Richmond Gets $249K State Grant for Industrial Park

The City of Richmond has secured $249,019 in state funding to build an entrance road to its new 190-acre industrial park. Governor Andy Beshear announced Thursday that Richmond was among 12 communities selected for the latest round of Kentucky Product Development Initiative funding. The Richmond Industrial Development Corporation will use the grant to construct an entryway from Duncannon Lane to Industrial Park IV. The city will match the state funds.

"This new industrial park is positioned on Duncannon Lane with a four-lane highway that directly connects to I-75 and has all utilities needed for new industry," said City Manager Rob Minerich. He thanked Mayor Robert Blythe and the city commission for supporting the industrial development corporation.

The KPDI program provides funding for site and building upgrades to attract employers and create jobs. This month's approvals include projects funded through the 2024 KPDI program and recaptured funds from the 2022 program.

Brad Sowden, executive director of the Richmond Industrial Development Corporation, called the KPDI program a game changer for Kentucky communities. "Without these funds, communities would not be financially able to develop investment-ready sites," Sowden said. "Speed to production is key to creating jobs and opportunities for our community."

The 190-acre Industrial Park IV represents the latest phase in Richmond's strategy to attract manufacturing and distribution operations. The entrance road will provide industrial access to the recently acquired acreage. The park's location on a four-lane highway with direct I-75 access and available utilities positions it to accommodate companies seeking quick site occupancy.

Design and construction timelines for the entrance road were not announced.