High Tech Hopes


February 5, 2002


When Governor Patton announced his Economic Development legislation recently,
it included incentives for companies thinking of moving to Kentucky. The legislation seeks to remove obstacles with regard to venture capital investment in the Commonwealth so Kentucky can be more competitive with other states in attracting the investment dollars which fuel the high-tech companies. But what about high tech companies who are already here? They're covered too.

Of significance to existing companies is the proposed amendment to the Kentucky Investment Fund Act (KIFA) to permit "follow-on" investments, making it possible for additional capital outlays in businesses in which the financier already has a financial interest. In addition, the legislation proposes that the definition of a "small business" as it applies to knowledge-intensive firms be changed from a value of less than $3 million to a company with a value of less than $10 million.

 

For more information see Governor Patton's legislative initiatives for 2002.



Content for this article was provided by the Kentucky Office for the New Economy.