State investments strengthen shovel-ready sites and industrial buildings pipeline statewide
FRANKFORT, KY (Feb. 26, 2026) — Governor Andy Beshear announced that 12 economic development projects across 12 Kentucky counties have been approved for $13.5 million in state funding through the Kentucky Product Development Initiative (KPDI), advancing site readiness and positioning communities for future private-sector investment and job creation.
The funding supports infrastructure improvements, due diligence activities, speculative building construction, and industrial site preparation designed to accelerate Kentucky’s speed-to-market competitiveness.
“The investments we make today in site and building development create tomorrow’s jobs,” Gov. Beshear said. “These projects strengthen Kentucky’s long-term economic growth strategy and reinforce our position as one of the most business-friendly states in the nation.”
Strengthening Kentucky’s Industrial Site Pipeline
The Kentucky Product Development Initiative (KPDI), administered by the Kentucky Cabinet for Economic Development in partnership with the Kentucky Association for Economic Development (KAED), provides financial support to communities preparing industrial sites and buildings for recruitment opportunities.
This round includes projects funded through the KPDI Program of 2024 as well as recaptured funds from the 2022 program cycle.
Approved projects span a range of development activities, including:
- Environmental and geotechnical due diligence
- Utility extensions and infrastructure upgrades
- Industrial park development
- Road and transportation improvements
- Speculative industrial building construction
- Industrial property acquisition
Key Projects Receiving Funding
Highlights among the approved projects include:
- Gallatin County — Environmental studies and infrastructure extensions supporting aviation-related and industrial development at airport property sites, totaling more than $1.4 million in state support.
- Madisonville-Hopkins County — Funding to advance the county’s largest shovel-ready industrial site to full Build-Ready status.
- Elk Hill Regional Industrial Park (Clay County) — Road and sewer infrastructure improvements supporting over 100 acres of industrial development.
- Bourbon–Nicholas County Regional Industrial Park — $3.3 million awarded for major site improvements at the newly established regional park.
- McDaniel Industrial Park (London–Laurel County) — $2 million toward construction of a 70,000-square-foot expandable speculative building.
- Green River Commerce Park (Adair County) — Support for development of a 40,000-square-foot speculative industrial facility.
- Walters Industrial Park (Montgomery County) — Road construction improvements enhancing site accessibility.
- Woodford County / City of Versailles — $2 million supporting acquisition of a 17-acre industrial site and existing manufacturing facilities totaling more than 140,000 square feet.
Additional awards support due diligence, property preparation, and truck-access infrastructure improvements in Monroe, Clinton, and Madison counties.
Building Long-Term Economic Competitiveness
Projects funded through KPDI undergo evaluation by an independent third-party site selection consultant, which assesses factors critical to corporate location decisions, including:
- Workforce availability
- Infrastructure access
- Development costs
- Logistics connectivity
- Site readiness timelines
Currently, $35 million remains available for projects entering due diligence in the program’s latest funding round.
Measurable Results from Site Development Investments
Since the initiative’s launch:
- 96 projects have received nearly $90 million in KPDI funding through the 2022 program cycle
- Projects have generated more than $512 million in total site and building investments including local contributions
- 51 companies have located on PDI/KPDI-supported sites
- Resulting investments exceed $5.7 billion and have created more than 7,400 jobs statewide
- Gov. Beshear and the Kentucky General Assembly have approved up to $170 million in total funding for the initiative to date.
Terri Bradshaw, President and CEO of KAED, emphasized the long-term impact:
“Strong communities are the foundation of Kentucky’s economic future. KPDI empowers local leaders to prepare competitive sites that attract new investment and sustain economic growth across the commonwealth.”
Preparing Kentucky for the Next Generation of Investment
By investing in development-ready industrial sites and modern facilities, Kentucky continues to expand its inventory of competitive locations capable of attracting advanced manufacturing, logistics, and technology projects across multiple regions.
Learn more about the Kentucky Product Development Initiative at kpdi.ky.gov.
