has served, beginning in 2017 with the release of his 2016 returns. He was the first Kentucky Attorney General to release his taxes for each year he served in the office.
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Lt. Gov. Coleman Named 2024-2025 Treasurer of
National Lieutenant Governors Association
FRANKFORT, Ky. (Aug. 9, 2024) – Lt. Gov. Jacqueline Coleman was selected to serve as treasurer of the National Lieutenant Governors Association (NLGA) for 2024-2025 at the organization’s annual meeting in Detroit.
“NLGA has created a forum for lieutenant governors to advance priorities and opportunities for our states and our constituents,” said Lt. Gov. Coleman. “As an officer, I look forward to engaging with NLGA and my peers from across the country to foster bipartisanship and address shared challenges.”
The NLGA was formed in 1962 as the professional and educational association for the elected officials who are first in line of succession to the governors of the 50 states and five U.S. territories.
“Lt. Gov. Coleman was chosen by her peers to serve as treasurer, reflecting their faith and confidence in her ability to help lead this valuable association,” said Kellie Rittershausen, director of the NLGA.
For more information on the NLGA, visit nlga.us.
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