A webinar is scheduled for July 17 to provide information on the second round of the Kentucky Product Development Initiative (KPDI) of 2024. The session will be held at 9 a.m. EDT via Zoom and is open to potential applicants, including economic developers and local government officials across the state.
The webinar aims to offer details on the RFI process and important deadlines for this latest round of KPDI, which is known as the state's flagship build-ready, job-ready site development program. Participants can join without registration.
The KPDI was established in 2022 through a partnership between the Kentucky Cabinet for Economic Development and the Kentucky Association for Economic Development (KAED). The program provides funding to local communities statewide to enhance site and building upgrades, thereby attracting future job creation and economic growth.
Earlier this year, the previous iteration of KPDI concluded with support for 90 projects throughout Kentucky. These projects received over $85 million in support, which along with local contributions, has generated more than $512 million toward improving Kentucky's sites and buildings portfolio.
Through KPDI, local governments and economic development organizations in Kentucky can seek funding assistance for transformative site and infrastructure improvement projects. These efforts aim to attract quality employers to the state and create increased economic development opportunities and jobs for residents.
During the 2024 regular legislative session, the General Assembly and Governor Andy Beshear approved $70 million in funding for KPDI 2024. This investment aims to continue Kentucky's recent economic success by providing prospective companies with high-quality sites and buildings that encourage future growth and job creation.