FRANKFORT, Ky. (April 2, 2026) – Today, Gov. Andy Beshear announced further momentum within the state’s speed-to-market and site development initiatives as 16 projects supporting future job growth and investment across 18 counties were approved for $12.4 million in state funding to improve Kentucky’s available sites.
“Kentucky continues to 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 business-friendly elements that separate the commonwealth from its competitors, and why businesses continue to choose this great state to locate, expand and invest in. Congratulations to these 18 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, well-paying jobs and economic growth across the commonwealth. This month’s approvals include projects that will receive funding through the KPDI Program of 2024, as well as projects that will benefit from recaptured funds tied to the KPDI Program of 2022.
Approved projects include:
The Morgantown Industrial Holding Corp. is requesting support to construct a new industrial access roadway within the Morgantown Industrial Park area in Butler County. The project was approved for $360,000 in state funding.
The Fulton County Fiscal Court, on behalf of the Fulton County Industrial Development Authority, is performing due diligence for Enterprise Park. The project was approved for $45,000 in state support.
The Magoffin County Fiscal Court is seeking to complete due diligence studies to acquire more land to expand the present Gifford Industrial Park. The project was approved for $65,700 in state support.
Central Kentucky Business Park Authority Inc. is seeking to conduct due diligence studies at the Triple Crown Business Park located in Berea. This is a regional project with support from Fayette, Madison and Scott counties. The project was approved for $104,640 in state funding.
The Cynthiana-Harrison Economic Development Authority is working on infrastructure and road improvements to the White Oak property located at the intersection of U.S. Highway 27 and Kentucky Highway 356, to make the site more accessible. The $2.3 million project was approved for $2 million in state support.
The Todd County Industrial Foundation is looking to prepare two 100,000-square-foot building pads at the 24-acre John E. Walton Business Park. The project was approved for over $1.1 million in state funding.
The Hopkinsville Industrial Foundation is seeking to conduct infrastructure improvements at Commerce Park II 1,000+ Acre Rail Site in Christian County. The project was approved for $1.7 million in state funding.
The city of Somerset, on behalf of the Somerset-Pulaski County Economic Development Authority Inc., is requesting funds to develop a Build-Ready pad at Commerce Park. The nearly $2.7 million project was approved for $2 million in state support.
The Washington County Fiscal Court, on behalf of the Springfield-Washington County Economic Development Authority (SWEDA), is requesting funding for the acquisition of property, infrastructure/road extension and enhancement of 28 acres that join the 32 acres currently owned by the SWEDA. The project was approved for $597,125 in state support.
The Breckinridge County Fiscal Court on behalf of Breckinridge County United Inc. is requesting funding for the acquisition of infrastructure and road improvements on an 81-acre site currently owned by Breckinridge County United Inc. The project was approved for $318,237 in state funding.
The Harlan County Economic Development Authority is seeking funding for preconstruction due diligence activities on its16-acre site to ensure the property is suitable for development. The project was approved for $96,000 in state support.
The Pike County Fiscal Court is seeking funding to complete the installation of utilities at the Wolfpit Industrial & Technology Park. The project was approved for $491,550 in state support.
The Russell County Industrial Development Authority (RCIDA) is planning to acquire nearly 68-acres of industrial land that will allow the RCIDA to market and attract new business. The project was approved for over $1.2 million in state funding.
The Bourbon County-Nicholas County Joint Economic Development Authority is planning site improvements to the recently established Bourbon County-Nicholas County Regional Industrial Park. This is a regional project with support from Bourbon and Nicholas counties and was approved for nearly $2 million in state funding.
The Magoffin County Fiscal Court is seeking to acquire land to expand the present Gifford Industrial Park. The project was approved for $285,000 in state support.
The Ballard County Fiscal Court, on behalf of the city of Wickliffe, is performing due diligence on a 30-acre site along the Mississippi River. The project was approved for $50,000 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 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.
Including projects approved last week 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 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 important role KPDI plays in the state’s economic success: “KPDI is designed to give Kentucky the competitive edge it needs to win major economic development projects on the national stage. These investments empower local developers to stand out and play a critical role in our long-term growth strategy. KPDI is already delivering transformative results for our economy, and I’m excited to see its continued impact in these 18 communities across the commonwealth.”
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.
Investment in site development throughout Kentucky builds on 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 $48.2 billion in announced investments, creating more than 69,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $27 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.
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