Editor's Note: This contributed content was written by the Kentucky Cabinet and was approved for publication by Area Development.
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 considering a new location is finding states capable of providing quick and efficient turnaround times from the initial stages of a project to the start of operations.
“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. “The commonwealth 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 allow businesses to expedite project timelines in ways many other states cannot.
Build-Ready and Site Development Programs
Kentucky’s speed-to-market and site selection initiatives are spearheaded by its Build-Ready sites and the Kentucky Product Development Initiative, which give the commonwealth a key advantage over competing states for businesses looking to locate or expand operations quickly and efficiently.
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The Kentucky Product Development Initiative is a collaboration between the Cabinet for Economic Development and the Kentucky Association for Economic Development. Through the program, the state enables companies to locate in Kentucky while mitigating risks and delays normally associated with the construction process. The initiative provides funding for local communities to invest in site and building upgrades to support future economic growth and bring well-paying jobs to Kentuckians.
Two rounds of the previous iteration of the program in 2022 approved 96 projects statewide for nearly $90 million in funding. Including local contributions, those projects have generated more than $512 million in investments in Kentucky’s sites and buildings portfolio.
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.
To date, 51 companies have located on pilot Product Development Initiative and Kentucky Product Development Initiative-funded sites, totaling more than $5.7 billion in capital investment and creating more than 7,400 new jobs.
The Kentucky Product Development Initiative also supports transformative site and infrastructure improvement projects, including the development of Build-Ready sites.
With a Build-Ready site, much of the work — aside from vertical construction — has already been completed. That includes site control, archaeological, environmental and geotechnical studies, construction of a building pad, preliminary design work, approved site plan permits and necessary infrastructure installation. On a Build-Ready site, construction can begin immediately.
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To be certified as Build-Ready, a site must include a pad capable of accommodating a 50,000-square-foot building, with the ability to expand to 100,000 square feet or more, and utilities extended to the site. Applicants — typically a city, county or economic development organization — must have filed necessary permits, preliminary building plans, cost estimates and schedule projections. A rendering of a potential building also is required.
The commonwealth is home to 30 available Build-Ready sites, with multiple additional locations working toward certification.
To date, 12 former Build-Ready-certified sites — including tracts 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. These sites allow companies to bring operations online efficiently while creating jobs for local communities.
I am proud of the growth we’ve seen with speed to market during my administration.
Kentucky’s continued investment in speed-to-market initiatives is laying the foundation for sustained economic growth and high-wage job opportunities across the state. These programs are already generating measurable results, positioning the commonwealth for continued success.
For more information on the Kentucky Product Development Initiative, visit newkentuckyhome.ky.gov/kpdi. To learn more about Build-Ready sites and available locations, visit newkentuckyhome.ky.gov/BuildReady.
