Friday, March 27, 2015

Feds establish initiative to award up to $38 million to help revive struggling Ky. coal communities

In an attempt to stimulate the economy of coal-depressed Kentucky counties, state and federal officials Frday announced the formation of the Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) initiative, "which will award up to $38 million in grants to coal communities to support economic and workforce development," says a release from the state.

The release said the initiative is designed to use federal economic and workforce development resources to diversify economies; create jobs in new or existing industries; attract new sources of job-creating investments; and provide a range of workforce services and skills training that offer industry-recognized credentials for high-quality, in-demand jobs.

The U.S. Department of Agriculture also announced approval of a $1.8 million loan for a new innovative business in Eastern Kentucky, the region hit the hardest by the loss of coal jobs. (Read more)

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