Northern Kentucky ezone finishes 2008 with $1.375 million going to local companies

The Northern Kentucky ezone finished 2008 with a staggering $1.375 million awarded to clients thanks to support from the Kentucky Enterprise Fund and the Rural Innovation Fund – two programs that invest public monies into promising technology and innovation-driven companies within the Commonwealth of Kentucky.  The Funds provide one-time grants of $30,000 and equity investments ranging from $100,000 to $750,000, which may be matched dollar-for-dollar by the company via private equity investments.

Global Shelter Systems recently concluded a financing round that resulted in a $500,000 contribution by the Kentucky Enterprise Fund. The company specializes in products used for blast protection in war zones and has been an ezone client since 2006.

Stephanie Herron, President of GSS says this investment is much more than just about money. "Any successful business is about building relationships and this is where the funding becomes more strategic.  One of the reasons that we've received such enthusiasm is because we've been dedicated to bringing jobs into Northern Kentucky. We have the opportunity to make a positive impact. We, with full intention, have focused on keeping manufacturing and suppliers in Northern Kentucky."

Also included in this round of investments was Packaging Services Group, whose product helps clients manage the complexity surrounding their packaging specification data. Packaging Services Group received a $30,000 grant.  
 
Statewide, $2,880,000 was distributed to companies in the form of grants and investments/convertible notes.  The next deadline for applications is February 12th. For more information or to begin your application, please contact Keith Schneider at the Northern Kentucky ezone at 859-292-7785 or visit www.nkyezone.org for more information.