Louisville's High Impact Portfolio program wins national award
Business First of Louisville - September 8, 2005

Louisville's High Impact Portfolio program has won the U.S. Department of Commerce's Economic Development Award for 2005 in the category of "excellence in urban economic development."

"To be recognized out of 110 different communities' programs is quite an accomplishment," Louisville Metro Mayor Jerry Abramson said in a news release. "Our High Impact program not only recognizes our local companies, it also provides the opportunity for new growth in wealth and job creation."

The awards for excellence in economic development recognize innovative economic development strategies of national significance and are designed to showcase best practices and highlight outstanding results.

In the category of Urban or Suburban Economic Development, the nominations are evaluated to determine how effectively they use innovative, market-based strategies to improve urban or suburban economies.

"The companies that are part of the portfolio are some of the most important assets we have in Louisville, and they represent the future of our city's economic growth," Joe Reagan, president and CEO of Greater Louisville Inc., said in the release.

An independent selection panel comprising economic development and government officials and educators, appointed by the U.S. Assistant Secretary of Commerce for Economic Development, evaluated each of the 110 nominations.

Nominations were in seven categories: excellence in urban or suburban economic development, excellence in rural economic development, excellence in enhancing regional competitiveness, excellence in economic adjustment strategies, excellence in technology-led economic development, excellence in community and faith-based social entrepreneurship and excellence in innovation.

Launched in 2004 through a partnership with the mayor and Greater Louisville Inc., the High Impact Portfolio is focused on nurturing and assisting high-impact companies in the region -- those companies with the most potential to play an important role in Louisville's economic growth for years to come, according to the release.

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