Governor's Office for Local Development
Edmonson County Awarded CEGG Funding
Governor Ernie Fletcher and the Governor’s Office for Local Development (GOLD) today announced that the Edmonson County Fiscal Court will receive $100,000 in funding from the Community Economic Growth Grant (CEGG) program.
The fund, which was established during the 2005 General Assembly as HB 267, provides nearly $10 million in grant funds to be allocated during the 2005-2006 biennium.
“The Community Economic Growth Grant exemplifies what is possible when the Executive Branch and the Legislature work in a bi-partisan manner,” said Governor Ernie Fletcher. “The infusion of these funds will result in over $99 million in successful projects across the Commonwealth.”
The Edmonson County Fiscal Court in partnership with Edmonson County Industrial Authority will purchase 50 acres of property at a cost of $250,000 to expand the available industrial sites in the county and to construct a new 24,000 square foot (SF) speculative (spec) building. The new property is within a half mile of the existing industrial park on Hwy. 31-W and within one and a half miles of the I-65 interchange at Park City.
The county’s current industrial park was developed in 1999 and they have sold three major sites to new industries. This progress has left little additional acreage for prospective tenants, especially those seeking more than 7-10 acres. The purchase of additional property would allow the Authority to market sites to a variety of companies. This would provide overflow from the Regional Transpark in Warren County an alternate location in the region.
Senator Richie Sanders (R-Franklin) said, “To give an example of how successful Edmonson County has been in the recent past, the previous spec building at the existing park was leased within one year of completion. With a new spec building would provide the Authority with additional marketing capabilities.”
Representative Terry Shelton (R-Magnolia) said, “These pieces will provide Edmonson County with the resources necessary for continued economic and industrial growth. As representative, I am very supportive of this project and know it will bring growth and development for the area.”
CEGG is administered by the Governor’s Office for Local Development through the Kentucky Community Development Office (KCDO). The goal of the program is to provide flexible funding to support and encourage the economic growth and viability of communities within the Commonwealth.
Counties, cities, special districts and school districts were eligible to apply for this year’s funding. Monies can be utilized for construction, acquisition of property, equipment purchase, industrial site development, infrastructure and capital improvement projects.