FRANKFORT, KY – Clay County is slated to receive $270,000 in funding from the Kentucky Agricultural Development Fund (KADF).
According to Representative Derek Lewis, the announcement was shared with legislators at the monthly meeting of the Tobacco Settlement Agreement Fund Oversight Committee. The legislative committee reviews funding awarded by the KADF.
The funds for Clay County were specifically appropriated for the County Agricultural Investment Program, which is designed to assist in the improvement and diversification of farm operations. The program covers several investment areas, from farm infrastructure to energy efficiency and production.
“I am happy to announce that Clay County will receive $270,000 in agriculture development funds. This investment will be a great asset to our local operations, and represents our continued teamwork with the Agricultural Development Board and the Department of Agriculture. The legislature aims to preserve our agricultural legacy and hopes to continue growing one of the most important sectors in our state’s economy. I am proud that this money is being used wisely, and I look forward to seeing how this will benefit our communities and the surrounding areas in the near future.” Representative Lewis said.
The Tobacco Master Settlement Agreement fund was established as a result of an accord that was reached in 1998 between four major tobacco product manufacturers and 46 states. Kentucky’s portion of the payout has surpassed $2.2 billion in what remains the largest civil settlement in U.S. history. The legislature has since utilized these funds for exploring new opportunities to benefit Kentucky farms now and in the future.
In addition to monitoring awards from the tobacco settlement, lawmakers also review the long-term trajectory of both county and state-wide agricultural development plans. As a result, the Committee is tasked with devising investment strategies to revitalize and diversify tobacco farms, promoting research in alternative crop production methods, and most importantly, directly assisting local farming activities. Alongside agricultural initiatives, a large portion of the settlement money has been invested in early childhood development programs and public health programs.
To learn more about the Tobacco Settlement Agreement Fund Oversight Committee, please visit the Statutory Committee section of legislature.ky.gov.