The newly established Kentucky Product Development Initiative is a statewide effort to support upgrades at industrial sites. It will ultimately include $100 million in state funding toward upgrades of sites and buildings across the state.
Local governments and economic development organizations requested the funding through a competitive application process earlier this year.
McCracken County Fiscal Court, on behalf of the Paducah McCracken County Industrial Development Authority, is extending sewers to the Ohio River Triple Rail Site. KPDI will provide $500,000, with the McCracken County Industrial Development Authority investing over $2.5 million in site upgrades.
Ballard County Fiscal Court, on behalf of the West Kentucky Regional Riverport Authority, is developing acreage for a new Kentucky riverport just south of the confluence of the Ohio and Mississippi Rivers. This is a regional project with support from Ballard and Carlisle counties.
The total anticipated project investment is $600,000, with $300,000 in funding approved for the site.
KPDI is a collaboration between the Kentucky Cabinet for Economic Development and Kentucky Association for Economic Development.
On the Net:
Background story on Ballard riverport project/Waterways Journal.net
