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New Economy Commissioner William Brundage says he is impressed with this area's resources and the hard work of many civic leaders to compile a strategic plan to better compete in the field of high technology.
"I think you have an opportunity here in western Kentucky to give the ‘triangle’ area a run for its money...," he said Friday in a meeting of the Kentucky Innovation Commission, which oversees his program. "You have some unique opportunities out here."
Brundage was referring to the Louisville, Lexington and northern Kentucky areas that have dominated economic growth in the state. After the meeting, he said western Kentucky's strengths include nuclear energy, coal, agriculture and telecommunications — all high-tech fields.
Chaired by Gov. Paul Patton, the commission met at the Curris Center of Murray State University, which is seeking about $2.7 million in state and private funding to establish and operate the Western Region Center for Emerging Technology. With branches in Paducah, Hopkinsville, Henderson and Madisonville, the center would be the area's main resource for business advances in telecommunications, bio-agriculture and environmental sciences.
Most of the funding would come from a $1.5 million state grant, plus $500,000 in seed capital money earmarked for the 20-county New Economy Western Region. A regional task force has completed "about 90 percent" of a strategic plan on how to hasten high-tech development from Muhlenberg to Fulton County, said Rep. Buddy Buckingham of Murray, task force chairman.
The New Economy initiative, established by the legislature last year, has $10 million to combine with private money to try to create a seed capital fund of $20 million to $30 million. A strategic plan for the entire state is expected by the year's end.
"As you can see, we don't have the resources to do the job yet," said Patton, noting that the 2002 General Assembly will review the young program's development and decide how much more funding to provide.
Buckingham said the Western Region plan, which should be made public later this month, is the work of about 65 business and community leaders. He said a core group of 30 people met once or twice a week for about three months, focusing on four areas: telecommunications, energy/environment/agriculture, recruiting high-tech industries, and "lifelong learning" to establish technology curriculum in schools and foster small-business development.
Although he did not reveal specifics of the draft plan, Buckingham said centers such as the one proposed for Murray State would be the "brain trusts" of the New Economy initiative. He also said the Paducah uranium enrichment plant and its related resources would make up one of the key energy-related elements of the plan.
More than 60 economic development officials attended the meeting, including several from a task force touting the conversion of the Paducah Information Age Park into a national energy research and development center. The project, heavily backed by University of Kentucky President Dr. Lee Todd, could involve USEC Inc., which operates the enrichment plant, and the Department of Energy, which owns the facility and oversees massive environmental cleanup.
After the meeting, Brundage said he looked forward to learning more about the energy center idea. Ken Wheeler, energy center task force chairman, said he and several members of his group who helped compile the draft New Economy plan will brief Brundage Aug. 2 when he returns to western Kentucky.
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