Gov. Beshear: $12.98 Million in State Funding Approved for Projects Supporting Site Development Efforts in 11 Counties

10 projects approved in latest round of Kentucky Product Development Initiative

FRANKFORT, Ky. (April 30, 2026) - Today, Gov. Andy Beshear announced further momentum within the state's speed-to-market and site development initiatives as 11 projects supporting future job growth and investment across 11 counties were approved for $12.98 million in state funding to improve Kentucky's available sites. The counties seeing new site development projects include Caldwell, Fleming, Floyd, Graves, Hardin, Johnson, Lyon, Marion, McCreary, Mercer and Pendleton counties.

"The commonwealth has long been in the lead on investing in site and building development initiatives, laying the groundwork for continued economic momentum and future job opportunities," said Gov. Beshear. "Our speed-to-market efforts are one of many reasons businesses continue to choose this great state to locate, expand and invest. Congratulations to these 11 communities on their approvals. I am excited to see the future investment, economic growth and jobs they will help secure."

The Kentucky Product Development Initiative (KPDI) provides funding for local communities to boost investment in site and building upgrades to support future, good-paying jobs and economic growth across the commonwealth. This month's approvals include projects that will receive funding through the KPDI Program of 2024.

Approved projects include:

The Princeton-Caldwell County Industrial Development Authority (PCCIDA) plans to conduct due diligence on a new Build-Ready site on Tract No. 5, an approximately 19-acre greenfield site in the PCCIDA Industrial Park in Princeton. Upon completion of the project, PCCIDA will have a qualified Build-Ready site capable of supporting the construction of an up to 100,000-square-foot speculative or purpose-built industrial facility. The project was approved for $90,000 in state funding.

The Fleming County Fiscal Court, on behalf of the Flemingsburg-Fleming County Industrial Authority, is planning to use state funding to complete a Build-Ready site plan accessible from Kentucky Route 11. The project includes the installation of curbing, guttering, asphalt paving, storm drainage infrastructure and site preparation to support the development of a 100,000-square-foot parking area. The project was approved for nearly $667,000 in state funding.

The Floyd County Fiscal Court is planning to complete due diligence at the Allen Rail Site. The following due diligence studies will be conducted: ATLA/NSPS Survey, Title & Easements Legal Review, Phase I ESA, Phase II ESA, Brownfield Liability Filings, Archaeological Records Review, Threatened & Endangered Species, Geotech & Mine-Land Investigation, Mine-Subsidence Mapping/Review, Impoundments & Water Quality, Conceptual Master Planning and Wetland Delineation. The project was approved for nearly $205,000 in state funding.

The Graves County Fiscal Court, on behalf of Graves County Economic Development, is developing two 60,000-square-foot spec buildings to further the industrial area. The project was approved for $2 million in state funding.

The Elizabethtown-Hardin County Industrial Foundation and the city of Elizabethtown are partnering to focus on critical site readiness improvements, including the extension of utilities, roadway access, grading and other essential infrastructure needed to prepare the Gil Nicely Sr. Industrial Park for future industrial development. The enhancements are designed to ensure the site meets the standards and expectations of modern manufacturing and logistics operations, making it more competitive for new and expanding industries. The project was approved for $2 million in state funding.

One East Kentucky, on behalf of the Johnson County Fiscal Court, is planning to complete construction of a spec building, relocate a county-owned road and excavate/fill a corner of the property, elevating it out of a flood zone. The project was approved for $2 million in state funding.

The Eddyville Riverport and Industrial Development Authority is acquiring approximately 58 acres adjacent to the Eddyville Industrial Park that will support the development of additional rail-served tracts between 5 and 10 acres. The property will allow for construction of a new rail spur parallel to the existing Paducah and Louisville Railroad and develop multiple smaller rail-served sites. The project was approved for over $75,000 in state funding.

The Marion County Fiscal Court, on behalf of the Marion County Industrial Foundation, plans to use the funds to support the development of the Crossroads Development Site. The three-phase project includes completion of the access road, grading and fill work for approximately 219 acres located along the right side of the bypass, and development of an additional 52 acres to enhance sanitary sewer and stormwater infrastructure. The project was approved for $2 million in state funding.

The McCreary County Industrial Development Authority is planning improvements to Lot 2 of the McCreary County Business Park to bring it to a certified Build-Ready status and to relocate an existing sewer line that runs through the middle of Lot 3. The McCreary County Business Park is an existing industrial park that presently has Shovel Ready status. The project was approved for $343,000 in state funding.

The Harrodsburg/Mercer County Industrial Development Authority is designing and constructing critical water and sewer infrastructure for the Bluegrass Innovation Gateway Megasite in Mercer County. With the help of KPDI, the authority will be able to construct a 16-inch water main as well as the force main sewer line and regional pump station necessary to serve the site. The project was approved for $2 million in state funding.

Pendleton County Industrial Development Authority plans to use funding to support critical work needed to advance the Pendleton County Commerce Park. Specific activities include updating infrastructure and completing a dirt pad required to move the site toward certified Build-Ready status. The project was approved for $1.6 million in state funding.

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 Kentucky Cabinet for Economic Development (CED). 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.

Including projects approved last month that use remaining funds, the two rounds of the previous iteration of the initiative - the KPDI Program of 2022 - have almost 100 projects approved statewide for nearly $93 million in funding. Including local contributions, these projects have generated over $516 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.

The initiative is a collaboration between the CED 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, spoke on the important role of the initiative in Kentucky's site development efforts: "KPDI plays a vital role in helping communities identify and prepare sites - an essential step in attracting new industries and jobs. Without product ready to market, we simply can't compete. By supporting proactive site development and reducing risk for future investors, KPDI strengthens Kentucky's position for high-impact projects. We're excited to see the opportunities ahead for these communities that took the initiative to invest in land and buildings."

To date, Gov. Beshear and the Kentucky General Assembly has allocated $220 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.

Investment in site development throughout Kentucky furthers what has been the best six-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,300 private-sector new-location and expansion projects totaling over $50 billion in announced investments, creating more than 70,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth's history and $29 billion more than the next highest total.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the battery capital of the United States: AESC's $2 billion, 2,000-job gigafactory project in Warren County; Ford Motor Co.'s $2 billion, 2,200-job commitment in Louisville, as well as its $2 billion, 2,100-job project at the Kentucky 1 plant in Hardin County; Shelbyville Battery Manufacturing's $712 million investment, creating 1,572 jobs in Shelby County; and Toyota's $1.3 billion investment in Scott County, among others.

The Governor's administration also secured 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, S&P Global Ratings and Moody's Investors Service.

Earlier this year, Site Selection magazine ranked 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 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 a new initiative, called New Kentucky Home, 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. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.