Gov. Andy Beshear announced on April 30 that $12.98 million in state funding has been approved for 11 projects aimed at supporting future job growth and investment across Caldwell, Fleming, Floyd, Graves, Hardin, Johnson, Lyon, Marion, McCreary, Mercer and Pendleton counties.
The funding is part of the Kentucky Product Development Initiative (KPDI), which helps local communities improve sites and buildings to attract businesses and create jobs throughout the state. These projects are intended to enhance economic opportunities by preparing locations for industrial use and supporting infrastructure upgrades.
Projects receiving funding include due diligence work on new Build-Ready sites in Princeton-Caldwell County Industrial Park; site plan completion with paving and drainage improvements in Fleming County; environmental studies at the Allen Rail Site in Floyd County; construction of two spec buildings in Graves County; critical infrastructure enhancements at Gil Nicely Sr. Industrial Park in Elizabethtown-Hardin County; a spec building project with flood zone mitigation in Johnson County; land acquisition for rail-served tracts near Eddyville Industrial Park; roadwork and sewer upgrades at Crossroads Development Site in Marion County; improvements to McCreary County Business Park lots; water and sewer system construction at Bluegrass Innovation Gateway Megasite in Mercer County; and site preparation work at Pendleton County Commerce Park.
According to Gov. Beshear: “The commonwealth has long been in the lead on investing in site and building development initiatives, laying the groundwork for continued economic momentum and future job opportunities.” He also said: “Our speed-to-market efforts are one of many reasons businesses continue to choose this great state to locate, expand and invest. Congratulations to these 11 communities on their approvals. I am excited to see the future investment, economic growth and jobs they will help secure.”
Terri Bradshaw, president and CEO of the Kentucky Association for Economic Development (KAED), said: “KPDI plays a vital role in helping communities identify and prepare sites – an essential step in attracting new industries and jobs. Without product ready to market, we simply can’t compete. By supporting proactive site development and reducing risk for future investors, KPDI strengthens Kentucky’s position for high-impact projects. We’re excited to see the opportunities ahead for these communities that took the initiative to invest in land and buildings.”
The Kentucky Cabinet for Economic Development aims to promote Kentucky as a prime spot for business investment according to its official website. The cabinet collaborates with Team Kentucky as reported by its official website as well as engages broadly across efforts fostering economic development per its official website. The agency operates within Kentucky as detailed online.
To date under this initiative nearly $93 million has supported almost 100 statewide projects leveraging over $516 million including local contributions into investments targeting job creation through enhanced sites or facilities across Kentucky’s portfolio.
