Kentucky State Seal

 

*OFFICE OF GOVERNOR ANDY BESHEAR*

*COMMONWEALTH OF KENTUCKY*








*FOR IMMEDIATE RELEASE*




*Contact:* 

*Scottie Ellis
502-401-6933*

*Brandon Mattingly
502-782-2006*






Gov. Beshear: Over $700,000 Approved To Boost Site and Building Development, Support Job Growth in 4 Counties

""""Projects are part of latest round of the Kentucky Product Development Initiative of 2024""""

*FRANKFORT, Ky. (Sept. 4, 2025) *– Today, Gov. Andy Beshear announced exciting new momentum within Kentucky’s speed-to-market initiative, as over $700,000 in state funding was approved to support site and building development projects in Breckinridge, Washington, Kenton and Todd counties.

“The commonwealth’s commitment to its site and building development initiatives is setting up our communities for future investment and job opportunities,” said *Gov. Beshear*. “When companies are looking for their next location to grow or relocate, we want them to know Kentucky has the space, resources and workforce available. The KPDI program is critical to the commonwealth’s long-term success, and I am excited to see this next group of projects moving forward.”

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 five projects across four counties.

The Breckinridge County Fiscal Court, on behalf of the Breckinridge County United Inc., is planning to use KPDI funds to extend a waterline 1,150 feet to the Irvington Industrial Park.

Springfield/Washington County Economic Development Authority Inc. is planning to develop a 20-acre site into a shovel-ready site. The authority plans to extend existing infrastructure and roadway further into the site, so the entire property has access to natural gas, water and a paved access road. The site upgrades will also include work to add a sewer pump station.

The Springfield/Washington County Economic Development Authority Inc. (SWEDA) is also pursuing a due diligence study on 25 acres that adjoins 32 acres currently owned by SWEDA. This study will allow SWEDA to take the necessary steps to ensure that this additional land is a worthwhile investment, which could lead to property acquisition creating a nearly 60-acre future industrial site location along U.S. Highway 150 in Washington County.

The city of Erlanger in Kenton County is seeking funding to support critical site preparation for the redevelopment of a key corridor to Eons Adventure Park. This area, situated just outside its Tax Increment Financing (TIF) district, holds potential for economic revitalization and community enhancement. With strategic investment, this site will become a cornerstone for attracting high-value businesses for fostering long-term growth.

The Todd County Fiscal Court, on behalf of the Todd County Industrial Foundation, is performing due diligence studies on the Robertson Property adjacent to the John E. Walton Business Park.

Currently, $35 million is available for projects entering the due diligence stage in the latest round of KPDI. The projects have been reviewed by a third-party, independent site selection consultant, which evaluated, scored and submitted project recommendations to the Cabinet for Economic Development. The cabinet will consider each project and complete the final stage of due diligence for a recommendation of funding approval by the Kentucky Economic Development Finance Authority in the coming months. Projects across 25 counties are moving on to the due diligence stage, and the projects announced today are part of the third round of approvals.

The two rounds of the previous iteration of the initiative – the KPDI Program of 2022 – concluded earlier this year, with 90 projects statewide approved for over $85 million in funding. Including local contributions, these projects are generating over $512 million in investments in Kentucky’s sites and buildings portfolio.

To date, 48 companies have located on pilot PDI and KPDI funded sites, totaling over $5.7 billion in capital investment and creating over 7,300 new jobs.

The initiative is a collaboration between the Cabinet for Economic Development and the Kentucky Association for Economic Development (KAED). It provides state support for potential upgrades to sites and buildings across the commonwealth to ensure Kentucky remains a prime location for growing companies across all industry sectors.

*Terri Bradshaw*, *president and CEO of KAED*, highlighted the importance of the program: “KPDI is a critical tool that helps Kentucky stay competitive for transformative economic development projects that create lasting impact in our communities. I'm excited to see these funds warded to Breckinridge, Washington, Kenton and Todd counties, and I look forward to the progress and opportunity they will help unlock in the years ahead.”

To date, Gov. Beshear and the Kentucky General Assembly have approved up to $170 million in funding for the initiative.

Site and building development projects are first evaluated by an independent consultant based upon all facets a prospective company would consider, from workforce availability, access to all infrastructure and detailed information on costs associated with development.

Learn more about KPDI at kpdi.ky.gov [ [link removed] ].

Investment in site development throughout Kentucky builds on the best five-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,200 private-sector new-location and expansion projects totaling over $43 billion in announced investments, creating more than 63,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and over $18 billion more than the next highest total.

The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park [ [link removed] ] in Hardin County; AESC [ [link removed] ]’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota [ [link removed] ]’s $1.3 billion investment in Scott County; Ford Motor Co. [ [link removed] ]’s $2 billion, 2,200 job commitment in Louisville; and Shelbyville Battery Manufacturing [ [link removed] ]’s $712 million investment, creating 1,572 jobs in Shelby County, among others.

The Governor’s administration also secured [ [link removed] ] the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings [ [link removed] ], S&P Global Ratings [ [link removed] ] and Moody’s Investors Service [ [link removed] ].

Earlier this year, Site Selection magazine ranked [ [link removed] ] Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2024 Governor’s Cup rankings. Site Selection also placed [ [link removed]. ] Kentucky second in the South Central region and No. 6 nationally in its 2025 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear also announced [ [link removed] ] a new initiative, called New Kentucky Home [ [link removed] ], to increase economic investment, attain and attract talent, and increase tourism across the state.

Information on Kentucky’s economic development efforts and programs is available at "NewKentuckyHome.ky.gov" [ [link removed] ]. Fans of the Cabinet for Economic Development can also join the discussion at "facebook.com/CEDkygov" [ [link removed] ]", on Twitter ""@CEDkygov" [ [link removed] ]", Instagram ""@CEDkygov" [ [link removed] ]" and ""LinkedIn" [ [link removed] ].

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