FRANKFORT, Ky. — A webinar detailing the first round of the Kentucky Product Development Initiative (KPDI) Program of 2024 has been scheduled for Tuesday, September 26, at 1:30 p.m. EDT via Zoom. All potential applicants, including economic developers and local government officials across the state, are strongly encouraged to participate.
During this year’s regular session of the Kentucky General Assembly, the state legislature and Gov. Andy Beshear approved $70 million in funding for the KPDI Program of 2024 to ensure the commonwealth furthers its recent economic success and continues to provide prospective companies with high-quality sites and buildings to encourage future growth and job creation.
Cities, counties and some multijurisdiction applicants can seek matching state funding to perform site preparation, infrastructure construction and more to make property attractive to business prospects ready to grow their operations quickly
Under the initial 2022 iteration of the program, 82 projects throughout the commonwealth have been approved for over $62 million in support that, including local contributions, has generated over $426 million toward Kentucky’s sites and buildings portfolio.
Most administration of KPDI is delegated to Kentucky Association for Economic Development (KAED). Participants can access the Thursday webinar here. No registration is required.
The webinar will provide information on the schedule and important deadlines for the KPDI Program of 2024, including an overview of the RFI Documentation process and highlighting the differences between this year’s initiative with the two rounds of the KPDI Program of 2022.
The site and building development program was established in 2022 through a collaboration between the Kentucky Cabinet for Economic Development and KAED. The initiative provides funding for local communities statewide to increase investment in site and building upgrades to attract future job creation and economic growth.
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.
Submit questions about the KPDI program and upcoming webinar to KPDI@kaedonline.org.
To learn more about the KPDI program, visit KPDI.ky.gov.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
Read about other key updates, actions and information from Gov. Beshear and his administration at governor.ky.gov and the Governor’s official social media accounts Facebook, Twitter and YouTube.
