RICHMOND, Ky. (WTVQ) – A state grant will help Richmond and Madison County turn almost 22 acres into a shovel-ready site for a potential industry and new jobs.
The Richmond Industrial Development Corporation Board of Directors approved the next step in the project during a meeting Tuesday morning. The work is on a lot in the group’s existing South Industrial Park (Click here to view map Richmond-Industrial-Park-South-III-SITE-PLAN-MAP-November-2017 .)
RIDC Executive Director David Stipes says Tuesday’s action will finalize and agreement between the city and the board on land grading and site development to make the community, “Be able to compete better.”
Stipes said Richmond was selected in November for the project. The program was announced in 2019 and came through the Kentucky Association for Economic Development, according to Stipes.
The program allows communities to apply for funds to be used for things like development of infrastructure, parks, to improve marketability of land, etc.
Stipes says the industrial park site in consideration spans 21 acres. He says the city plans to prep the site and pour a building pad to better be able to market the community tom potential industries and job creators.
He stressed the city doesn’t have any prospects at this point.
Stipes said close to 50 applications were considered, but only nine sites were funded including Richmond in the $300,000 match program with state and local monies.
Once the agreements are signed, the board needs approval from the Kentucky Economic Development Finance Authority, which meets later this month.