McCracken among counties getting state funding toward building development initiatives

McCracken County is among three counties across Kentucky receiving funding toward building development initiatives.

The Kentucky Product Development Initiative is issuing grants totaling $6 million toward projects designed to speed up the startup process for companies looking for sites to expand and develop in the Commonwealth. Carroll County, Henderson County, and McCracken County all have sites that could be key to additional economic development in their regions.

In McCracken County, the $2 million in funding is directed toward the construction of a 100,000-square-foot spec building in Industrial Park West. That building will have all utilities on site and would be nearly turnkey for a company to locate or expand in Paducah.

In July, the Paducah Board of Commissioners approved a municipal order to formalize plans to provide grant match funding for the construction. Greater Paducah Economic Development President and CEO Bruce Wilcox announced in June that Paducah had been successful in receiving the competitive grant from the Kentucky Product Development Initiative.

Upon the sale of the spec building, it is anticipated that the city will be reimbursed for its part of the investment.
 
The other grants will go toward a utility project in Carroll County and a due diligence study for a building in Henderson County.


Photo courtesy of Greater Paducah Economic Development