Governor Andy Beshear announced on Thursday an additional investment in Kentucky’s build-ready, job-ready site development efforts as Lyon County has been approved to receive $2 million in state funding aimed at encouraging future investment and job creation.
During his Team Kentucky Update, Gov. Beshear said the funding for the spec building construction comes from the Kentucky Product Development Initiative (KPDI), managed by the Cabinet for Economic Development.
According to the Governor, 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. He emphasized that collaboration with local communities is key to setting up the commonwealth for long-term economic success.
click to download audioGov. Beshear announced that the location received Build-Ready certification in May 2023, highlighting it as the latest demonstration of their commitment to fostering economic prosperity across the state.
click to download audioAccording to Gov. Beshear, Round 1 of the program concluded in December 2023, approving 53 projects statewide with $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 approved $33.4 million in state support for 30 additional projects across the state.
