FRANKFORT, Ky. — Nearly $5.3 million in state funding has been approved for industrial site and infrastructure projects benefiting Trigg, Daviess, Bourbon and Nicholas counties, the Kentucky Economic Development Finance Authority announced. The funding comes through the Kentucky Product Development Initiative, a statewide effort to support upgrades at industrial sites throughout the commonwealth and position Kentucky for continued economic growth.

The three projects include additional development at the I-24 Business Park in Trigg County, work to prepare a 121-acre industrial site in Daviess County and infrastructure improvements at the regional industrial park serving Bourbon and Nicholas counties. Local funding will supplement the state investment.

"Team Kentucky is paving the way by investing in site development for communities across the state," Gov. Andy Beshear said in announcing the approvals. "These sites will attract quality businesses. Even more important: They will generate good-paying jobs for families throughout Kentucky."

The Cadiz-Trigg County Industrial Development Authority received $905,336 to continue development of the I-24 Business Park, including construction of a new access road providing direct access to 57 acres available for industrial development. Daviess County Fiscal Court received $1 million for the next phase of development at the Massie Site in Owensboro, with work including environmental studies, archaeological research and construction of an entrance and building pad. The largest award of nearly $3.4 million will support the Bourbon-Nicholas County Regional Industrial Park, funding infrastructure and site improvements including approximately 3,500 feet of gravity sanitary sewer infrastructure and grading of 40 acres in preparation for a potential future rail storage yard.

The KPDI program is a partnership between the Kentucky Cabinet for Economic Development and the Kentucky Association for Economic Development. State officials report that 51 companies have located on sites receiving funding through prior rounds of the initiative, representing more than $5.7 billion in capital investment and more than 7,400 jobs. The state and Kentucky General Assembly have allocated up to $220 million for the product development initiative.