$2 million in state support to support construction of spec building
Lyon County was approved for $2 million in state funding to spur future investment and job creation.
“When it comes to setting up the commonwealth for long-term economic success, our collaboration with local communities is paving the way,” said Gov. Beshear. “I am thrilled to see further investment into a site that was previously approved for funding for crucial upgrades. This site in Lyon County will attract quality business and will generate well-paying jobs for Kentucky families.”
The funding is through the Kentucky Product Development Initiative (KPDI), which is overseen by the Cabinet for Economic Development. The initiative provides funding for local communities statewide to increase investment in site and building upgrades to attract future job creation and economic growth.
The city of Eddyville, on behalf of the Eddyville Riverport and Industrial Development Authority, plans to construct a spec building on Site B in the Eddyville Industrial Park. This site was part of a regional project including Caldwell, Crittenden, Livingston, Lyon and Trigg counties that received approval in June 2023 for $34,715 in state funding. In May 2023, the Governor announced the location received Build-Ready certification.
Terri Bradshaw, president/CEO of the Kentucky Association for Economic Development (KAED), mentioned the parties that made the project possible: “KAED remains excited to be a part of this collaboration between the Governor, General Assembly, Kentucky Cabinet for Economic Development, our sponsors and the local communities in driving economic development and creating spaces to generate jobs across Kentucky. We look forward to partnering with Eddyville Industrial Park as they use this project to help bring new businesses, create jobs and boost local tax revenues in their community.”
Round 1 of the program concluded in December 2023, with 53 projects statewide approved for $31.2 million in funding. Including local contributions, these projects are generating over $123 million in investments in Kentucky’s sites and buildings portfolio.
To date, Round 2 of the program has seen $33.4 million in state support approved for 30 additional projects throughout the state.
