FRANKFORT, Ky. (Feb. 26, 2026) – Today, Gov. Andy Beshear announced further investment toward the state’s sites and building portfolio as 12 projects in 12 counties were approved for $13.5 million in state funding. These investments will improve Kentucky’s available sites and position communities for future investment and job creation.
The Kentucky Product Development Initiative, or KPDI, provides funding for local communities to boost investment in site and building upgrades to support future, well-paying jobs and economic growth across the commonwealth. This month’s approvals include projects that will receive funding through the KPDI Program of 2024, as well as projects that will benefit from recaptured funds tied to the KPDI Program of 2022.
The Adair County Fiscal Court on behalf of the Columbia-Adair County Economic Development Authority is seeking to construct a 40,000-square-foot speculative building within its Green River Commerce Park. The nearly $2 million project was approved for just under $1 million in state funding.
This is the first step in a process for the Adair County Economic Development Authority to obtain money to build a spec building. The grants as of today are 50-50 matching grants.
Larry Walker, EDA Chairman, said Kentucky legislatures have discussed changing the funding to 85 percent with 15 percent match for these grants. Adair County EDA would be obligated to fund around $300,000 toward the project if the legislation passes.
“For us it is still contingent on the monies getting approved for the 85-15 before we can build a building,” said Walker. “We get request for information from companies looking to locate and they will ask about existing buildings, and we don’t have anything to offer.”
