[Congressional Record Volume 164, Number 173 (Tuesday, October 23, 2018)]
[Extensions of Remarks]
[Page E1445]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    COMMEMORATING KENTUCKY HIGHLANDS INVESTMENT CORPORATION'S 50TH 
                              ANNIVERSARY

                                 ______
                                 

                           HON. HAROLD ROGERS

                              of kentucky

                    in the house of representatives

                       Tuesday, October 23, 2018

  Mr. ROGERS of Kentucky. Mr. Speaker, I rise today to commemorate the 
50th Anniversary of the Kentucky Highlands Investment Corporation and 
to celebrate the thousands of jobs that have been created and retained 
in Southern and Eastern Kentucky as a direct result of their work.
  Kentucky Highlands is recognized as one of the premier business 
development organizations in the United States. It has been designated 
the Lead Entity of one of three Rural Empowerment Zones, one of eight 
Rural Tax Credit Community Development Corporations, a partner 
Community Development Corporation of Rural Local Initiative Support 
Corporation, a Community Development Financial Institution (CDFI) and a 
Community Development Entity by the U.S. Department of Treasury and has 
received allocations of New Markets Tax Credits.
  Kentucky Highlands became the nation's first nonbank lender under the 
U.S. Department of Agriculture's Business and Industry Loan Guaranty 
program and the first Small Business Administration guaranteed lender 
under the Community Advantage Program. Kentucky Highlands sponsors 
entrepreneur development programs and has developed the Kentucky 
Highlands Business Innovation and Growth Center.
  When you survey Southern and Eastern Kentucky, the footprint of 
Kentucky Highlands is abundantly clear. Countless businesses have been 
established in our rural, mountainous region that otherwise would not 
be here without the direct investments and support of Kentucky 
Highlands. This organization has coordinated, implemented and promoted 
business growth across its 22-county service area.
  The first venture capital investment that Kentucky Highlands made was 
in 1972 for Outdoor Venture Corporation (OVC) in McCreary County. 
Today, OVC is a thriving manufacturing company in Stearns, Kentucky 
that has won repeated successful bids for military contract work, 
employing over 200 people in our region. Our people take great pride in 
producing products for our U.S. warfighters, and we can celebrate their 
ongoing work as a result of the visionary seed funding that Kentucky 
Highlands made 46 years ago.
  In addition to its pioneering efforts in business development, 
Kentucky Highlands has also utilized its success to impact social 
development and improve the quality of low-income housing in Southern 
and Eastern Kentucky. The Highlands Housing Corporation has helped over 
150 families achieve the dream of homeownership, while other programs 
have been implemented to transform energy-efficient housing options 
where it's needed the most.
  Finally, I want to applaud the visionary leadership of Jerry Rickett, 
who was named President and CEO of Kentucky Highlands in 1989. He is a 
native of Southern Kentucky who was determined to make a dynamic change 
in his home region through economic development and improvements in 
housing. Rather than seeing challenges, he sees opportunities, and it's 
that same drive and determination that has guided this flagship 
organization to great success, benefitting families and businesses 
across our region.
  I'm incredibly grateful for the commitment that Kentucky Highlands 
Investment Corporation has made in Southern and Eastern Kentucky, and 
it is with great enthusiasm that I wish them many more years of success 
on their 50th Anniversary.

                          ____________________