Governor Andy Beshear has announced a $500,000 grant to the Cadiz-Trigg County Industrial Development Authority to support upgrades totaling $3.5 million for industrial park development and spec building construction.
A news release says the grant is through the state’s pilot Product Development Initiative program which helps further site selection and building development initiatives across the state.
The $3.5 million in upgrades will help construct a 100,000-square-foot speculative building expandable to 200,000 square feet on a 15-acre certified build-ready pad site at Interstate 24 Business Park.
South Western Kentucky Economic Development Council Executive Director Carter Hendricks says construction of a spec building will allow leaders to more effectively recruit an industry to a facility where they can move in and open quickly.
The remainder of the funding for construction is coming from additional grant money from TVA and financing by the Trigg County Industrial Development Authority.
Hopkinsville’s spec building in Commerce Park #1 recently sold to Elevate Windows and Hendricks says he believes that success can be replicated in Cadiz.
He thanked Governor Beshear and Economic Development Cabinet Secretary Jeff Noel for helping to make the grant happen.
Cadiz Mayor Todd King says, “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.”
Trigg County Judge-Executive Hollis Alexander says, “We are making this investment because we believe in the future of our community as we strive to create jobs and opportunities for our residents.”