Graves, Caldwell counties get state funds for industrial park projects

Nearly $13 million in state funding has been approved for 10 site development projects across Kentucky, including significant investments in Graves and Caldwell counties.

Among the approved projects, Graves County received one of the largest allocations. The Graves County Fiscal Court will use $2 million to construct two 60,000-square-foot industrial spec buildings to attract manufacturers and logistics companies seeking immediate operational space.

In Caldwell County, the Princeton-Caldwell County Industrial Development Authority secured $90,000 to conduct due diligence on a 19-acre build-ready site in the industrial park in Princeton. Once completed, the site will be capable of supporting construction of a facility up to 100,000 square feet.

Emphasizing the need for prepared sites is a goal of the Kentucky Product Development Initiative, a program designed to prepare industrial sites for future business expansion and job creation. The program helps communities reduce the upfront risk and cost of preparing sites for industrial use.

To date nearly 100 projects have been approved under earlier funding rounds, generating more than $516 million in combined public and private investment. State officials report that 51 companies have already located on KPDI-supported sites, bringing over $5.7 billion in capital investment and creating more than 7,400 jobs.


Photo: Dignitaries from around the region were in Princeton on Friday for a formal unveiling of a new 100,000+ square-foot industrial building. (Crittenden Press)