Beshear: Projects Supporting Future Job Growth in 12 Counties Approved

Gallatin County among the counties receiving funding.

(Frankfort, Ky.) - Governor Andy Beshear has announced further investment toward the state's sites and building portfolio as 12 projects in 12 counties were approved for $13.5 million in state funding. 

The Kentucky Product Development Initiative, or KPDI, provides funding for local communities to boost investment in site and building upgrades to support future, well-paying jobs and economic growth across the commonwealth. This month’s approvals include projects that will receive funding through the KPDI Program of 2024, as well as projects that will benefit from recaptured funds tied to the KPDI Program of 2022.

“The investment we make now in our speed-to-market initiatives leads to future economic growth and job creation for our communities,” said Gov. Beshear. “Kentucky’s long-term economic success is fueled by the growth of our site and building development programs, and this groundwork further establishes the commonwealth as one of the most business-friendly states for prospective companies. I want to congratulate these 12 communities on today’s approvals and look forward to seeing the future business they attract.”

Local approved projects:

The Gallatin County Fiscal Court is seeking to conduct environmental evaluations, archaeological studies, geotechnical analysis, surveying and related due diligence required to advance the airport property to a higher level or development readiness. The nearly $100,000 project was approved for $85,000 in state funding.

The Gallatin County Fiscal Court is also seeking to direct engineering design, permitting and construction of the water, wastewater and natural gas extensions necessary to support aviation-related, industrial and commercial development of the airport property. The nearly $1.5 million project was approved for over $1.3 million in state funding.

Including projects approved this week that utilize remaining funds, the two rounds of the previous iteration of the initiative – the KPDI Program of 2022 – have had 96 projects approved statewide for nearly $90 million in funding. Including local contributions, these projects have generated over $512 million in investments in Kentucky’s sites and buildings portfolio.

To date, 51 companies have located on pilot PDI and KPDI funded sites, totaling over $5.7 billion in capital investment and creating over 7,400 new jobs.