PLANS FOR NEW REGIONAL BUSINESS PARK UNDER WAY

Frankfort, Ky. - Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong announced today that Paradise Regional Business Park is one step closer to reality for Muhlenburg, Ohio, Daviess and McLean Counties.

The Kentucky Economic Development Finance Authority (KEDFA) approved a $100,000 Multi-County Local Government Economic Development Fund (LGEDF) grant last year for a detailed engineering study and analysis, pertaining to industrial property that at the time was under consideration for a regional business park in Muhlenburg County.

On January 29, 2004, KEDFA approved funds to actually implement the regional business park project. The Paradise Park Regional Industrial Authority was approved for an additional $1 million in Multi-County funds for land acquisition and infrastructure development. This approval included the purchase of approximately 249 acres (Howerton Farm). The actual land was purchased and transferred to the Authority on August 11, 2004.

"It is critically important that we provide support to the Paradise Regional Business Park so that we can attract good-paying jobs to Western Kentucky," stated Governor Fletcher.  "My administration is committed to growing jobs throughout the Commonwealth and will remain focused on providing economic opportunity for every Kentuckian."

The new business park is located along the Wendell H. Ford Western Kentucky Parkway and US 62 near the community of Graham in Muhlenburg County. A new interchange from the Wendell H. Ford Parkway was included in the Transportation Cabinet's Six-Year Highway Plan for design and construction with the specific purpose of serving this business park. This interchange is now complete.

The Department for Regional Development, within the Cabinet for Economic Development, administers the Multi-County portion of the Local Government Economic Development Program, which was created in 1992 to provide grants to help make communities more attractive to new manufacturing and services industries, as well as help eligible existing businesses expand. By investing funds into such communities, the Department for Regional Development is concentrating on keeping local economies progressing.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2003 totaled more than $1.56 billion with the creation of just over 13,800 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at http://www.thinkkentucky.com/.