The best ability is availability, and Kentucky checks that box when it comes to sites open and ready for future business.
As the commonwealth’s economy continues to grow, the number of businesses looking to locate and expand throughout the state has grown with it. Companies across the country and around the world are seeking to expand their operations to meet growing consumer demand, which has put a premium on shovel-ready, available sites.
One of the most important factors for decision-makers at businesses considering a new location is finding states capable of providing companies with quick and efficient turnaround times from the initial stages of the project to the start of operations.
Kentucky is home to sites of varying sizes, ready and equipped with utilities and unique location advantages that can suit the needs of any business. Each available piece of land is an opportunity for a business to locate, expand its operations and take the next step of growth in its New Kentucky Home.
“Ensuring that companies seeking to expand their operations have an upper hand by doing it here in Kentucky is critical to our state’s economy and workforce development,” Gov. Andy Beshear said. “Our ability to get companies operational quickly gives not only the company, but the commonwealth, a competitive advantage in the site selection process. Kentucky is known for its business-friendly environment, and having sites ready for growing businesses is a key factor. I am proud of the growth we’ve seen with speed-to-market during my administration, and I appreciate the local and state economic development officials for their continued dedication to the commonwealth’s success.”
From Pikeville to Paducah, the commonwealth has taken an aggressive approach to meeting these growing demands, preparing sites in every corner of the state that will allow businesses to expedite project timelines in a way many other states cannot. This advantage has opened the doors to continuing strong statewide economic growth through increased investment and job creation.
Build-Ready and Speed-to-Market Initiatives
Kentucky’s speed-to-market and site selection initiatives are spearheaded by its Build-Ready sites and Kentucky Product Development Initiative (KPDI), which are paving the way for future speedy development and economic growth.
The initiative is a collaboration between the Cabinet for Economic Development and the Kentucky Association for Economic Development (KAED). Through the KPDI, the state enables companies to quickly locate in Kentucky while mitigating the risks and delays normally associated with the construction process. This unique program was launched in partnership between the Kentucky Cabinet for Economic Development and the Kentucky Association for Economic Development (KAED) and provides funding for local communities to further invest in site and building upgrades to support future economic growth and bring well-paying jobs to Kentuckians.
The two rounds of the previous iteration of the initiative – the KPDI Program of 2022 – concluded earlier this year, with 90 projects statewide approved for over $85 million in funding. Including local contributions, these projects are generating over $512 million in investments in Kentucky’s sites and buildings portfolio.
To date, 48 companies have located on pilot PDI and KPDI funded sites, totaling over $5.7 billion in capital investment and creating over 7,300 new jobs.
The KPDI program is responsible for assistance for transformative site and infrastructure improvement projects, which include the development of Build-Ready sites.
With a Build-Ready site, much of the work – aside from construction – has already been completed. That includes controlling the land to be developed, completing archaeological, environmental and geotechnical studies, constructing a building pad, finishing preliminary design work, obtaining approved site plan permits and putting necessary infrastructure in place. On a Build-Ready site, construction can begin immediately.
To be certified as Build-Ready, a site must include a pad that can accommodate a building of 50,000 square feet, with the ability to expand to 100,000 square feet or more, and utilities extended to the site. Applicants – usually a city, county or economic development group – must have previously filed the necessary permits, as well as preliminary building plans, cost estimates and schedule projections. Applicants also are asked to provide a rendering of a potential building for the site.
The commonwealth is home to 28 available Build-Ready sites. Multiple other locations across the state are currently working toward certification.
To date, 12 former Build-Ready-certified sites – including tracts located in Barren, Butler, Christian, Graves, Hart, Laurel and Pulaski counties and five sites in Warren County – have been selected by companies for new location projects, allowing companies to bring their operations online in a cost-efficient manner while creating jobs for local Kentuckians.
Kentucky’s commitment to building its speed-to-market initiatives, allowing for companies to locate, expand and grow here in the commonwealth, is laying the foundation for a future of continued economic success and high-wage job opportunities throughout the state. These programs are already paying dividends, and Kentucky sits in a good position to build a brighter future through these early successes.
For more information on Kentucky’s KPDI program, visit ced.ky.gov/kpdi. To learn more about Build-
Ready sites and available locations, visit ced.ky.gov/BuildReady.
Making Businesses Feel Right at Home – their New Kentucky Home
Great companies need great people, and great people need great communities. And Kentucky has all three. Through the collaborative efforts of Team Kentucky, these available sites and properties throughout the state are providing companies with incredible opportunities to reach their full potential.
From Kentucky’s ideal geographic location to its skilled workforce and highly developed logistics and distribution infrastructure, the commonwealth’s wealth of business-friendly amenities and choice of site options are positioning the state to build a brighter future through its continued economic success.
We are excited to welcome businesses to their New Kentucky Home in whichever part of the state best fits their needs.
