The city of Richmond, Kentucky is once again included in the latest round of funding awards from the state’s Kentucky Product Development Initiative (KPDI) of 2024. This is the third time for the city to be counted among the KPDI recipients.
These awards demonstrate the confidence the KPDI has in the city’s long-term investments over several years into its industrial park sites. The funding will allow the city of Richmond to expand its industrial footprint by 190 acres, creating a new business and industrial park.
Multiple phases of planning have resulted in positive positioning for the Richmond Industrial Development Corporation (RIDC) as observed by its Executive Director David Stipes.
“This new land can be developed quickly using the existing road network and utility infrastructure already put in place in the adjacent Industrial Park,” said Stipes.
The addition of build-ready property and anticipated growth will have an expanded impact beyond the city limits.
“The implementation of this project to acquire and develop new land for industrial development is not only important for Richmond, but also for other communities within a 13-county commuting area which supplies workers to our local businesses,” said RIDC President John McPhearson.
The future potential from continued growth is not lost on city leaders. City Manager Rob Minerich notes, “Duncannon Lane continues to be a golden corridor for industrial development with all the utility companies highly invested between Berea Road and the airport.”
Richmond Mayor Robert Blythe agrees.
“The City of Richmond is proud to receive this funding to help us continue doing what we’ve done over the last several years,” said Blythe.
“Our community continues to grow and much of the growth is due to our continued partnership with the state to seek to provide jobs and enhance the quality of life of our citizens,” Blythe concluded.
The state funding was announced by Kentucky Governor Andy Beshear in a July 31 news release (https://governor.ky.gov/news).
