Editor’s Note:This article was paid for and written by the Kentucky Cabinet for Economic Development and approved by Area Development.
In Kentucky, economic momentum is laying the groundwork for future growth. The past four years have marked an unparalleled period of economic success, with over 1,000 private-sector new-location and expansion projects announced, totaling more than $32.8 billion in investments and creating over 55,000 jobs.
This success stems from Gov. Andy Beshear’s leadership and the state’s business-friendly environment, including its ideal location, skilled workforce, and focus on speed-to-market initiatives.
Kentucky’s emphasis on site development has driven continuous investment in communities across the state. As the economy grows, so does the need for businesses to expand, bringing quality jobs and opportunities with them.
Leadership in Kentucky has aggressively addressed the growing demand for speed-to-market solutions, expediting project timelines in ways other states cannot match. This has opened doors to significant investment and job creation.
“In Kentucky, we know how important it is for your company to get up and running quickly,” Gov. Beshear said. “That is why we are working closely with existing businesses and prospective companies to ensure they have every advantage to start turning a profit as fast as possible. We’re growing together here in the commonwealth.”
Build-Ready and KPDI: Catalysts for Growth
Kentucky’s site selection initiatives, led by Build-Ready sites and the Kentucky Product Development Initiative (KPDI) program, are paving the way for future development.
In Kentucky, we know how important it is for your company to get up and running quickly. That is why we are working closely with existing businesses and prospective companies to ensure they have every advantage to start turning a profit as fast as possible.
KPDI, launched in partnership between the Kentucky Cabinet for Economic Development and the Kentucky Association for Economic Development, provides matching funds for communities to upgrade sites and buildings. During the program’s initial round, 82 projects were approved for over $62 million in funding, generating $426 million through local contributions. An additional $33 million was allocated this year to support 30 more projects.
In 2024, the General Assembly approved $70 million in KPDI funding to sustain the commonwealth’s economic momentum and provide prospective companies with high-quality sites that encourage growth.
Transformative Results
The KPDI program has supported transformative projects, including Build-Ready-certified sites, which ensure that construction can begin immediately. To qualify, sites must include essential infrastructure, a building pad, and permits for development.
In August, Kentucky announced its largest Build-Ready site in Henderson County, featuring a building pad with over 1.1 million square feet of available space. The $1.4 million project received $700,000 in KPDI funding.
To date, 12 Build-Ready sites have been selected for new-location projects, enabling companies to start operations efficiently while creating jobs for Kentuckians.
Adding to these resources is SelectKentucky.com, a comprehensive tool for site selectors to identify the perfect location for any project.
Kentucky’s commitment to speed-to-market development ensures the state remains a top choice for businesses, fostering continued economic success and high-wage job opportunities.
