Lexington, Ky - Veterans, women and minorities interested in starting construction and contracting businesses may be able to benefit from an incubator and mentoring program based in Lexington.
The initiative, created by a grant from the Small Business Administration, was announced Tuesday by Kentucky Congressman Ben Chandler, Central Kentucky chamber of commerce members and elected officials and Doug Hacker, president of the Associated General Contractors of Kentucky.
The 700-member AGC will administer the program, whose official name is the Bluegrass Veteran and Minority Owned Incubation Program. Three firms will be selected to participate in a two-year program to provide help in areas such as human resources and financial management, insurance and legal issues, sales, LEED-certified building and other issues.
Participants will be provided office space and support in a building at 950 Contract St. in Lexington.
Hacker, of Congleton-Hacker Co. in Lexington, said many potentional contractors "have very good skills sets ... they just don't know how to get into business."
The program is the first of several initiatives that will be rolled out with the help of the SBA.
Other initiatives will focus on partnerships in Central Kentucky, developing bio-technology businesses, workforce development and a small business loan fund.
The contractor program should be up and running 30 to 60 days, said Richard Vincent, executive vice president of the AGC.
Hacker said the minority and veterans populations "both need business mentors."
The AGC will rely in part on the expertise of its members and affiliated professionals such as attorneys and certified public accountants.
The program will also get help from other organizations, such as the Bluegrass Military Affairs Coalition and are chambers of commerce.
The AGC is a group that has existed in Kentucky since 1919 with a motto of "Skill, integrity, responsibility and professionalism," said Richard Vincent, executive vice president of the state group.
He said the group still "stives to uphold that mission" and the mentoring program is a way to "focus on our core values."
The program comes even as the construction industry continues to suffer prolonged job losses from the recession.
One positive statistic for Kentucky noted by Hacker and the AGC: In June, Kentucky reported the highest one month growth in construction jobs in the nation.
And while competition is fierce for construction contracts, Hacker said "competition makes everybody sharper" and the program is really born out of cooperation and the AGC's desire to uphold the reputation and reliability of the industry.
The program also is an an example of cooperation across county and government lines.
Bob Quick of Commerce Lexington and Nancy Stone, executive director of the Jessamine County Chamber of Commerce, spoke Tuesday on behalf of the Central Kentucky Regional Public Policy Group. That group of elected officials and community leaders in seven counties (Clark, Fayette, Franklin, Jessamine, Madison Scott and Woodford) worked together to lobby for the $200,000 SBA grant.
"By continuing to focus on a unified agenda and speaking with one voice to our congressional delegation, we can maximize our outcomes and advance our regional priorities," Quick said.
People interested in assisting with the contractor program of getting assistance from it should contact Richard Vincent, AGC executive vice president, at 502-223-8845 or rvincent@agcky.org.