The state of Kentucky approved $2 million in funding to support site development in Campbell County.
The Campbell County Fiscal Court, along with the Campbell County Economic Progress Authority, will assist with the development of a speculative site at the Southern Campbell County Industrial Park, located next to the Tyson Foods — Claryville Plant south of Alexandria.
The location is the first site to receive approval in the second round of the Kentucky Product Development Initiative — a program that financially supports upgrading infrastructure on industrial sites throughout the state in the hope that the improvements will help spur economic activity. The Cabinet for Economic Development oversees the initiative.
“Site and building development is essential to positioning Kentucky for future economic success,” Kentucky Gov. Andy Beshear said in a press release. “The funding this initiative provides gives communities across the state the opportunities and advantages required to have quality sites and buildings to attract growing companies across all industries.”
The state funds will provide nearly $2 million to the project, with the full scope totaling nearly $4 million. Round 1 of the program concluded in December 2023, with 53 projects statewide approved for $31.2 million in funding.
In December, Beshear announced 46 site and building development projects in 45 counties advanced to the due diligence stage of round two for further review, with $68.8 million available to support the projects.
“The PDI program provides critical funding for site development and we are excited for the Campbell County Economic Progress Authority to take another step forward in making the Southern Campbell County Industrial Park development-ready,” said BE NKY Growth Partnership CEO Lee Crume in a statement with LINK nky. “Having available sites is crucial for economic development success in Northern Kentucky.”