Knox County gets $250,000 state grant for due diligence study on site for proposed industrial park

Gov. Andy Beshear has awarded a $250,000 grant to Knox County to conduct due diligence studies as community leaders explore options to establish a new industrial park. The funding will come from Team Kentucky’s site and building development efforts.

“Site and building development are crucial to Kentucky’s ability to attract new business and industry,” Beshear said. “When communities like this one in Knox County commit to building that infrastructure, we see growth and progress in the state. I want to congratulate Knox County on this grant and look forward to working with the community as they conduct due diligence on the site.”

The Knox County Industrial Authority is seeking to purchase approximately 1,550 acres with plans to develop a new business park.

Knox County Judge-Executive Mike Mitchell said that the property is located on the northbound side of US25E at the 18-mile marker. It’s located at foot of Gilliam Hill. The large site connects to KY 229 on one side. KY 229 runs from Barbourville to London.

With the Southern Kentucky Business Park nearing full capacity, it is vital for the community to establish a new park to recruit business and industry to the region. The new project was approved for a $250,000 grant during a recent Kentucky Economic Development Finance Authority (KDEFA) meeting.

Knox County Fiscal Court will contribute an additional $6,800 toward the project to conduct due diligence at the site.

Mitchell thanked the partnerships that have made the project possible.

“We are extremely excited to see this project moving forward. This potential industrial park is something we have been working on since the beginning of my first term as judge-executive. The future Knox County Industrial Park will have a generational impact on Knox and surrounding counties,” Mitchell said.

“It is our hope to create a better quality of life for the residents of Knox County, and we are excited to get this project started. Projects of this magnitude require support from all our community partners. I’d like to thank my staff and Bruce Carpenter, executive director, Southern Kentucky Economic Development Agency. They have worked tirelessly to make this project a reality. At the state level, Rep. Tom Odell Smith has been a strong advocate for this project. Senate President Robert Stivers and Gov. Beshear have both shown unwavering support. Congressman Hal Rogers has continued to be a constant in supporting economic growth in our region.”

Carpenter mentioned the need for a new business park.

“I am both pleased and grateful to the KEDFA board for approval for a grant to complete due diligence studies on a potential new industrial park site in Knox County,” Carpenter said. “An additional industrial park is much needed in Knox County to recruit new industry and bring good-paying jobs to our community. Thank you to the KEDFA Board, Secretary Jeff Noel and the Cabinet for Economic Development for recognizing the importance and benefit of a new industrial park.”