In a groundbreaking announcement on Thursday, Judge-Executive Kota Young celebrated a day of significant progress, initiating the first steps toward building a new industrial facility in the Industrial Park for the first time in nearly three decades.
The developments emerged after three separate special meetings convened by the Caldwell County Fiscal Court, the Princeton City Council, and the Princeton-Caldwell County Industrial Development Authority.
Judge Young said that the project is named New Industrial Building Project 4, continuing the tradition of naming buildings sponsored by the Princeton-Caldwell County Industrial Development Authority, following Spec Building 3, which was constructed in 1998.
Young, who also chairs the Princeton-Caldwell County Industrial Development Authority, said that the only reason they were able to get to this point is because of their efforts in securing a $4 million Kentucky Product Development Initiative grant.
He explained that the only reason they were able to get the $4 million was because of the participation of Crittenden County.
click to download audioHe stated that it has been a long journey to get to this point and what occurred Thursday was the city and county committing to the industrial future of the community, supporting the efforts of the Industrial Development Authority.
click to download audioJudge Young further emphasized that this construction project marks the beginning of many great things to come.
click to download audioDuring the three separate meetings held Thursday afternoon, the Fiscal Court, City Council, and Industrial Development Board approved a basic incentive agreement. This agreement allows Young to negotiate with potential tenants for the facility and sets the stage for marketing it to prospective interests both now and in the future, ensuring that they see development take place as quickly as possible and the community to reap the benefits.
