FRANKFORT, Ky. (March 27, 2023) - A webinar detailing Round 2 of the Kentucky Product Development Initiative has been scheduled for Thursday, March 30, at 2 p.m. EDT via Zoom. All potential applicants, including economic developers and local government officials across the state, are strongly encouraged to participate.
Participants can access the webinar here. No registration is required.
The webinar will provide information on the schedule and important deadlines for Round 2 of the KPDI program, an overview of the application and highlight the differences between the first two rounds, such as the maximum funding available for each county.
The KPDI program was established in 2022 through a collaboration between the Kentucky Cabinet for Economic Development and Kentucky Association for Economic Development (KAED). The initiative makes $100 million in state funding available to support potential upgrades to sites and buildings statewide and builds on Kentucky’s historic economic momentum.
The program’s initial round received significant participation statewide with 54 site and building development projects requesting nearly $34 million in state funding currently in the due diligence stage. The Kentucky Cabinet for Economic Development is now reviewing each project for a recommendation of approval by the Kentucky Economic Development Finance Authority (KEDFA) in the coming weeks and months. Round 1 projects will be announced once they are approved by KEDFA.
Through the KPDI program, local governments and economic development organizations throughout the commonwealth can seek funding assistance for transformative site and infrastructure improvement projects. These projects will help attract quality employers to the state and generate increased economic development opportunities and job creation for Kentucky residents.
During the 2022 regular session of the Kentucky General Assembly, the state legislature and Gov. Andy Beshear approved funding for the KPDI program to ensure the commonwealth furthers its recent economic success and provides prospective companies with high-quality sites and buildings to encourage continued growth and job creation.
Submit questions about the KPDI program and upcoming webinar to KPDI@kaedonline.org.
To learn more about the KPDI program, visit KPDI.ky.gov.
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