By Blake Jackson
Kentucky has received more than $100 million from its latest Tobacco Settlement Master Agreement payment. Attorney General Russell Coleman announced the news, highlighting that since the 1998 agreement with cigarette manufacturers, the state has collected $2.8 billion.
“This money benefits all Kentuckians, but primarily our rural communities. This money goes to a large fund that the Department of Agriculture, Commissioner, distributes through the grant process,” said Coleman.
Coleman, who has personal experience working on tobacco farms, expressed satisfaction that half of the settlement money supports agriculture. These grants aim to strengthen rural economies and assist communities impacted by the decreasing tobacco industry.
“This money is helping to mitigate the loss of some of this economic activity, and so $100 million is nothing to slough off. This money is coming back to Kentucky to help our rural communities,” said Coleman.
The remaining half of the settlement money is divided equally between the state's Early Childhood Development Fund and the Kentucky Healthcare Improvement Fund. The Early Childhood Fund supports programs that enhance education and care for young children. Meanwhile, the Healthcare Improvement Fund works to advance health services across Kentucky.
This large settlement not only boosts agriculture but also invests in critical areas like early childhood education and healthcare, strengthening the state's foundation for future generations.
The Tobacco Settlement funds continue to play a vital role in Kentucky’s rural development, agricultural growth, healthcare upgrades, and educational progress.
Photo Credit: gettyimages-artiemedvedev
Categories: Kentucky, Business, Rural Lifestyle