- Tech Insights
Terri Bradshaw, President & CEO, Kentucky Capital Development Corporation believes the secret to success is not thinking less of yourself, but thinking of yourself less. She holds herself responsible for the performance of her team and the organization. “I believe that I am the decisions that I make collectively—I never ask my staff to do anything that I am not willing to do,” she explains. “I believe courage is contagious and that attitude is equally as important as aptitude. As a leader I try to tap into creative, non-traditional ways to support my staff and our partners; grow our businesses and exploit our opportunities.”
"Kentucky Capital Development Corporation is currently using this same technology to provide a Community Housing Needs Assessment to help focus efforts on their lack of new housing."
Kentucky Capital Development Corporation was created to aid in the acquisition, retention and development of land for industrial and commercial purposes in Franklin County and to aid in the development and promotion of industrial sites. To support that mission the organization implements strategies for building human, social, institutional and physical resources for a stronger, self-sustaining local economy. They promote quality of life; develop the skills to build workforce competitiveness that create career paths to quality jobs; and nurture local businesses to create new growth and income. “We are primarily focused on increasing employment opportunities, private sector capital investments and the local tax base and we provide a wide array of services and information to assist new, expanding and relocating American and international businesses who are interested in our community,” adds Terri.
According to the steadfast leader, in recent years there has been an explosion in the amount of data which they obtain and manipulate to serve their purpose of economic development. This large amount of data availability is due to significant advances in technology. To be successful, economic developers need to understand their community’s strengths – whether it is an educated and diverse workforce, affordable housing, lower cost of living, great transportation, or a thriving local economy. “We use location intelligence to visualize and analyze businesses and community growth potential, combining data about demographics, lifestyle and spending,” says Terri. “Smart maps provide community leaders, businesses, and investors with key data and iterative development plans in real time. It also allows our prospects to forecast profits for potential locations and networks of locations and to make strong site selection and market planning decisions.”
Kentucky Capital Development Corporation is currently using this same technology to provide a Community Housing Needs Assessment to help focus efforts on their lack of new housing. The housing market plays an important role in the broader economy and housing prices can impact residential investment and therefore affect economic growth. This study will analyze the area’s supply and demand for housing to determine existing and future needs and provide guidance in developing appropriate housing policies, programs and strategies. By understanding the relationship between various workforce development and housing market conditions the community will be able to choose the appropriate strategies and coordinated cross-sector policies and partnerships that promote access to opportunity. “Economic data shows that growth or real GDP is an important measure of a community’s economic health, and the housing sector is typically one of GDP’s largest components. Gauging the health of the local economy depends in part on understanding what is driving housing consumption and investment,” explains Terri.
Terri and her team are also currently working with a developer to build a new industrial park in Franklin County. Available land with proper zoning and adequate infrastructure can be a critical factor in site location and without a high-quality inventory of attractive sites that are shovel-ready, a community is quickly removed from the short-list. The most sought after sites are those where the risk has largely been mitigated for a prospective company. “If this project is successful, it will add 85 acres of industrial land to our inventory of available properties. This will ultimately lead to new projects and investment, an increase in the local tax base and new jobs,” she says. That is exactly the mission of Kentucky Capital Development Corporation. IE
Kentucky Capital Development Corp
President & CEO Kentucky Capital Development Corp
True lovers of Kentucky know that the literal and figurative heart of this gracious southern state is the capital city of Frankfort, perfectly positioned on the shores of the Kentucky River between Louisville and Lexington. Frankfort embodies the essence of everything that makes Kentucky special from her natural charm and beauty to her brains to her world-renowned bourbon, all in one distinctly small but spirited package.