Economic Development

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Economic Development 2017-06-19T11:10:46+00:00

Economic Development Mission

ecodev-100416The purpose of the FIVCO ADD’s Community/Economic Development Department is to work closely with all units of local government in securing funds for projects that advance the economic development environment within the five counties that make up the Area Development District. FIVCO ADD has staff, certified by the Department for Local Government (DLG) to prepare and administer Community Development Block Grants (CDBG) for community and economic development purposes.

Preparation of grant applications and the administration of the programs after funding has been received are services the ADD continues to provide. By providing administration services to the five county and fifteen city governments in our service area, these units of government are guaranteed quality work at a fee, considerably less than private or independent consulting firms.

As a requirement by the Economic Development Administration (EDA), the ADD is required annually to produce the Comprehensive Economic Development Strategy (CEDS) document. Each ADD sub-committee reviews the material contained in the document. After review, it is presented to the full board for adoption by resolution. From projects outlined in the CEDS, FIVCO receives funds to develop projects from EDA based on the identified strengths, weaknesses, opportunities and threats determined for the area.

Besides financial support from the EDA, FIVCO ADD receives support from the Appalachian Regional Commission, USDA Rural Development Program to further their program goals. DLG’s Land and Water Conservation Funds and Recreational Trail program funds are provided to fund various city and county parks and downtown restoration projects. The ADD also assists area fire and police departments in the application for FEMA Firefighter grants as well as Homeland Security grants.  FIVCO ADD also administers the Revolving Loan Fund (RLF) in order to assist local businesses with financial assistance as low interest loans.

FIVCO ADD staff works with all of our respective local communities and organizations to bring their projects to reality, whether it is a community or senior center, water or sewer project, playgrounds, or a local business working to expand their current operations.  FIVCO ADD services include assistance in finding the proper funding sources, writing grants and loan applications, and also providing any needed project management services.

Vital FIVCO structures maps

Past Program Accomplishments

  • KIA Funds
  • Area Development Fund (ADF) Grants
  • FEMA Flooding & Landslide Disasters
  • ARC Grants
  • Land and Water Conservation Funds
  • Watershed Grants
  • KADD Loan Program
  • Law Enforcement Grants
  • Homeland Security Grants
  • Highway Safety Grants
  • Kentucky Centerline Project
  • TEA-21
  • Certified Clean County Program
  • Flood Control ProjectsP.R.I.D.E.(Lawrence County)
  • Recreational Trail Funds
  • CDBG Projects
  • KY Rural Water Association
  • FEMA Fire Department Grants
  • Kentucky Economic Development Project
  • Community Planning
  • CEGG Grants
  • Landfill Closure
  • Water Resource Information Systems (WRIS)
  • Rural Development Agency
  • Water/Wastewater Planning
  • COPS in SchoolKentucky Heritage Council Grants

Several Community Development Projects are being completed in all of the five county regions (Boyd, Carter, Elliott, Greenup, and Lawrence) of FIVCO.  The programs funding these projects include the Community Development Block Grant (CDBG) Program, Economic Development Administration (EDA), USDA Rural Development, Kentucky Infrastructure Authority (KIA), Kentucky Transportation Cabinet (KYTC) Federal Emergency Management Agency (FEMA), and Kentucky Emergency Management (KYEM) to name a few, as well as local investments.

The ADD continues to work with the Northeast Kentucky Regional Industrial Park Authority (EastPark) in its’ effort to attract new businesses into the park.