A state program focused on economic development is giving a half-million dollar boost to the Cadiz-Trigg County Industrial Development Authority’s efforts to expand their industrial park.
The announcement was made Tuesday through a release from Gov. Andy Beshear’s office. The grant is a part of the state’s Product Development Initiative which helps further site selection and building development initiatives across the commonwealth.
In the release, Beshear said the site selection process plays a critical role in bringing beneficial opportunities to Kentucky.
“Continuing to invest in areas that give the commonwealth an advantage in site and building development will continue to be a top priority,” Beshear said. “I am excited to announce this addition to our state’s speed-to-market efforts and am looking forward to the future success of the site and the quality jobs it will bring to the surrounding communities.”
The grant funds will go towards covering the cost of a $3.5 million addition to the Cadiz-Trigg County Industrial Park. The IDA plans to create a new 100,000 square foot speculative building in hopes of attracting new businesses to the area.
Cadiz Mayor Todd King said he’s appreciative of the support from the state government and looks forward to all the great boons he expects from the new expansion.
“We understand that having ready sites and buildings can be critical to a community’s economic development efforts,” King said. “This building will bring in new business that will make Cadiz/Trigg County their home, offer new job opportunities and produce a substantial impact on our community.”
South Western Kentucky Economic Development Council director Carter Hendricks said the new building could be an exciting opportunity for the community.
“We are already working with our partners to recruit the next awesome company to take advantage of this speed-to-market site, strong regional workforce, amazing quality of life and low cost of living,” said Hendricks.
The investment from the state government continues what Beshear’s office described as record-breaking economic growth for the commonwealth over the past year, adding to the $7.5 billion invested in Kentucky’s manufacturing industry so far in 2022.
