Today, officials from the Bowling Green Area Economic Development Authority, the City of Bowling Green and Warren County, along with members of the Bowling Green Area Chamber of Commerce and the Inter-modal Transportation Authority, celebrated the completion of Speculative Building VI at the Kentucky Transpark with a ribbon cutting.
Speculative Building VI is the latest speculative building to be completed at the Kentucky Transpark. The building is an important milestone in the park's development strategy that outlines a continuum of graded sites, build-ready sites and speculative buildings - which enable companies to quickly locate or expand in South Central Kentucky.
"The Kentucky Transpark is vital to our region's economic development success," said Tommy Adams, Bowling Green Area Economic Development Authority chairman. "We appreciate the support our partnership with the ITA provides as we work together to develop the park."
The BGAEDA broke ground on the first speculative building at the Kentucky Transpark in 2007. American Howa Kentucky purchased the building before completion. Most recently, TMS Automotive purchased Speculative Building V bringing $5 million in capital investment and 38 new, full-time jobs to the region.
"This building is an invaluable asset for the Kentucky Transpark," said Gary Dillard, Inter-modal Transportation Authority chairman. "We have experienced great success with similar projects in the past and look forward to filling the space quickly."
Speculative Building VI is a pre-engineered streel structure situated on 17.6 acres with pre-approved expansion potential up to 216,000 square feet. The property can support up to 432,000 square feet under roof with additional approval. The Kentucky Transpark offers rail service, access to major highways and is in close proximity to I-65, International Airports, and the Owensboro Riverport. Direct access to I-65 via a connector road will open next summer.
"The Kentucky Transpark is a state-of-the-art business park, and we're fortunate to have such a valuable tool in our backyard," said Bowling Green Mayor Bruce Wilkerson. "The Transpark has had such a positive impact on our community in a number of ways since Bowling Green Metalforming broke ground in 2004. The future of South Central Kentucky is bright as we look forward to the park's continued development."
Over the next 10 years, the Kentucky Transpark will have a $5 billion economic impact on the region. As of April 2016, the Transpark employed over 2,000 people and reported $108 million in wages for 2016.
"The significant impact we will experience over the next decade because of the Kentucky Transpark is incredible," said Judge-Executive Mike Buchanon. "The forward thinking and proactive leadership throughout our community has had great influence on how the Transpark has been shaped into what it is today. We are very excited to see who this project will bring to South Central Kentucky."
"Speculative Building VI perpetuates the Transpark's overall development plan and continues the economic development momentum South Central Kentucky continues to gain," said Ron Bunch, president and CEO of the Bowling Green Area Chamber of Commerce. "It is because of the partnership that exists among the EDA, ITA, Chamber of Commerce, the City of Bowling Green and Warren County that this project was possible, and we thank those organizations today for their cooperation and continued support."
In 2016, the Bowling Green Area Chamber of Commerce has announced $359.5 million in capital investment and 440 new jobs in South Central Kentucky.
For more information on the Kentucky Transpark and Speculative Building VI, contact Bowling Green Area Chamber of Commerce President and CEO, Ron Bunch, CEcD at email@example.com
or (270) 781-3200.
About the Bowling Green Area Chamber of Commerce:
Incorporated in 1935, the Bowling Green Area Chamber of Commerce is a 5-Star Accredited Chamber by the U.S. Chamber of Commerce and was named the 2009 Chamber of the Year by the American Chamber of Commerce Executives. As the fourth largest chamber in Kentucky, the Chamber serves as a premier business advocate for its more than 1,200 partners and is the driving force for economic development in South Central Kentucky. Its primary goals are to promote growth and success in the business community, reaching its small business partners and those in large industries alike. With leadership programs, governmental relations projects, educational initiatives and involvement opportunities, the Chamber aims to support the community and its neighbors in order to enhance the business climate and continue to grow the region. Learn more about South Central Kentucky’s advantages at www.southcentralky.com.