Bowling Green, KY., August 31, 2020 – Bowling Green and Warren County are investing in infrastructure and economic growth through the construction of Prosperity Lane in the Kentucky Transpark. The new Prosperity Lane will be an extension of the existing Prosperity Drive, which was completed earlier in 2020. This project is necessary for the continued growth of the Kentucky Transpark, as it will support Crown Cork & Seal’s new facility as well as an additional 296 acres in the second phase of the Transpark.
“We are proud to continue to invest in our infrastructure to fulfill our commitment to Crown Cork & Seal in addition to paving the way into newly acquired industrial property,” said Bowling Green Area Chamber of Commerce President and CEO Ron Bunch.
The project is 2,100 feet of road and $500K will be reimbursed from the Kentucky Transportation Cabinet in support for the project. “The economic growth in South Central Kentucky has been exceptional, and we are proud to both support Crown Cork & Seal and the future growth of the Kentucky Transpark,” said Governor Andy Beshear.
“We are thankful that Kentucky is committed to investing in our infrastructure as a strategy to grow economic development success which drives return on investment. The Crown Cork & Seal project alone is bringing $147 million to our economy through the creation of 126 jobs. It’s wonderful that they’re building a 327,000-square-foot facility in the Transpark.” said Mayor Bruce Wilkerson.
Connecting the Kentucky Transpark to an additional 296 acres is a key component of the community’s growth strategy. “The Inter-Modal Transportation Authority’s property sits on a CSX rail main line and is ready for industrial development. Bowling Green and Warren County are ideally positioned for the transportation of materials and products throughout the United States. Developing this property will position us to continue to attract manufacturing and distribution companies that can benefit from our location,” said Warren County Judge-Executive Mike Buchanon.
The construction of Prosperity Lane has immediate economic benefits as well. For every $1 spent on road construction, another 39 cents are generated elsewhere in the economy. As a result, the project is expected to support additional spending of $817,141. This includes $65,000 on rent, $48,000 on internet/phone/television, $42,000 buying fabricated metal from local manufacturers, $34,000 purchasing crushed rock, $32,000 on lodging and dining, $30,000 on medical services, $13,000 at local banks, $10,000 in local law firms, $6,500 at local colleges, $5,600 at local grocery stores, $4,800 at department stores and $4,300 on engineering services. The total economic impact of the project will be $2,917,141 million and the creation of 14 jobs. Over the last 9 years, there has been more than 1,500 new jobs announced in the Transpark thanks to companies investing $838.6 million into their facilities.
Announcement link: https://www.southcentralky.com/announcement
Year to date, the Bowling Green Area Chamber of Commerce has closed three economic development projects totaling $176.3 million in capital investment and generating 206 new jobs for 2020. Bowling Green was recently recognized by Site Selection magazine as a top tier-2 metropolitan area in the United States and was ranked among the top 20 for 2018’s “Best Small Cities to Start a Business” by Wallethub.com.
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. As the fourth largest chamber in Kentucky, the Chamber serves as the driving force for South Central Kentucky’s Business Community providing valuable services to over 1,300 partners, advocating a positive business environment and stimulating economic development for the area. 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.