|Program||# of Grants||EDA Funds|
|Assistance to Coal Communities||4||$6,493,762|
Pikeville, KY – Pike County has been devastated by the loss of coal jobs over the recent years. In an effort to diversify the local economy, they have focused on the health care industry. The Pikeville Medical Center has become one of the largest employers in the region, with over 3,000 employees to date. While the coal industry has declined nationally, coal production in Appalachia Kentucky has decreased by 80 percent from 2000 to 2015. As a result, a ripple effect has impacted area businesses as well as local governments.
In September 2017, EDA invested $2,425,869 in Economic Adjustment Assistance through Assistance to Coal Communities funds to the Pikeville Medical Center, Inc. to fund the purchase of medical equipment supporting The Heart Institute as part of the renovation of the existing Pikeville Medical Center hospital facilities to equip the new cardiac catheterization lab. The Medical Center had a need to expand and was willing to commit over $9,000,000 in private investment. However, they desperately needed additional funding to bring the project to fruition.
The project is anticipated to create 250 new jobs at the medical center alone with additional job creation from the support industries in the region. This project will assist multiple communities severely impacted by the declining use of coal through job creation, capital investment and re-employment opportunities. This renovation will allow for not only much needed job opportunities but will also provide heart related healthcare in a region that lacked adequate services in the medical industry for years. The Pikeville Medical Center is now a nationally ranked hospital, providing quality care to the region.