Beshear announces Kentucky to receive $2.1 billion

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The latest in a string of positive economic news, Gov. Andy Beshear announced Tuesday that 27 Kentucky Main Street Program communities finished last year strong with a reported $45.5 million cumulative investment in downtown commercial districts in 2020.

This total represents $28.1 million in private spending matched by $17.4 million in public improvements encompassing building rehabilitation, new construction, infrastructure and special projects offset by rehabilitation tax credits, grant funds and local city and county budgets.

Additionally, these communities finished the year with a net gain of 842 new jobs, 122 new businesses and 66 rehabilitation projects completed in Main Street districts.

The U.S. Department of the Treasury also announced this week that Kentucky will receive $2.183 billion from the American Rescue Plan Act of 2021 for the Coronavirus State Fiscal Recovery Fund, with the allotment smaller than an earlier estimate because of the state’s positive economic performance. The statewide program also recently announced that 23 communities achieved national accreditation for 2021 as certified by both Kentucky Main Street and the National Main Street Center.

These include Beattyville, Danville, Morehead, and Winchester. Participating affiliate programs are London, Paducah and the Tri-Cities of Cumberland, Benham and Lynch.