Fulton County Fiscal Court to receive more than $158K to develop Enterprise Park
(KBSI) – The final approvals in the initial round of a new Build-Ready site development initiative as six projects supporting economic development and job growth in eight Kentucky counties were approved for nearly $5 million in state funding.
The Kentucky Product Development Initiative (KPDI) projects are in Butler, Fulton, Owen, Powell and Warren counties, as well as a regional project that includes Boone, Campbell and Kenton counties.
“The first round of funding has been a tremendous success in supporting future growth and economic momentum,” said Kentucky Governor Andy Beshear. “Our site development and speed-to-market initiatives are crucial to our long-term success in attracting companies to locate in our communities, bringing with them quality job opportunities. I am thrilled to see these projects moving ahead and look forward to seeing the businesses and companies they attract.”
The Fulton County Fiscal Court, on behalf of the Fulton County Industrial Development Authority, is seeking to develop the Enterprise Park for site development and rail-readiness. The nearly $1.9 million project was approved today for over $158,000 in state support.
In June, Gov. Beshear announced the approval of eight more projects across 11 counties totaling over $2.5 million in state funding for sites in Logan, Washington, Henderson, Caldwell, Trigg and Nicholas counties, as well as a regional project including Caldwell, Crittenden, Livingston, Lyon and Trigg counties.
Other projects across the commonwealth include:
The Boone County Fiscal Court, on behalf of the Kenton County Airport Board, is seeking to construct an air cargo warehouse facility with airside access on airport property. This is a regional project with support from Boone, Campbell and Kenton counties. KPDI funds will supply $3.6 million with the total anticipated investment being over $14.7 million.
The city of Morgantown, on behalf of the Morgantown Industrial Holding Corp. in Butler County, is seeking to improve roads in the Morgantown Industrial Park. KPDI funds will provide over $300,000 to the project, with total improvements being just over $600,000.
The Fulton County Fiscal Court, on behalf of the Fulton County Industrial Development Authority, is seeking to develop the Enterprise Park for site development and rail-readiness. The nearly $1.9 million project was approved today for over $158,000 in state support.
The Owen County Fiscal Court, on behalf of the Owen County Industrial Development Corp., is seeking to construct a new Build-Ready pad in Owen County. KPDI funds will provide over $90,000 for the $186,500 site-upgrade project.
The Powell County Fiscal Court, on behalf of the Powell County Industrial Development Authority, is seeking to extend water and sewer utilities into the Clay City Business Park. The total anticipated project investment is $780,000 with nearly $320,000 in KPDI funding approved for the site.
The city of Bowling Green, on behalf of the Inter-Model Transportation Authority, is seeking to extend infrastructure in the Kentucky Transpark in Warren County. The site will see over $830,000 in improvements, with over $415,000 coming from state support through the KPDI program.
Round one of the KPDI program includes 53 site and building development projects statewide approved for over $31 million in state funding. It was established in 2022 and administered by the Kentucky Economic Development Finance Authority (KEDFA).
In June, Gov. Beshear announced the approval of eight more projects across 11 counties totaling over $2.5 million in state funding for sites in Logan, Washington, Henderson, Caldwell, Trigg and Nicholas counties, as well as a regional project including Caldwell, Crittenden, Livingston, Lyon and Trigg counties.
In August, Gov. Beshear highlighted the approval of two more site and development projects, awarding over $1.3 million in state support for projects in Harrison and Graves County.
In October, Gov. Beshear reported eight additional projects across 13 counties received funding totaling over $4.3 million across Boyle, Lincoln, Marion, McCracken and Ohio counties, as well as regional projects that include Ballard, Carlisle, Daviess, Garrard, Hopkins, Lincoln, McLean, Muhlenberg, Ohio and Rockcastle counties.
The Kentucky Cabinet for Economic Development reviews each project for a recommendation of approval in the coming months.
The program was established in 2022 after Gov. Beshear and the General Assembly approved $100 million in funding during the regular 2022 session.
Applications are first evaluated by an independent consultant based upon all facets a prospective company would consider, from workforce availability, access to all infrastructure and detailed information on costs associated with development. These projects will generate increased economic development opportunities and job creation for Kentucky residents. The program furthers the efforts of the pilot Product Development Initiative program, which provided nearly $7 million in state funding for 20 site and building development projects statewide.
For more information on KPDI, visit KPDI.ky.gov.
